BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Garden Reach Shipbuilders and Engineers Ltd. reported an impressive Q4 FY21.
While revenues were down 13%YoY, Ebitda was Rs 375 million, up 9% YoY; margins at 9.4%.
Both inventory and payable days for FY21 appear inflated, perhaps as a precursor to higher execution in FY22E.
What has helped the outlook of working capital the most is a normalised receivable days at 57 (136 YoY).
First of the three P17A stealth frigates (P17A forms the largest portion of the company's orderbook) was launched in December 2020 and will lead to accelerated revenue accretion in the next two years.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
