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The company reported a 29% rise in consolidated net sales to Rs 461.93 crore in June 18 quarter. Domestic revenue during the quarter stood at Rs 340 crore up by 14% YoY while exports grew by 97% to Rs 121 crore. In June 18 quarter, Civil segment reported net sales of Rs 141 crore up by 60% due to higher construction work for Vishakhapatnam project which is a Rs 360 crore project., Erection segment reported net sales growth of 26% to Rs 181 crore largely due to strong international erection work, O&M saw a growth of 6% to Rs 133 crore.
OPM was higher by 40 bps to 13.2% and thus resulting in OP growth of 32% to Rs 60.75 crore. Higher exports and better execution lead to higher margins.
Other income was higher by 1% to Rs 2.82 crore and interest costs was higher by 52% at Rs 11.57 crore. Depreciation was higher by 3% to Rs 10.53 crore which resulted in a 34% increase in PBT to Rs 41.47 crore. After providing total tax of Rs 10.90 crore, up by 15% on YoY, PAT stood at Rs 30.57 crore up by 43% YoY. After providing MI of Rs 6.12 crore up by 89% YoY, consolidated PAT for June 18 quarter stood at Rs 24.51 crore up by 35% YoY.
Consolidated performance for 12 months ended Mar 18
For 12 months ended Mar 18, consolidated net sales were up by 16% to Rs 1547.83 crore. OPM was up by 70bps and stood at 13.1% resulting in a 22% increase in OP to Rs 202.28 crore. Other income was down by 13% to Rs 6.72 crore. Interest cost was up by 9% at Rs 35.88 crore and depreciation was up by 5% to Rs 42.84 crore. Thus, PBT was up by 31% to Rs 130.28 crore. After providing total tax of Rs 39.23 crore, PAT for 12 months ended Mar 18 stood at Rs 91.05 crore. After providing share of loss from JV of Rs 23 lakh and MI of Rs 11.37 crore, consolidated PAT for 12 months ended Mar 18 stood at Rs 79.45 crore, up by 23% YoY.
Power accounted for around 70% of revenue and remaining was from non power segment.
As on Aug 18, the company has an order book of Rs 6400 crore.
Order inflow in FY 19 uptil Aug 19 so far stood at around Rs 3600 crore
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