J Kumar Infra Q4 Review - Strong Execution To Continue: Dolat Capital
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Dolat Capital Report
J Kumar Infraproject Ltd. reported revenue above estimates however, Ebitda margin and profit after tax came in below estimates.
The company posted 13.0%/13.6%/5.3% YoY growth in revenue/Ebitda/adjusted profit after tax to Rs 9.9 billion/Rs 1.04 billion/Rs 327 million in Q4 FY21.
We maintain our revenue estimates for FY22E/FY23E however, we reduce Ebitda margin estimates by 98/51 basis points for FY22E/FY23E factoring higher input cost.
Accordingly, we reduce our adjusted profit after tax estimates by 13.4%/7.7% for FY22E/FY23E.
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