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Yes Securities has buy call on with a target price of Rs 663. The current market price of Dilip Buildcon Ltd. is Rs 545.1. Time period given by analyst is 1 year when Dilip Buildcon price can reach defined target.
Dilip Buildcon Ltd., incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 7905.84 Crore) operating in Construction sector. Dilip Buildcon Ltd. key Products/Revenue Segments include Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2020.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 3143.48 Crore, up 13.94 % from last quarter Total Income of Rs 2758.93 Crore and up 14.71 % from last year same quarter Total Income of Rs 2740.47 Crore. Company reported net profit after tax of Rs 168.76 Crore in latest quarter.
Investment Rationale
The execution has ramped up well over Q4 with better labor availability and execution in full swing. However, April and May have been impacted due to COVID related restrictions (impacting pace of execution) and the rising input costs. While Order book is extremely robust at 3x FY21 revenues, the growth in execution in FY22 is expected at ~15% with margins coming under bit of pressure. Strong pick up in execution would be expected in FY23 as COVID related challenges subside. The Cube deal payouts that is expected in near term and the QIP funds would help in reducing debt by Rs.5.0 bn in FY22. The brokerage has largely retained its estimates for FY23 and maintains BUY rating on the stock for target price of Rs.663. (on SOTP basis).
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Dilip Buildcon Ltd., incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 7905.84 Crore) operating in Construction sector. Dilip Buildcon Ltd. key Products/Revenue Segments include Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2020.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 3143.48 Crore, up 13.94 % from last quarter Total Income of Rs 2758.93 Crore and up 14.71 % from last year same quarter Total Income of Rs 2740.47 Crore. Company reported net profit after tax of Rs 168.76 Crore in latest quarter.
Investment Rationale
The execution has ramped up well over Q4 with better labor availability and execution in full swing. However, April and May have been impacted due to COVID related restrictions (impacting pace of execution) and the rising input costs. While Order book is extremely robust at 3x FY21 revenues, the growth in execution in FY22 is expected at ~15% with margins coming under bit of pressure. Strong pick up in execution would be expected in FY23 as COVID related challenges subside. The Cube deal payouts that is expected in near term and the QIP funds would help in reducing debt by Rs.5.0 bn in FY22. The brokerage has largely retained its estimates for FY23 and maintains BUY rating on the stock for target price of Rs.663. (on SOTP basis).
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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