ADVERTISEMENT

HDFC Securities: IRB Infra Posts In-Line Q1 Performance; Liquidity Position Comfortable

HDFC Securities: IRB Infra Posts In-Line Q1 Performance; Liquidity Position Comfortable



Traffic moves along National Highway 7 as road construction takes place in Bangalore, India, (Photographer: Namas Bhojani/Bloomberg)
Traffic moves along National Highway 7 as road construction takes place in Bangalore, India, (Photographer: Namas Bhojani/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Report

IRB Infrastructure Developers Ltd. reported revenue at Rs 10.2 billion, 15% ahead of our estimate.

However, the company registered loss of Rs 301 million, marginally behind our estimated loss of Rs 276 million, on account of higher finance cost, taxes, and losses from the joint ventures/associates.

Toll collection in June reached to 80% of June 2019 level.Consolidated net debt stood at Rs 119 billion, with net debt to equity at 1.75 times.

Including the order of Rs 17 billion won in August 2020, orderbook now stands at Rs 129 billion.

Click on the attachment to read the full report:

HDFC Securities IRB Infra Q1FY21 Results Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.