IDBI Capital: Ircon International's Q2 Execution Run-Rate Matches Pre-Covid Level 
Trains sit at Lokmanya Tilak Terminus (LTT) in the Kurla suburb of Mumbai, India, (Photographer: Dhiraj Singh/Bloomberg)

IDBI Capital: Ircon International's Q2 Execution Run-Rate Matches Pre-Covid Level 

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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.

IDBI Capital Report

Ircon International Ltd.’s Q2 FY21 profit after tax came 18% higher than our estimate and it stood at Rs 0.8 billion.

Execution has seen an improvement on QoQ basis and company highlighted in October 2020, its execution run rate is matching pre-Covid-19 levels.

For FY21E, the company guides for revenue of Rs 49-52 billion. Order book as on Q2 FY21 equals to 7 times trailing twelve months revenue and this include Rs 23 billion orders won in Q2 FY21.

Click on the attachment to read the full report:

IDBI Capital IRCON Q2FY21 Result Update.pdf

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