Dilip Buildcon reported a 46.4% yoy growth in standalone revenue during Q1FY19. This was on account of the on-track execution of the large starting order book. The standalone revenue stood at Rs2,436.6cr against the estimate of Rs2,192cr. EBITDA margin stood at 17.8% contracted marginally by 29bps, while EBITDA grew 44.1% yoy to Rs432.6cr, beating the estimate of Rs392cr. PAT grew 107.9% yoy due to tax reversal during the quarter to Rs254.9cr, beating the estimate of Rs168cr.
In Q1FY19, the company's order book increased to ~Rs24,100cr from ~Rs23,890cr in FY18 due to new wins of ~Rs2,700cr during the quarter. With book-to-bill of 2.8x, this provides strong revenue growth visibility for the company. The company has not reported any further progress in terms of transfer of a stake in the 24 road projects to Shrem Group.
Dilip Buildcon Ltd ended at Rs844.15, down 7.55 points, or 0.89% from its previous close of Rs851.70 on the BSE. The scrip opened at Rs852.10 and touched a high and low of Rs864 and Rs840, respectively. A total of 2,10,584 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.
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