Ircon International Q1 Results Review - To Watch For Order Inflow: 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.Ircon International Ltd. Q1 FY25 profit after tax came in-line with our estimate. Operating performance was weak as Q1 FY24 Revenue declined by 17% and and adjusted Ebitda margin at 6.8% was flat QoQ. Ircon guides revenue growth to be flat on YoY basis in FY25 and Ebitda margin to be maintained at the same level. Its order win has been lukewarm and order book has seen weakness at Rs 260 billion in Q1 FY25 versus Rs 325bn YoY. This we understand could impact revenue of FY25E/26E, partially could be seen in H2 FY25. Opportunity remains huge for Ircon and thus awaits order win. We value the company on SOTP with target price of Rs 272. Target price implies valuation of ~30 times FY26E earnings per share. Retain Hold rating on the company, stock catalyst are execution uptick and order win..Click on the attachment to read the full report:.NMDC, Hindustan Zinc, Other Mining Stocks Hit After Supreme Court's Retrospective Royalty Verdict.DISCLAIMERThis 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.

Ircon International Q1 Results Review - To Watch For Order Inflow: IDBI Capital

Opportunity remains huge for Ircon and thus awaits order win.

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Ircon International Q1 Results Review - To Watch For Order Inflow: IDBI Capital

Opportunity remains huge for Ircon and thus awaits order win.

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