Ahluwalia Contracts Q1 Review – Robust Order Inflow Leads To Higher Growth In FY24E: Dolat Capital

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Ahluwalia Contracts India Ltd. reported revenue and Ebitda below estimates, however Ebitda margin and adjusted profit after tax in line.

The company posted +5.0%/ +0.3% YoY growth in revenue/ Ebitda to Rs 6.1 billion/ Rs 606 million in Q1 FY23. Ebitda margin down 47 basis points YoY to 9.9% due to higher raw material cost and construction expenses which was partially offset by lower sub-contracting cost, employee cost and other expenses.

Adjusted profit after tax grew 8.6% YoY to Rs 378 million.

Ahluwalia Contracts received fresh orders worth Rs 12.7 billion/ Rs 36.5 billion (including level one in two projects worth – 1. Rs 7.2 billion Tata memorial cancer hospital in Mumbai 2. Rs 700 million Mandale Depo) during FY22/ year-to-date-FY23.

It has strong bid pipeline of Rs 50 billion (30% private and 70% is split between 70-80%/ 20-30% in Central Government/ State Government).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime 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 BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.