Nirlon - Phase V Revenues Likely By FY22 End: ICICI Direct
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ICICI Direct Report
Nirlon Ltd.’s FY21 performance was muted. Revenues in FY21 grew 2.2% YoY to Rs 316.9 crore. For Q4 FY21, it was Rs 77.1 crore, down 6% YoY.
Occupancy, which was at 95.2%, was lower QoQ versus 97.5% in Q3, as one large licensee moved out post expiry of their license.
Ebitda for FY21 at Rs 237.2 crore was up 2.7% YoY.
Profit after tax at Rs 127.4 crore for FY21 was up 16.4% YoY, also aided by lower interest, due to capitalisation.
The company has an operational licensable area of ~1.9 million square feet across Phase I-IV at Nirlon Knowledge Park, of which, ~95.2% area has been licensed out.
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