JMC Projects - Execution Recovered, BOT-Toll Restructuring Nearing Closure: Anand Rathi
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Anand Rathi Report
With execution efficiency returned, JMC Projects India Ltd.’s revenues scaled a new quarterly high in Q3.
Covid-19 costs continue to weigh on margins, but management is confident of returning to its secular range sooner than later.
The balance sheet is in shape, and the order book construct, too, is comforting (with the gradually rising exposure to infrastructure orders, especially water).
In BOT-toll, restructuring efforts are nearing closure. Any success would support consolidated financials, and hold good for monetisation efforts to gather pace.
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