J. Kumar Infraprojects Limited reports Q1 FY21 earnings

J. Kumar Infraprojects Limited (JKIL), a pure play EPC company having a niche in construction of Urban Infra Projects including Metros, Flyover, bridges etc. today announced its Unaudited Financial results for the quarter ended June 30, 2020.

Performance highlights for Q1 FY21

Standalone Performance highlights for Q1FY21: Total Income for Q1FY21 is ₹ 2,853 mn with EBITDA of ₹283 mn and Cash PAT of ₹142 mn. We witnessed partial recovery in May and good recovery from June onwards. We have taken stringent cost control measures and are working hard to improve working capital management and profitability going forward. As execution pace improves, Company expects substantial increase in revenue and cash flows.

Our Total Order book as on June 30, 2020 stood at ₹ 1,09,742 mn. The order book inter alia includes Metro projects (elevated and underground) contributing ~ 57%, while Flyover, Bridges & Roads projects contributes ~41%.

On the performance Mr. Kamal Gupta, Managing Director commented, "Q1FY21 has been extremely challenging for the Construction Industry. Industry faced multiple issues in terms of slow pick up in construction activity, large scale labour migration specially from Mumbai & Delhi as well as liquidity challenges.

While JKIL has had its own share of challenges, our strategy of continuous focus on collection and improving working capital utilisation, cost rationalisation measures and maintaining debt levels within the broad parameters has helped us to not only stay afloat but gather momentum and start projects across our orderbook.

Safety and well-being of our workmen and employees are of utmost importance to us. We had implemented heightened safety protocols across our sites, ensured essential supplies and initiated work from home facility for our office staff.

We expect strong impetus from the Government on pushing infrastructure development projects to kick start the economy. With our expertise and track record, we are hopeful of being awarded more such Urban Infra Projects across the country. At JKIL, we are all geared to Capitalise on Opportunity of huge Infrastructure development in Country. We are witnessing increased level of tendering activities, which we expect to further gain pace in Q3 FY21. Our careful project selection criteria, strong bidding and estimation capabilities, efficient project planning and management coupled with asset ownership are key to our success. With the sustained order inflow and our expertise in executing and delivering projects on time we are optimistic that we shall witness a healthy and sustainable growth. The Company has sufficient cash as well as unutilised working capital facilities to undertake large projects and also to ramp up execution of existing projects."

Shares of J.KUMAR INFRAPROJECTS LTD. was last trading in BSE at Rs.112.25 as compared to the previous close of Rs. 110.95. The total number of shares traded during the day was 106624 in over 3012 trades.

The stock hit an intraday high of Rs. 118.55 and intraday low of 108. The net turnover during the day was Rs. 12199285.

Source : Equity Bulls

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