PSP Projects Q1 Review - Pick Up In Execution In FY22E: Dolat Capital
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.
Dolat Capital Report
PSP Projects Ltd.’s revenue and profit after tax came much below estimates but Ebitda margin in line.
The company posted three times/ 30.3 times YoY growth in revenue/ Ebitda to Rs 3.2 billion/ Rs 394 million in Q1 FY22.
PSP Projects reported profit after tax of Rs 251 million versus loss of Rs 22 million in Q1 FY21.
SBD revenue - Rs 924 million versus Rs 456 million (Q1 FY21).
We broadly maintain our estimates for FY22E/ FY23E factoring Q1 FY22 results.
We expect a 22.5%/ 32.2% revenue/ adjusted profit after tax compound annual growth rate over FY21- 23E, with Ebitda margins of 12.1%/ 12.1% for FY22E/ FY23E.
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.