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20 Aug 2018
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Vascon Engineers
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Kotak Securities
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40.66
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48.00
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30.40
(33.75%)
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Buy
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Vascon Engineer
Net revenue for the quarter grew at 15.4% yoy to Rs 939 mn driven by 19.8% yoy growth in EPC business at Rs 835 mn while real estate revenue declined by 11.2% yoy to Rs 104 mn. Adjusted for Ind AS 115 impact, the revenue from real estate segment grew by 78% yoy to Rs 208.5 mn. EBITDA margins for the quarter also declined by 110 bps yoy on account of loss reported in the real estate segment due to higher fixed cost to market launch pipeline, lower revenue recognition due to accounting changes and losses recognized in Windermere sale....
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19 Feb 2018
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Vascon Engineers
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Kotak Securities
|
40.66
|
57.00
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34.75
(17.01%)
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Buy
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Vascon Engineer
Vascon Engineers (VEL) reported strong revenue growth in Q3FY18 due to high contribution from real estate business in the quarter. Net sales for the quarter grew at 84.8% yoy to Rs 935 mn with EBITDA turning positive at Rs.65mn and PAT going up to Rs.25 mn, which was inline with estimates. But the contribution from EPC segment was below our estimates at Rs 520 mn Vs estimates of Rs 571 mn as its new projects would contribute meaningfully from Q4FY18 onwards. VEL has external order backlog of Rs Rs 6.7 bn and internal order book of Rs 2.3 bn at the end of Q3FY18. VEL has added Rs 3.7 bn of new orders in 9MFY18 and is well...
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