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Prabhudas Lilladher Report
ITD cementation India Ltd. reported operational losses during the quarter despite healthy execution as the company made provisions of expected losses on account of extended timelines and additional costs due to the pandemic, (and not unlikely to be compensated by the clients).
However, execution witnessed sharp pick-up on the back of labour availability approaching pre-Covid-19 levels.
With operational efficiency across projects likely to normalize by Q4 FY21, recent projects (Rs 30 billion) entering execution stage, robust order inflows and strong bid pipeline, execution momentum is expected to be strong in H2 FY21.
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