JMC Projects jumps on order win of Rs 554 crore

JMC Projects (India) Limited, which is a leading civil engineering and EPC company, has surged 16 per cent on BSE after it bagged new orders worth Rs 554 crore.

The scope of the order includes building a project in South India worth Rs 315 crore as well as a factory project in Maharashtra worth Rs 239 crore.

These new orders will strengthen its portfolio and further help in expanding the client base in the B&F market. To date in FY21, the company has won orders of Rs 4,000 crore. As of June 30, 2020, its order book stood at Rs 11,412 crore. Considering its consolidated revenue of FY20, its book-to-bill ratio stands at 2.9x.

On the financial front, the company’s consolidated revenue for the quarter Q1FY21 came in at Rs 498.38 crore as against Rs 946.92 crore in the corresponding quarter last year, registering 47.4 per cent YoY decline.

EBITDA for the quarter fell by 66.3 per cent YoY to Rs 44.79 crore as against Rs 132.94 crore in the corresponding quarter last year, with a corresponding margin contraction of 505 bps. EBITDA margin for the quarter stood at 9 per cent. It incurred a net loss of Rs 52.21 crore as against a net profit of Rs 20.61 crore in the corresponding quarter last year.

JMC has contributed towards India’s infrastructure by constructing highways, expressways, bridges, flyovers, townships, high-rise buildings, hospitals, industrial units, power plants among others.

On Wednesday, the stock of JMC Projects opened gap-up 12.4 per cent at Rs 60.20 from its previous close of Rs 53.55 on BSE.