BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Capacite Infraprojects Ltd. reported a weak set of numbers led by slower execution on account of continuous headwinds such as delay in receiving project sites, Covid-19 pandemic and change of contract terms for a marquee client (impact of ~Rs 450 million).
However, labour availability is improving and has already reach March 2021 levels.
Further liquidity position has improved with promoters opting for preferential shares at premium (Rs 160/share) and enhancement of funding (Rs 1 billion) from various banks.
Work at MHADA project (under special purpose vehicle company share 35%) has commenced and is expected to book revenue of Rs 5 billion in FY23E.
Capacite Infraprojects' management indicated bid pipeline to remain strong and expects to bag Rs 20‐25 billion of order inflows in FY23E.
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