Ahluwalia Contracts Q2 Results Review - Retain Estimate: IDBI Capital

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..IDBI Capital Report.Ahluwalia Contracts India Ltd. Q2 FY24 profit after tax came higher than our estimate by 15% and H1 FY24 earnings per share forms 40% of our FY24E estimate. Beat in the result is led by better execution, as revenue increased by 45% YoY in Q2. Despite beat in the result, we retain our estimate. As pollution led construction ban, impact could impact revenue growth in H2 FY24. We have modeled H2 FY24E revenue growth of 17%. Ahluwalia Contracts' consistency in order win has continued in FY24E. Company till date has won orders of Rs 52 billion (in FY23 order inflow was Rs 50 billion) and is level one in a orders. Company was declared level one in gems and jewellery park in Navi Mumbai but the quote is more than the budget of the project so the redesigning of park project is in process. We have valued Ahluwalia Contracts at 15 times FY25E EPS (+1STD mean) to arrive at target price of Rs 772. Retain 'Hold' rating due to rich valuation..Click on the attachment to read the full report:.Ahluwalia Contracts, KNR Constructions Q2 Results Review - HDFC Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ahluwalia Contracts Q2 Results Review - Retain Estimate: IDBI Capital

Ahluwalia Contracts has delivered 45% YoY revenue increase in Q2 FY24.

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