RITES Q4 Review - Near Term Covid-19 Disruption But Future Bright: IDBI Capital
A worker installs grab handles inside a passenger car in Andhra Pradesh. (Photographer: Udit Kulshrestha/Bloomberg)

RITES Q4 Review - Near Term Covid-19 Disruption But Future Bright: IDBI 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.

IDBI Capital Report

RITES Ltd.'s Q4 FY21 profit after tax at Rs 1.4 billion is 14% lower than our and consensus estimate, as revenue was impacted from Covid-19 disruption (supply chain issue).

Consolidated Ebitda margin remained healthy at 29% (up 50 basis points YoY) and was driven by export orders and cost management (employee strength reduced by 9% YoY).

In FY21, the company received orders of Rs 21 billion and order inflow could be strongly higher in FY22 as company is already level-one in order of Rs 14 billion.

Balance sheet continues to remain lean, cash flow was strong with operating cash flow at Rs 5 billion versus Rs 3 billion in FY20.

Click on the attachment to read the full report:

IDBI Capital RITES Q4FY21 Result Update.pdf


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