Hindustan Aeronautics Q4 Review - Balance Sheet Pruned; Focus Shifts To Execution: Dolat Capital
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Dolat Capital Report
Hindustan Aeronautics Ltd. reported robust profit after tax growth of 32% YoY led by healthy operational performance and significant reduction in Interest cost.
Ebitda grew by 11% YoY with margin expansion of 137 basis points YoY, while revenue increased by 5% YoY.
The company’s focus on cash flows has helped improve its net working capital intensity to 32% of sales in FY21 (compared to 74% in FY20).
The collections stood healthy at Rs 345 billion. Moreover, the company has become debt-free versus a debt of Rs 58 billion in FY20.
The company’s strong order backlog of Rs 806 billion (3.5 times trailing twelve months sales) provides revenue visibility over the next six to seven years.
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