Rail Vikas Nigam Q4 Review - Negligible Order Inflow Is Concerning: IDBI Capital
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IDBI Capital Report
Rail Vikas Nigam Ltd. Q4 FY21 Ebitda was better than our estimate.
For FY21 execution (revenue) increased by up 6% YoY and Ebitda margin increased by 30 basis points YoY to 5.7%.
The company has reported loss from its associate company at Rs 4 million and losses has reduced from Rs 166 million YoY.
Profit after tax increased by up 22% YoY and was driven by higher other income.
FY21 orderbook at Rs 750 billion provides revenue visibility for the next four years but company has received negligible orders in FY21.
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