Maintain BUY on HG Infra - Beat on all fronts - HDFC Securities
Maintain BUY on HG Infra - Beat on all fronts - HDFC Securities Posted On: Mr. Parikshit D Kandpal, Institutional Research, HDFC Securities HG Infra reported revenue of Rs 7.3bn, 10.5% beat to our estimate and 28% YoY growth. The company also surprised positively on margins (16.1% vs 15% estimated), leading to 39% beat on APAT. While HG did not secure any orders during 9MFY21, it aims to win Rs 30-40bn during FY21. Order backlog is robust at Rs 59.7bn (~3x FY20 Rev). Standalone net debt reduced to Rs 1.1bn from Rs 1.7bn in Dec-20. We increase our FY21 estimates to factor in robust quarter and...
Source: equitybulls.com