Simplex Infrastructures Ltd. News and Updates

Name: Latest research reports of Simplex Infrastructures Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Simplex Infrastructures Ltd.
Rating: 3
Author: ICICI Securities Limited

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Simplex Infrastructures Ltd.

06 Jun 2018

254.20

-1.64%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Recommendation Target

ICICI Securities Limited

SIL's auditors have raised attention on unbilled revenues relating to worth | 860.4 crore pertaining to earlier years. In respect of this, SIL is in regular discussion with concerned customers for completion of necessary certification and recovery. The availability of appropriate audit evidence on these balances has been limited due to geographical spread of operations of SIL and project-specific data being maintained at respective project site. Hence, auditor could not verify these unbilled revenues. However, the management believes this would be resolved over the next...

Institutional Investors have increased holdings from 0.46% to 15.62% in Mar 2025 qtr.

Simplex Infrastructures Ltd.

05 Jun 2018

254.20

-1.64%

Simplex Infrastructure's (SINF) sales increased marginally by 6.3% yoy to Rs16.4bn, below...

Hold: Simplex Infrastructures Ltd.

Target

Emkay

Simplex Infrastructure's (SINF) sales increased marginally by 6.3% yoy to Rs16.4bn, below our estimate owing to slower execution in some key projects. SINF's PAT came in at Rs293.6mn, down 56% yoy due to lower execution, higher interest cost (up 11% yoy) and enhanced tax outflow (26.6% tax rate in Q4FY18 v/s 35.8% in Q4FY17). SINF has secured orders worth Rs76.6bn in FY18, thus taking the total order book to...

Institutional Investors have increased holdings from 0.46% to 15.62% in Mar 2025 qtr.

Simplex Infrastructures Ltd.

20 Feb 2018

254.20

-1.64%

Simplex Infrastructure

Buy: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

The EBITDA margin expanded robustly 160 bps YoY to 13.1% and was above our estimate of 12.5% PAT grew robustly by 68.9% YoY to | 31.1 crore (our estimate: | 36.3 crore) led by strong EBITDA margin expansion and lower effective tax rate (22.5% in Q3FY18 vs. 34.9% in Q3FY17) Orderbook at | 17653 crore, 3.1x of TTM revenues SIL has received strong order inflows worth ~| 1734 crore in Q3FY18, taking its order book to ~| 17653 crore, 3.1x order book to bill ratio on a...

Simplex Infrastructures Ltd. has gained 65.80% in the last 1 Year

Simplex Infrastructures Ltd.

26 Dec 2017

254.20

-1.64%

Simplex Infrastructure

Buy: Simplex Infrastructures Ltd.

Recommendation Target

ICICI Securities Limited

Management confident of recovering monies from old debtors Simplex Infrastructure (SIL) had passed an enabling resolution in Q1FY18 to raise up to | 1000 crore, which would help it in debt reduction and consequent working capital improvement. However, the management has changed its stance. Now, it is looking to reduce debt via receipt of old debtors. It aims to recover ~| 450-500 crore in FY18E and | 800 crore in FY19E from old debtors. SIL's debt has increased significantly by | 248 crore to | 3611 crore as on Q2FY18. Furthermore, SIL expects to receive...

Promoters have decreased holdings from 49.82% to 42.35% in Mar 2025 qtr

Simplex Infrastructures Ltd.

20 Nov 2017

254.20

-1.64%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

ICICI Securities Limited

Simplex Infrastructure reported Q2FY18 results, which were below our estimates on the topline front. However, it was above our estimate on the bottomline front due to strong EBITDA margin expansion and lower effective tax rate Simplex Infrastructure's (SIL) topline de-grew 0.9% YoY to | 1246.0 crore and was below our estimate of | 1319.2 crore possibly on account of muted execution during the quarter EBITDA margin expanded robustly by 90 bps YoY to 13.6% (our...

Institutional Investors have increased holdings from 0.46% to 15.62% in Mar 2025 qtr.

Simplex Infrastructures Ltd.

18 Aug 2017

254.20

-1.64%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research SIL has received order inflows worth ~| 1406 crore in Q1FY18, taking its order book to ~| 16419 crore, 2.9x order book to bill ratio on a TTM basis. It is L-1 bidder for orders worth | 1029 crore. Newly won orders include NTPC order worth | 221 crore, bridges order in Bangalore worth | 203 crore, power transmission order in Andhra Pradesh worth | 188 crore. The management sees metro as a big opportunity and anticipates orders worth ~| 3000 crore in the next three years. Overall, the...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

17 Aug 2017

254.20

-1.64%

Simplex Infra

Sell: Simplex Infrastructures Ltd.

Dolat Capital

SIL posted 7.4% YoY rise in Q1FY18 standalone revenue (increased post 6 consecutive quarters of de-growth) to `15.1bn (in line with estimates) primarily due to better execution in Power and Urban segments. EBITDA margin down 25bps YoY to 11.4% (in line with estimates), due to rise in construction cost which was partly offset by reduction in employee cost. PAT grew 67.0% YoY to `287mn (62.5% above estimates) due to lower tax rate of 21.1% in Q1FY18 vs. 37.7% in Q4FY17. We maintain Sell on the stock...

Institutional Investors have increased holdings from 0.46% to 15.62% in Mar 2025 qtr.

Simplex Infrastructures Ltd.

05 Jun 2017

254.20

-1.64%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Recommendation Target

ICICI Securities Limited

Simplex Infrastructure's (SIL) topline de-grew 0.5% YoY to | 1550.1 crore and was below our estimate of | 1666.5 crore possibly on account of stretched working capital causing muted execution EBITDA margin expanded 79 bps YoY to 13.2% (our estimate: 11.0%) despite muted execution on account of lower raw material expenses (30.5% as percentage of sales in Q4FY17 vs. 34.5% in Q4FY16) PAT zoomed 2.5x YoY to | 66.8 crore (our estimate: | 28.2 crore) despite lower other income and topline de-growth, mainly on account...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

16 Feb 2017

254.20

-1.64%

Simplex Infrastructure

Buy: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Simplex Infrastructure (SIL) reported Q3FY17 results, which were marginally below our estimates on the topline and bottomline front while in line on the EBITDA margin front Topline de-grew 1.8% YoY to | 1377.7 crore (our estimate: | 1468.2 crore) due to stretched working capital causing muted execution The EBITDA margin expanded 70 bps YoY to 11.6% and was in line with our expectation: 11.7%) despite muted execution, mainly on...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

06 Dec 2016

254.20

-1.64%

Simplex Infrastructures: Q2FY17 Result Review: Fairly Valued... (Dec 06, 2016)

Hold: Simplex Infrastructures Ltd.

Target

Karvy

Simplex Q2FY17 operational performance was better than expectations. Though, revenues of Rs 12.63bn (down by 11% YoY) was lower than estimate of Rs 13.68bn, EBITDA of Rs 1.59bn (-4% YoY) was in-line with our estimate of Rs 1.57bn as the margin came higher at 12.7% (+101 bps YoY) vs. estimate of 11.5%. PAT declined 31% YoY to Rs 178mn primarily led by decline in EBITDA and higher tax rate. Going ahead, we expect muted revenue growth during FY17-18E due to cash crunch in the system and working capital stress. However, decline in interest cost (led by reduction in debt) to drive 42% PAT CAGR during FY16-18E. However, valuations look fair. Maintain Hold.

Simplex Infrastructures Ltd. has gained 65.80% in the last 1 Year

Is Simplex Infrastructures Ltd. worth buying?

147 Votes:

Buy 75.51%

Sell 14.97%

Hold 9.52%