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ICICI Direct: Sadbhav Engineering Company Update

Sadbhav Engineering’s revenue fell by more than half and ebitda margin shrank 162 basis points yoy in the first half of 2020-21.

A laborer is silhouetted as he works at a construction site on the outskirts of Mumbai, India (Photographer Dhiraj Singh/Bloomberg)
A laborer is silhouetted as he works at a construction site on the outskirts of Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

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ICICI Direct Report

Sadbhav Engineering Ltd. continued to report disappointing numbers in H1 FY21 with revenue falling 54.2% YoY to Rs 641.9 crore, largely marred by disruptions caused by Covid-19 pandemic.

Operating margin fell 162 basis points YoY to 10.8% for H1. At net level, the company reported loss of Rs 21.3 crore during H1 FY21 on account of lower operational revenue and higher costs.

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ICICI Direct Sadbhav Company Update.pdf

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