Edelweiss’ research report on Ahluwalia Contracts
Ahluwalia Contracts (ACIL) continued its strong performance with Q4FY18 PAT jumping 54% YoY to INR310mn. Revenue fell 5% YoY (up 24% sequentially) to INR4.5bn, the YoY dip was primarily on account of GST impact. The company ended FY18 with order book of ~INR30.7bn; in Q1FY19, it has this far bagged projects worth ~INR16.2bn, increasing the order backlog to a robust ~INR47bn (book-to-bill of ~2.9x).
Management continues to maintain a conservative bidding strategy, targeting large-size public sector projects and commercial/institutioncal orders in the private sector. Maintain ‘BUY’ with a target price of INR505.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jun 12, 2018 02:44 pm