Dilip Buildcon Q4 Results Review - Good Year: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Dilip Buildcon Ltd.'s Q4 FY24 (standalone) profit after tax came in-line with our and consensus estimate. FY24 revenue growth was +4% YoY but importantly there was stability in Ebitda margin at 12%. Due to election and pick up in ordering from H2 FY25, Dilip Buildcon could witness flattish revenue growth in FY25E from its current order book.

Order book of Rs 175 billion, equals to 1.75 times trailing twelve months revenue. Debt has been reducing, which is positive and it stood at Rs 15 billion as on FY24 versus Rs 24 billion as on FY23.

Dilip Buildcon aims to be net debt free by FY26 and this will be led by internal accruals, divestment proceeds and working capital days reduction.

PE Alpha Alternative deal is on track to get investment of Rs 5 billion in FY25E and balance warrant amount of Rs 4 billion to be received in FY26E. On unchanged target price of Rs 492 we revised rating to Hold as stock is trading closer to our target price.

Click on the attachment to read the full report:

IBDI Capital Dilip Buildcon Q4FY24 Results Review.pdf

Read Document

Also Read: JSW Infra Q4 Results Review - Robust Quarter Led By Higher Third-Party Volumes; Outlook Bright: Motilal Oswal

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.