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SAARC witnessed healthy pipeline of enquiries, Order book of many EPC players remain healthy thereby providing revenue visibility for the next 2-3 years. Sectors like Infrastructure, Power T&D;, Water, Railways & Metro, Data Centre, Commercial realty, FGD, GEC etc. are witnessing good traction in order inflows. Key monitorables would be conversion of orders, impact of second VAMP (PAT-11% CAGR, Upside-39%)...

companies, revenue is expected to grow by 2% YoY owing to rising labour availability (80-90% pre-Covid levels in Sept'20 vs 60-70% in Aug'20), timely disbursal of payments from Government authorities supporting working capital requirement and healthy ordering momentum both from domestics as...

companies, revenue is expected to grow by 2% YoY owing to rising labour availability (80-90% pre-Covid levels in Sept'20 vs 60-70% in Aug'20), timely disbursal of payments from Government authorities supporting working capital requirement and healthy ordering momentum both from domestics as...

Revenue, EBITDA expected to grow 4.6%, 12.1%, respectively Overall, the coverage universe revenue is expected to grow 4.6% YoY owing to further rebound in execution sequentially at engineering and T&D; companies like L&T;, KEC, KPTL, BEL and Cochin Shipyard. The international business is likely to aid performance of companies like L&T;, KEC, AIA, Elgi, etc. We expect EBITDA to grow 12.1% YoY mainly due to positive operating leverage in product companies and better execution by EPC companies amid the economy gradually normalising. Consequently, overall...

companies with revenues de-growing by 40% YoY led by a) nationwide lockdown till April end, b) impact of pandemic felt across segments, c) concerns on supply side plus migrant labour issues and d) deferment of...

companies with revenues de-growing by 40% YoY led by a) nationwide lockdown till April end, b) impact of pandemic felt across segments, c) concerns on supply side plus migrant labour issues and d) deferment of...

Overall, EPC companies (KEC, Kalpataru and L&T;) are expected to post revenue, EBITDA and PAT decline of 0.1%, -4.1%, and 1.2%, respectively, amid lockdowns. Power T&D; EPC companies (KEC, Kalpataru) are expected to report revenue, EBITDA, PAT decline of 6.5%, 16.2%, 9.5% YoY, respectively, due to a slower order execution rate. L&T; (standalone, exE&A;) is likely to report a weak performance with revenue expected to grow marginally by 1.6% YoY to | 29881.9 crore, EBITDA to decline 1.6% to | 3152.5 crore and adjusted PAT expected to grow 2.7% at | 2458.6 crore. Thermax' revenue, EBITDA are expected to de-grow by 31.2%, 47.5%,...

Companies like Larsen & Toubro and KEC with exposure to the Middle East and North Africa (MENA) region are expected to get impacted by the recent more than 60% fall in crude oil prices to US$22/barrel. This is expected to impact overall orders/awarding from the MENA region. Companies like Elgi Equipments, AIA Engineering, Thermax, Engineers India and Kalpataru Power with exposure to international geographies like Europe, Middle East, China for sales or essential raw material may get impacted. However, lockdowns in India, UK, Europe and other geographies due to Covid-19 are...