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IDBI Capital Report
Ircon International Ltd.'s Q2 FY21 profit after tax came 18% higher than our estimate and it stood at Rs 0.8 billion.
Execution has seen an improvement on QoQ basis and company highlighted in October 2020, its execution run rate is matching pre-Covid-19 levels.
For FY21E, the company guides for revenue of Rs 49-52 billion. Order book as on Q2 FY21 equals to 7 times trailing twelve months revenue and this include Rs 23 billion orders won in Q2 FY21.
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