ITD Cementation Q4 Review - Healthy Execution With Strong Margins: Prabhudas Lilladher
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.
Prabhudas Lilladher Report
ITD Cementation India Ltd. reported strong set of numbers as revenues (up 33% YoY) marginally missed estimates while margins surprised positively.
However, due to the second wave of Covid-19, execution at project sites have dipped by ~15% in April-May 2021.
The company witnessed improved liquidity position as it reduced gross debt by ~Rs 1.4 billion in Q4 taking net debt-equity to 0.2 times.
With strong order book position, healthy bid pipeline (Rs 880 billion) and improved liquidity position on one hand and headwinds due to second wave of Covid-19 on the other, management guided for conservative 15-20% revenue growth in FY22E.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.