Ahuwalia Contracts (India) (532811) Q4 20/21 earnings summary

Executive summary

• FY21 revenue from operations rose 5.16% YoY to ₹198,219.04 lakh; standalone PAT increased 19.87% to ₹7,724 lakh despite COVID-related disruption.

• Gross order book edged down 0.72% YoY to ₹1,226,254.52 lakh; construction remained the dominant business, with execution and collections exposed to pandemic and project risks.

Financial highlights

• Standalone total income was ₹200,450.68 lakh vs ₹189,536.99 lakh; EBITDA was ₹15,424.07 lakh vs ₹15,301.58 lakh.

• Standalone PAT rose to ₹7,724 lakh from ₹6,443.59 lakh; EPS increased to ₹11.53 from ₹9.62.

• Consolidated PAT was ₹7,719.98 lakh vs ₹6,439.16 lakh; consolidated EPS was ₹11.52 vs ₹9.61.

• Operating cash flow increased to ₹25,909 lakh from ₹10,965.50 lakh; cash and cash equivalents reached ₹32,549.15 lakh at FY-end.

• Other income increased to ₹2,231.64 lakh from ₹1,044.30 lakh, including ₹842.73 lakh of liabilities written back.

Outlook and guidance

• Recovery was progressing but remained slow; reaching pre-COVID levels was expected to take time amid supply-chain interruptions, migrant-labour shortages and liquidity constraints.

• Government infrastructure spending, Housing for All, digitisation and adoption of advanced construction technologies were identified as potential sector growth drivers.

• The order book was expected to convert into ₹250,792.09 lakh of revenue within one year, with ₹728,335.19 lakh allocated to remaining performance obligations.