HCC Q1 FY22 Consolidated Net Profit at 180 cr

HCC reported consolidated net profit of Rs 179.9 crore in Q1 FY22, as against loss of Rs 409.3 crore in Q1 FY21. The consolidated revenue was Rs 2,503.3 crore in Q1 FY22 against Rs 1,689.8 crore in Q1 FY21.

The Company has sustained its operations momentum despite the devastating COVlD second wave and registered standalone revenues of Rs 1,018.3 crore in Q1 FY22, compared with Rs 462.3 crore in Q1 FY21, registering y-o-y growth of 120%. EBITDA was Rs 172.1 crore in Q1 FY22, compared to Rs 114.9 crore in Q1 FY21. EBITDA margins were at 17%.

HCC, in a joint venture, has been awarded a contract worth Rs 1,147 crore by Chennai Metro Rail Limited. The total order book stood at Rs 17,575 crore by June 30, 2021.

Financial highlights - HCC unaudited standalone results

- Total Revenue of Rs 1018.3 crore in Q1 FY22 versus Rs 462.3 crore in Q1 FY21

- Net loss of Rs 43.2 crore in Q1 FY22 versus Net loss of Rs 217.4 crore in Q1 FY21

- EBITDA margins at 17% in Q1 FY22 compared to 25% in Q1 FY21

- The order book stood at Rs 17,575 crore

Approvals from Lenders are well underway for HCC's debt resolution plan, which will substantially deleverage the Company and place it on a strong growth footing. Funds related to the recently concluded NH34 BOT conciliations were received by the respective SPVs from NHAI during this quarter; the onward release of funds to HCC Group companies is expected shortly.

Performance of HCC subsidiaries:

Steiner AG: Steiner AG reported revenues of CHF 185.9 million (Rs 1,473 crore) in Q1 FY22 as compared to CHF 155.4 million (Rs 1,217 crore) in Q1 FY21 and a profit of CHF 0.5 million (Rs 4 crore) in Q1 FY22 as compared to a net loss of CHF 20.9 million (Rs 164 crore) in the Q1 FY21. The Company secured fresh orders worth CHF 237.3 million (Rs 1,881 crore). The order book stood at CHF 1.33 billion (Rs 10,543 crore) at the end of Q1 FY22. In addition to this, the Company has secured orders for CHF 50 million (Rs 396 crore), where contracts are yet to be signed.

HCC Concessions Ltd.: Baharampore-Farakka Highways Ltd registered a turnover off 42.3 crore in Q1 FY22 vs f 24.3 crore in Q1 FY21, a y-o-y increase of 74% mainly attributable to the COVID-19 lockdown imposed in Q1 FY21. Turnover of Q1 FY22 has also been impacted by the restrictions imposed due to the second wave of COVID-19. With the completion of an additional stretch, BFHL's toll rates have been enhanced by ~20% from May 14,2021, onwards.

Shares of Hindustan Construction Co. Ltd., was last trading in BSE at Rs. 9.7 as compared to the previous close of Rs. 9.24. The total number of shares traded during the day was 208372 in over 299 trades.

The stock hit an intraday high of Rs. 9.7 and intraday low of 9.3. The net turnover during the day was Rs. 1997160.

Source : Equity Bulls

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