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Wednesday, September 28, 2022

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Robust Order Book, Superior Execution To Drive Growth: Axis Securities

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.

RITES Ltd. ensured robust execution in FY22 as the business environment improved post removal of Covid restrictions and vaccination drive. Moreover, several improvements in its overseas business environment resulted in higher export sales during the year.

RITES achieved the highest-ever revenue in exports and foreign consultancy while achieving higher overall profits owing to superior execution and stringent resource management.

With excellent order book position, the company’s efficient execution prowess, better traction in major business verticals, and a clean balance sheet, we expect RITES revenues/Ebitda/adjusted profit after tax to grow at 7%/4%/9% compound annual growth rate respectively over FY22-24E.

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