Ircon International Limited announces Q2, H1 FY21 results

Ircon International Limited, a Miniratna (Category-I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company has announced its financial results for the second quarter/half year ended on September 30th, 2020.

Q2FY21 (Standalone)

Revenues from operations for the quarter ended September 30th, 2020 (Q2FY21) stood at Rs. 965.57 crore as compared toRs. 477.35 crore in Q2Y20. Likewise, the Total Income stood at Rs.1015.16 crore in Q2FY21 as against Rs. 513.48 crore in Q2FY20.

The Company's Core Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands at Rs. 66.04 crore in Q2FY21, as against Rs. 33.82 crore in Q2FY20. The Company's EBITDA margin stood at 11.39%.

Profit Before Tax (PBT) stood at Rs. 103.54 crore for Q2FY21 as compared to Rs. 60.13 crore in Q2FY20. The Company's PBT margin stood at 10.20%.

Profit AfterTax (PAT} reported stood Rs.76.21 crore for Q2FY21 as against Rs. 39.88 crore in Q2FY20. The Company's PAT margin stood at 7.51%.

Earnings per share (EPS) for the quarter ended Q2FY21 stood at Rs.1.62 of the Face Value Rs.2 per share.

H1FY21 Highlights

- Total income stands at Rs. 1528.64 crore.
- Revenue from Operations stood at Rs. 1442.92 crore.
- Core EBITDA reported was at Rs. 99.86 crore.
- Profit Before Tax stands at Rs. 163.67 crore.
- Profit After Tax reported was at Rs. 116.09 crore
- EPS stands at Rs.2.47 of the Face Value Rs.2 per share.

Quarterly Highlights

In this quarter, we have bagged two orders worth approx. Rs. 2300 crore. Firstly, a works order for construction of nine Road over Bridges worth more than Rs 400 crore from Ministry of Railways, Government of India. Secondly, Railway Electrification Works for various routes of 2251 Route Kilo meter (RKM) worth approx. Rs.1900 crore on competitive bidding basis among PSUs from the Ministry of Railways, Government of India. Having ramped up our operations significantly and currently construction activities has reached at pre-covid levels.

As of September 30th 2020, the total order book stands at Rs. 31307.84 Crore. The break-up is which is as follows:

Railways: Rs. 29890.40 crore
Highways: Rs. 1417.44 crore

Shares of IRCON International Ltd was last trading in BSE at Rs.80.75 as compared to the previous close of Rs. 83.1. The total number of shares traded during the day was 32936 in over 955 trades.

The stock hit an intraday high of Rs. 84 and intraday low of 80.65. The net turnover during the day was Rs. 2692117.

Source : Equity Bulls

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