Nila Infrastructures Q4 profit at Rs4.34cr; stock ends 10% higher

As on March 31, 2021, the Standalone Networth of the Company was Rs143.91cr and Standalone Gross Debt was Rs145.45cr, while the Cash and Bank Balances on the standalone basis was Rs18.94cr. The Net debt to Networth computes to 0.88x.

Jun 22, 2021 04:06 IST India Infoline News Service

The Board of Directors of Nila Infrastructures Ltd at its meeting held at Ahmedabad on June 19, 2021, approved the Audited Financial Results for the quarter and year ended on March 31, 2021.

During Q4-FY2021, the total revenue of the Company was Rs38.42cr i.e. higher by Rs6.4cr to Q3-FY2021’s revenue of Rs37.77cr. Profitability at the EBIDTA level has also improved to a large extent to ` 8.92cr i.e. higher by Rs4.99cr compared to Q3-FY2021’s EBITDA of Rs3.93cr. The Company reported a profit of Rs4.34cr i.e. higher by Rs2.41cr compared to Q3-FY2021’s profit of Rs1.93cr.

As of March 31, 2021, the Standalone Networth of the Company was Rs143.91cr and Standalone Gross Debt was Rs145.45cr, while the Cash and Bank Balances on the standalone basis was Rs18.94cr. The Net debt to Networth computes to 0.88x.

Commenting at this juncture Mr. Deep Vadodaria, Chief Operating Officer said: “We are glad to demonstrate resilience to counter the impact of the COVID-19 induced disorder, which constrained our financials during H1-FY2021. The Company could generate limited revenues during FY2021 mainly as H1-FY2021 was lackluster while the Second-wave broke in Q4-FY2021. Meanwhile, certain running projects had attained completion-stage, while the fresh orders were in planning phase and hence, could not contribute much to the revenue.

Looking ahead, the Social Housing segment is set to chart a new chapter of growth, fueled by affordability, reinforced desire to own a house and renewed interest from all stakeholders. During Q4- FY2021, we have added four (4) meaningful and strategic orders aggregating Rs58.77cr to construct EWS flats at Jaipur for Jaipur Development Authority (JDA). These would provide for 1,192 flats in approx. 30 months. We believe our satisfactory engagement in Civic Urban Infrastructure segments, adherence to stipulated cost, quality and timeline put us in a good position to capture plentiful growth opportunities.

With the nationwide vaccinations drive gaining momentum, we believe this would ensure sufficient and constant availability of healthy manpower. The improving sentiment with the reopening of the economy, especially in Gujarat, is providing requisite impetus to further the economic growth. A series of stimulus packages by the government is also catalyzing the economic activities. These trends shall also reflect in our business and results. We now look forward to a resilient FY2022.”

At March 31, 2021 the Company has confirmed and practically executable order-book of Rs555.84cr.

The stock ended at Rs7.19 up by Rs0.63 or 9.6% from its previous closing of Rs6.56 on the BSE.

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