Welspun Enterprises Ltd., a diversified infra player with a presence in Road and Water, on Wednesday, announced its results for the quarter ended December 31, 2021.
The company’s Profit After Tax (PAT) declined 79% yoy to Rs6.3cr in Q3FY22 from Rs30cr in Q3FY21. Revenue from Operations also saw a 47.1% yoy fall to Rs215.5cr in Q3FY22 from Rs407.3cr in Q3FY21. EBITDA was 58.1% yoy lower at rs22.3cr from Rs53.2cr. EBITDA margin at 9.9% down 290bps from 12.8% yoy.
The company said in a filing that it has an unexecuted EPC Order Book as on December 31, 2021, ~Rs7,680cr (~Rs5,162cr in Road and ~Rs2,525cr in Water segment).
The company stock was under selling pressure on Thursday and at around 10.20 AM, Welspun Enterprises Ltd was trading at Rs94.80 per share down by Rs6.2 or 6.14% from its previous closing of Rs101 per share on the BSE.
Key Business updates
Ajay Hans, CEO, Welspun Enterprises Ltd, said, “We have reported an operating performance that is characterized by a strong order book, with a majority of the unexecuted EPC order book coming from external client engagements, and also reflects our selective approach to evaluating and pursuing project opportunities. While project implementation and progress during the period under review has been affected by exogenous factors such as the farmers’ agitation and NGT intervention in a large BOT project, we expect the ongoing execution of our robust order book to generate incremental revenue and drive growth from next quarter onwards.”
He added on Wednesday, “we are encouraged by the continued thrust on infrastructure, as seen in the Union Budget presented yesterday. Among the measures announced was the expansion of the national highway network by 25,000 kilometers in FY2022-23. We are making consistent efforts in expanding our footprints into the Water segment where we see significant opportunities over the next few years.”
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