PSP Projects Q1 Review - Outlook Positive Albeit Impacted Execution: Axis Securities

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..Axis Securities Report.PSP Projects Ltd.'s Q1 FY23 numbers were below our expectations. The company reported revenue of Rs 348 crore (below expectation), up 10% YoY, Ebitda of Rs 48 crore (below expectation) up 22% YoY, and adjusted profit after tax of Rs 29 crore (below expectation), up 17% YoY. It registered Ebitda margins of 13.8% in Q1 FY23 (our estimate: 13.3%) as against 12.4% in Q4 FY21. PSP Projects reported adjusted profit after tax margins of 8.3% in Q1 FY23 against 7.8% in Q1 FY22. As of March 31, 2022, PSP Projects has an order book of Rs 4,613 crore, comprising both public and private sector projects, which implies revenue visibility for the next two-three years. With a robust bidding pipeline, we believe the company is well-placed to capture growth opportunities in the sector..Click on the attachment to read the full report:.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.

PSP Projects Q1 Review - Outlook Positive Albeit Impacted Execution: Axis Securities

PSP Projects Q1 Review - Outlook Positive Albeit Impacted Execution: Axis Securities

Choose a plan