HG Infra Q1 Review - Execution Momentum To Continue: Dolat Capital
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
HG Infra Engineering Ltd. reported results above estimates on all fronts.
The company reported 206.0%/ 202.3%/ 489.3% YoY growth in revenue/ Ebitda/ profit after tax to Rs 9.1 billion/ Rs 1.5 billion/ Rs 889 million in Q1 FY22.
We increase our revenue estimates by 4.0%/ 6.7% and broadly maintain Ebitda margin estimates for FY22E/ FY23E factoring Q1 FY22 results.
Accordingly, we increase our profit after tax estimated by 8.0%/ 10.9% for FY22E/ FY23E.
HG Infra has received appointed date for all its projects (except Rs 18.4 billion three hybrid annuity model projects and one engineering, procurement and construction project of Rs 12.4 billion) and entire execution benefit will be realised in FY22E.
Click on the attachment to read the full report:
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 author entity 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.