Ircon International Q3 Review - Guidance Of Strong Growth In FY22: IDBI Capital
A Shalimar Express train sits idle at a platform inside the Delhi Junction railway station. (Photographer: T. Narayan/Bloomberg)

Ircon International Q3 Review - Guidance Of Strong Growth In FY22: IDBI Capital

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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 Q3 FY21 profit after tax was 12% lower than our estimate. This is led by lower execution and Ebitda margin. Revenue increased by 10% YoY versus our estimate of 15%.

However, with Covid-19 pandemic stabilising, execution of projects has started to pick up.

For FY22E, the company guides for revenue of Rs 70 billion and Rs 100 billion for FY23E.

Q3 FY21 order book at Rs 328 billion equals to seven times trailing twelve months revenue and year-to-date FY21 it has received order inflow of Rs 40 billion.

The company has announced interim dividend of Rs 1.3/share and bonus issue is deferred pending approval from Ministry of Railway.

Click on the attachment to read the full report:

IDBI Capital IRCON Q3FY21 Result Update.pdf

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