Ahluwalia Contracts bags order worth Rs 99.50 crore; stock shines

Ahluwalia Contracts (India) Limited has secured a new order worth Rs 99.50 crore for the construction of new civil & structural work for Bandhan Bank headquarters project in Kolkata (West Bengal).

Earlier in the month of August, the company had secured a new order worth Rs 290 crore for the construction of a new building namely, Pt Jawaharlal Medical College & Hospital in Chamba (Himachal Pradesh).

The total order inflow so far in FY21 stands at Rs 389.50 crore. As of March 31, 2020, the company’s order book stood at Rs 7,462 crore. Considering its revenue for FY20, its book-to-bill ratio comes out at 3.9x, giving strong revenue visibility for the next three to four years.

On the financial front, the standalone revenue for the quarter Q1FY21 came in at Rs 249.84 crore as against Rs 404.02 crore in the corresponding quarter last year, registering a 38.2 per cent YoY decline. EBITDA for the quarter fell by 61.1 per cent YoY to Rs 18.52 crore as against Rs 47.57 crore in the corresponding quarter last year, with a corresponding margin contraction of 436 bps. EBITDA margin for the quarter stood at 7.4 per cent. PAT for the quarter came in at Rs 7.47 crore as against Rs 24.11 crore in the corresponding quarter last year, with a YoY decline of 69 per cent.

On Friday, post this order win announcement, the stock of Ahluwalia Contracts surged 4.7 per cent to Rs 265.15 from its previous close of Rs 253.35 on BSE.