HG Infra Q3 Review - Execution Momentum To Pick Up: Dolat Capital
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Dolat Capital Report
HG Infra Engineering Ltd. reported results above estimates on all fronts.
The company reported 28.2%/ 34.0%/ 57.9% YoY growth in revenue/ Ebitda/profit after tax to Rs 7.3 billion/ Rs 1.2 billion/ Rs 655 million in Q3 FY21.
We broadly maintain revenue and Ebitda margin and marginally increase adjusted profit after tax estimates for FY21E factoring nine-month FY21E results and we broadly maintain our estimates for FY22E/ FY23E.
The company has received appointed date for all its projects and entire execution benefit will be realized in FY22E.
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