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Nila Infrastructures Ltd announces Q1 FY20 results

Posted On: 2019-08-13 11:13:30

The Board of Directors of Nila Infrastructures Ltd (BSE: 530377/NILA; NSE: NILAINFRA) at its meeting held at Ahmedabad on August 12, 2019, approved the Unaudited Financial Results for the quarter ended June 30, 2019.

Standalone Financial highlights for quarter ended June 30, 2019:

- Standalone Revenue of the Company increased by 3.98% to Rs. 549.4 million from Rs. 528.3 million as compared to the corresponding quarter of the previous year. On the profitability front, the EBIDTA for Q1-FY2020 has witnessed an increment 11.61% i.e. from Rs. 71.9 million to Rs. 80.2 million with an EBITDA margin of 15.23% in Q1-FY2020. The Profit after Tax is Rs. 40.2 million i.e. 7.32%.

- At June 30, 2019, the Standalone Networth of the Company is Rs. 1,297.2 million and Standalone Gross Debt is Rs. 1,466.2 million, while the Cash and Bank Balances on the standalone basis is Rs. 62.2 million. The Net debt to Net worth computes 1.08x.

At June 30, 2019 the Company has confirmed unexecuted order-book of Rs. 6,722.6 million.

Commenting at this juncture Mr. Deep Vadodaria, Chief Operating Officer said: "We are confident to catch-up with the continual growth momentum by timely execution of Projects, inspite of the modest growth registered in Q1-FY2020. The restricted availability of labour during Q1-FY2020 on account of the general elections that succeeded the vacation of Holi restricted the execution despite having a robust order-book. Meanwhile, the labour-force is since fully deployed and with clear possession of most of the project-sites, we are certain about the growth during FY2020. While, the profitability shall buoy at acceptable levels for the FY - especially with the higher contribution from the PPP projects, that tend to provide multifold benefits to the Company."

Operating review for Q1-FY2020 (Standalone):

- The profitability at EBIDTA level has improved by 93 bps mainly due change in revenue-mix as Q1-FY2020 has got certain contribution from higher margin PPP projects.

- While, the project/operations cost is almost in-line with the movement in the TOI, the employee cost has reduced as during Q1-FY2019 it contained the salary and related entitlements of certain employees, which were later-on transferred to the Demerged Company viz. Nila Spaces Limited. Other expenses have also reduced by 7.43% as during Q1-FY2019 it contained certain payment towards various professional fees for demerger (KPMG, Singhi & Co) and related advertisement expense.

- The reduction at PBT level has further aggravated to reduction at PAT level by 16.55% mainly due to balance of Deferred Tax credit.

- The depreciation has increased on back of fresh regular capex, while the finance cost has increased due to higher utilization of credit facilities.

- The networth of the Company has increased to Rs. 1,297.2 million due to plough-back of profit.

- The total debt of the Company has increased to Rs. 1,466.2 million. The Company has honoured all its financial commitments and the account is "Standard" with all the lenders. None of the Bank Guarantees submitted by the Company has ever been invoked by any Principal/Client.

Shares of NILA INFRASTRUCTURES LTD. was last trading in BSE at Rs.4.88 as compared to the previous close of Rs. 4.92. The total number of shares traded during the day was 12745 in over 18 trades.

The stock hit an intraday high of Rs. 5.05 and intraday low of 4.88. The net turnover during the day was Rs. 63448.

Source: Equity Bulls

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