Ahluwalia Contracts Logs Weak Q3; Margin Recovery To Lift Earnings: Centrum Broking 

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Centrum Broking Report

Ahluwalia Contracts India Ltd.’s Q3 FY21 result was below estimates led by muted margins.

Profit after tax declined 30.3% YoY to Rs 147 million (estimate: Rs 221 million). Revenue grew 7.7% YoY to Rs 5.4 billion (estimate: Rs 5 billion).

However, Ebitda declined sharply by 27.3% YoY to Rs 317 million (estimate: Rs 450 million) due to higher raw material and employee costs and ~Rs 85 million expected credit loss provisions.

Ebitda margins declined 280 basis points YoY to 5.9% (estimate: 9%).

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