Sadbhav Engineering Ltd's Q2FY19 standalone net profit rises 14.3% yoy to Rs38.29cr : In-line with Estimates

The company’s standalone revenue stood at Rs690.59cr, down 0.36% yoy.

Nov 16, 2018 04:11 IST India Infoline Research Team

Sadbhav Engineering Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 690.59 [0.4]
EBITDA 83.32 5.8
EBITDA Margin (%) 12.1 71
Net Profit  38.29 14.3
***EBITDA margin change is bps

Sadbhav Engineering Ltd posted Q2FY19 results almost in-line with the estimates on PAT front. Revenue declined by 0.4% yoy to Rs690.6cr against Rs693.08cr in Q2FY18. EBITDA for the quarter grew by 5.8% yoy to Rs83.32cr against Rs78.76cr. EBITDA margin grew by 71bps yoy to 12.1%. Net profit for the quarter grew by 14.3% yoy to Rs38.29cr against Rs33.49cr in corresponding quarter last year, almost in-line with the estimate of Rs41cr.

• Received new order of Rs1,620cr in Q2FY19 towards construction of access controlled Nagpur Mumbai super communication expressway Maharashtra Samruddhi Mahamarg on EPC Mode.
• Transport sector order book stood at 80.94% of total order book.
• Cumulatively, the company has won new orders worth ~Rs3,100cr YTD FY19 and management expects further winning ~Rs4,000cr worth of orders in FY19.
• Current order book stands at Rs13,743cr.
• Management guided that five projects worth ~Rs4,600cr would receive appointed date during Q3FY19, while another four projects worth ~Rs3,300cr would commence post Q3FY19.

Technical View:

Sadbhav Engineering Ltd is currently trading at Rs. 224.15, up by 8.2 points or 3.8% from its previous closing of Rs. 215.95 on the BSE.
The scrip opened at Rs. 223 and has touched a high and low of Rs. 227.80 and Rs. 209.65 respectively. So far 13,89,232 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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