Sadbhav Engineering Q1 Review - Execution Disappoints: Prabhudas Lilladher
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Prabhudas Lilladher Report
Sadbhav Engineering Ltd. reported disappointing numbers, led by dismal execution performance which came significantly below estimates.
Execution is expected to garner pace Q3 onwards, as full labour force expected to be back post monsoon and ramp up in execution of large ticket size projects; Sadbhav Engineering targets construction run-rate of Rs 70-80 million/day.
It has completed sale of Maharashtra Border Check Post project and expects an infusion of Rs 5.5 billion.
With stake sale and various arbitration award, management expects liquidity position to improve significantly going ahead.
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