Infra Sector Earnings Preview - Broad Based Recovery In Q4: Prabhudas Lilladher
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Prabhudas Lilladher Report
We expect strong execution in Q4 FY21 for our infra coverage universe with expected revenue growth of 22.2% YoY (average) versus 6.1% in Q3 FY21.
Operating leverage will enable stable Ebitda margins despite inflationary environment.
Adjusted profit after tax is expected to increase by 87.5% YoY led by lower base, better operational efficiencies and lower interest rates.
We continue to prefer companies with strong balance sheet, controlled debt levels, good corporate governance, sustained working capital cycle and high book to bill ratio, as they will gain from ongoing awarding momentum.
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