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Sadbhav Engineering Q1 Review - Execution Disappoints: Prabhudas Lilladher

Sadbhav Engineering Q1 Review - Execution Disappoint: Prabhudas Lilladher

A laborer is silhouetted as he works at a construction site on the outskirts of Mumbai, India (Photographer Dhiraj Singh/Bloomberg)
A laborer is silhouetted as he works at a construction site on the outskirts of Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

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.

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.

Click on the attachment to read the full report:

Prabhudas Lilladher Sadbhav Engineering Q1FY22 Result Update.pdf

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