Generic Engineering Construction and Projects Ltd Q3FY21 Revenue at Rs. 36.51 Crore, EBITDA at Rs. 4.64 Crore, Net Profit at Rs. 1.45 Crore

Generic Engineering Construction and Projects Limited ("Company"), a fastemerging construction company offering general contracting, design-build; engineering, procurement and construction (EPC); and project management consultancy (PMC) services for residential, industrial, commercial and Institutional buildings with presence in Navi Mumbai and Mumbai Metropolitan Region (MMR) announced its un-audited financial results for the quarter ended December 31, 2020.

Performance highlights for Q3FY21

Revenue from Operations for Q3FY21 grew by 20.65% to Rs. 36.51 crore as compared to Rs. 30.26 crore in Q2FY21. Whereas Revenue from Operations for Q3FY21 decrease by 10.76% as compare to Q3FY21. The de-growth was on account of impact of COVID-19 Pandemic restrictions for Transportation and availability of migrant labours.

Q3FY21 EBITDA was Rs. 4.64 crore as compared to EBITDA Profit of Rs. 6.96 crore in Q3FY20. Q3FY21 Net Profit stood at Rs. 1.45 Crore, as against PAT of Rs. 2.83 crore in Q3FY20.

Our outstanding order book as at end of December 2020 stands at Rs. 1166.41 Crore. Residential segment (legacy business) contributes about 59.47%, Residential (Govt and Semi Govt) includes 17.76% of the revenue, commercial & industrial segment constitutes 9.19% of revenue, special & Educational projects contribute the 9.01%, while health & leisure contributes the remaining i.e. 4.57%.

On the performance in Q3FY21, Mr. Manish Patel, Managing Director commented, "COVID-19 outbreak has ushered in a host of challenges across all industries. No industry is immune to this crisis and construction sector is no exception. However due to few relaxations of Lockdown restrictions, labour supply availability Industry over all is trying to boost up and so is our Company Generic Engineering Construction and Projects Limited. We are gradually scaling up our execution, post the graded lifting of lockdown. We expect the work to normalize its pace at earliest. We are also aggressively bidding for new projects, especially in the public sector, to build a robust order book, so that we can make up for the revenue lost during the lockdown, in the coming quarter.

Despite the pandemic, the business opportunities in our operating region of MMR have remained promising and we expect the momentum of order inflow, especially in industrial, infrastructure and other sectors to continue. It is our continuous endeavour to add orders from existing and new clients, both in public and private sector and we are confident on further consolidating our order book."

Shares of Generic Engineering Construction and Projects Ltd was last trading in BSE at Rs.55.5 as compared to the previous close of Rs. 56.05. The total number of shares traded during the day was 10892 in over 66 trades.

The stock hit an intraday high of Rs. 57 and intraday low of 54.7. The net turnover during the day was Rs. 608579.

Source : Equity Bulls

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