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JMC Projects Q4 Review - All-Round Good Performance: Anand Rathi

JMC Projects Q4 Review - All-Round Good Performance: Anand Rathi

A construction crane is seen between buildings. (Photographer: Keith Bedford/Bloomberg)
A construction crane is seen between buildings. (Photographer: Keith Bedford/Bloomberg)

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Anand Rathi Report

Revenue at a new quarterly high, an all-time-high firm order book and a many year-low leverage are some of the positives that set the stage for JMC Projects India Ltd. to keep on churning out healthy performances.

A swift recovery from the earlier Covid-19 induced disruption implies processes have been put in place, and the company is better prepared to deal with the second wave.

In build-operate-transfer-toll, restructuring and monetisation efforts are underway. Any success would support cash flows.

The swiftly recovered execution pace and a pruned working capital cycle lead us to raise our estimates, and better growth prospects make a case for a higher price-to-earning multiple.

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Anand Rathi JMC Projects Company Update.pdf

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