Total Revenue for Q2FY19up 82% at INR 4,291 million and EBITDA Margin for Q2FY19 at 14.5%
HG Infra Engineering Limited, a leading player in the road construction sector, has reported results for first quarter& half year FY19.
Total revenue for the quarter ended September 30,2018 stood at INR 4,291 mn, as compared to INR 2,363 mn in the same period last year, a growth of 82% Y-o-Y. The growth has been on account of robust order book and higher execution. For the half year ended FY19, revenue stood at INR 8,792.8 mn, up 55% Y-o-Y compared to INR 5,673 mn in H1FY18.
EBITDA in Q2FY19 stood at INR 623 mn as compared to INR 338 mn in the corresponding quarter of last year, up 84% Y-o-Y. EBITDA margin improved from 14.3% in Q2FY18 to 14.5% in Q2FY19. Improvement in margins reflects improved operational efficiency. For H1FY19 EBITDA stood at INR 1,294 mn, an increase of 73% Y-o-Y with Margin of 14.7%.
The company reported Net Profit after Tax of INR 246 mn for Q2FY19, as compared to INR 100 mn in the corresponding quarter of last year, growth of 147%. PAT margin improved from 4.2% in Q2FY18 to 5.7% in Q2FY19. PAT for the first half of the current fiscal stood at INR 515.8 mn, up 76% Y-o-Y. Improved profitability is on account of higher execution and better margin.
The Unexecuted Order book as on September 30th, 2018 stood at INR 48,822 mn. Out of the total order book, 88% are EPC contracts and 12% is HAM projects. In terms of state wise, break is as follows; 39% is from Rajasthan, followed by 24% in Maharashtra and 24% from Uttarpradeshand remaining from Uttarakhand,Haryana and Arunachal Pradesh.
Total debt as 30th Sept 2018 stood at INR 3,946 mn. This includes working capital debt of INR 1,376 mn and term loans of INR 1,800 mn and the balance amount of INR 769 mn is Unsecured Loan received from Promoters.
Commenting on performance, Harendra Singh, Chairman & Managing Director, HG Infra Engineering Limited said “We are glad to report robust growth during the quarter, with Revenue growing at 82%, EBITDA margins at 14.5% and PAT more than doubling during the period. We are very confident of surpassing our Revenue guidance of INR 2,000 cr this year. We are optimistic that the ordering activity will gather pace in the rest half of the year and we will receive good orders during the period. That would add to our strong order book of Rs 48,822 million to give us a good visibility of robust growth going forward.”