Infrastructure Sector Review - After Robust Q4, Covid Concerns Return In Q1: Dolat Capital
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Dolat Capital Report
Our infrastructure and construction coverage universe of eight stocks reported revenue of Rs 114.1 billion in Q4 FY21, a growth of 26.4% YoY (up 28.6% QoQ) as execution further picked up pace as Q4 FY21 didn’t witness major hampering due to Covid-19.
Ebitda grew 23.8% YoY (up 22.9% QoQ) to Rs 15.6 billion and Ebitda margin contracted 30 basis points YoY (down 64 basis points QoQ) to 13.7%.
Adjusted profit after tax witnessed growth of 45.1% YoY (up 119.5% QoQ) to Rs 6.8 billion in Q4 FY21.
Tax rate stood at 34.2% versus 27.6% (Q4 FY20).
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