Eldeco Housing and Industries Ltd reports earnings for FY2020

Eldeco Housing and Industries Ltd. (EHIL) (BSE: 523329), a leading Lucknow based real estate player has announced its results for the fourth quarter and financial year ended March 31, 2020.

Consolidated Results - Q4FY20 vs Q4FY19

- Revenue decreased by 37.03% to Rs 35.18 crore.
- EBIDTA decreased by 25.30% to Rs 17.45 crore.
- EBIDTA Margin improved from 41.81% to 49.60%.
- PBT decreased by 27.47% to Rs 16.60 crore while PBT margin improved from 40.95% to 47.17%.
- PAT decreased by 18.14% to Rs 12.18 crore while PAT margin improved from 26.64% to 34.63%.

Consolidated Results - FY20 vs FY19

- Revenue decreased by 23.58% to Rs 128.53 crore.
- EBIDTA decreased by 3.68% to Rs 54.09 crore.
- EBIDTA margin improved from 33.39% to 42.08%.
- PBT decreased by 2.78%to Rs 52.54 crore and PBT margin improved from 32.13% to 40.88%.
- PAT decreased by 6.96% to Rs 39.18 crore and PAT margin improved from 21.78% to 30.48%.

Consolidated Balance Sheet Highlights - FY20 vs FY19

- Net-worth has increased to Rs 210.71 crore in FY20 from Rs 183.73 crore in FY19.

- Remained Zero Long term Debt Company, with cash and cash equivalents of Rs 88.30 crore as on 31st March 2020.

Commenting on the results, Mr. Pankaj Bajaj (Chairman and Managing Director) said "We have continued to focus on deliveries in our existing projects. We at EHIL have strong brand value in Lucknow due to our consistent track record of development and timely completion of projects, ensuring the sale of projects during the construction stage. We are now uniquely positioned to take advantage of forthcoming opportunities in the sector. We have built up our cash reserves and have no outstanding debts to banks.

COVID lockdown has definitely disrupted the market. But we feel that the residential segment will be the first to recover. Another long term trend which is likely to emerge is that tier 2 towns will have a greater share of the real estate market in the country."

Shares of ELDECO HOUSING & INDUSTRIES LTD. was last trading in BSE at Rs.999.9 as compared to the previous close of Rs. 965.05. The total number of shares traded during the day was 497 in over 40 trades.

The stock hit an intraday high of Rs. 1000 and intraday low of 949. The net turnover during the day was Rs. 488998.

Source : Equity Bulls

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