IRCON International Q4 Results Review - To Watch For Execution: IDBI Capital

"NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.IRCON International Ltd.'s Q4 FY24 adjusted profit after tax came lower than our estimate. Reported profit after tax has one off gain of Rs 660 million from prior period claims. Operating performance was weak as Q4 FY24 revenue declined by 1% and and adjusted Ebitda margin at 6.2% was flat QoQ. IRCON guides revenue growth to be flat on YoY basis in FY25and Ebitda margins to be maintained at the same level. Its order win has been lukewarm and order book has seen weakness at Rs 272 billion (FY24) versus Rs 351 billion YoY. This we understand could impact revenue of FY25E/26E, partially could be seen in Q4 FY24. Opportunity remains huge for IRCON and thus awaits order win. We value IRCON on SOTP with target price of Rs 268. Target price implies valuation of ~26 times FY26E EPS and book value basis at 3.6 times FY26E book value. Retain Hold rating on the company, stock catalyst execution uptick and order win..Click on the attachment to read the full report:.Ircon International Q4 Results: Net Profit Rises Over 15% To Rs 286 Crore.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

IRCON International Q4 Results Review - To Watch For Execution: IDBI Capital

IRCON is expecting more order once government approves more high speed corridors

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IRCON International Q4 Results Review - To Watch For Execution: IDBI Capital

IRCON is expecting more order once government approves more high speed corridors

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