Stock Report

Capacit'e Infraprojects Ltd reports Q3 & 9M FY24 Results

Posted On : 2024-02-15 18:10:48( TIMEZONE : IST )

Capacit'e Infraprojects Limited ("Company"), a fast-growing construction company providing end to end services for residential, commercial, and Institutional building with a presence in Mumbai Metropolitan Region (MMR), Gandhinagar, Pune, Goa, Chennai, National Capital Region (NCR), Kochi, Hyderabad and Bengaluru today announced its Unaudited Financial results for the quarter & nine months period ended December 31, 2023.

Consolidated Performance highlights for Q3 FY24

- Revenue from Operations for Q3 FY24 stood at ₹ 481 crores as compared to ₹ 443 crores in Q3 FY23.

- EBIDTA for Q3 FY24 stood at ₹ 89 crores as compared to ₹ 90 crores in Q3 FY23. EBIDTA margin for Q3 FY24 stood at 18.5% as compared to 20.1% in Q3 FY23.

- EBIT for Q3 FY24 stood at ₹ 63 crores as compared to ₹ 56 crores in Q3 FY23. EBIT margin for Q3 FY24 stood at 13.0% as compared to 12.4% in Q3 FY23.

- PBT for Q3 FY24 stood at ₹ 41 crores as compared to ₹ 31 crores in Q3 FY23. PBT margin for Q3 FY24 stood at 8.4% as compared to 6.9% in Q3 FY23.

- PAT for Q3 FY24 stood at ₹ 30 crores as compared to ₹ 23 crores in Q3 FY23. PAT margin for Q3 FY24 stood at 6.1% as compared to 5.1% in Q3 FY23.

Consolidated Performance highlights for 9M FY24

- Revenue from Operations for 9M FY24 stood at ₹ 1,333 crores as compared to ₹ 1,352 crores in 9M FY23.

- EBIDTA for 9M FY24 stood at ₹ 243 crores as compared to ₹ 275 crores in 9M FY23. EBIDTA margin for 9M FY24 stood at 17.9% as compared to 20.3% in 9M FY23.

- EBIT for 9M FY24 stood at ₹ 163 crores as compared to ₹ 167 crores in 9M FY23. EBIT margin for 9M FY24 stood at 11.4% as compared to 12.3% in 9M FY23.

- PBT for 9M FY24 stood at ₹ 94 crores as compared to ₹ 99 crores in 9M FY23. PBT margin for 9M FY24 stood at 7.0% as compared to 7.3% in 9M FY23.

- PAT for 9M FY24 stood at ₹ 69 crores as compared to ₹ 74 crores in 9M FY23. PAT margin for 9M FY24 stood at 5.1% as compared to 5.4% in 9M FY23.

- Gross Debt stood at ₹ 345 crores with Gross Debt to Equity at 0.27x

- Net Debt stood at ₹ 190 crores with Net Debt to Equity at 0.15x

The working capital cycle (excluding retention) stood at 123 days in Q3 FY24 as compared to 152 days in Q2 FY24. We are focused towards meaningful reduction in working capital cycle during the current financial year.

The Company continued its focus on increasing execution across projects.

Order book on standalone basis stood at ₹ 9,670 crores as of December 31, 2023. Public sector accounts for 65% while private sector accounts for 35% of the total order book.

On the performance Mr. Rohit Katyal, Executive Director commented, "Current quarter is a milestone quarter in the Company's history as we achieved highest ever quarterly turnover and profit after tax. Over the past few years, while our order book size has expanded significantly, our project under execution have reduced leading to higher revenue contribution per project, better management and improved margin profile.

The overwhelming response to our ₹ 200 crores Qualified Institutional Placement depicts Institutional Investor's confidence in our business model. We are embarking towards a higher growth phase, backed by a diverse order book from distinguished clients in both public and private sector. The equity infusion and additional tie up of non-fund based limits from banks will further improve our liquidity position. This coupled with execution ramp up across projects, will help us further improving our working capital cycle and profitability. With the healthy order book and sustained order inflow and our expertise in executing and delivering projects on time, we are optimistic that we shall witness a healthy and sustainable growth."

Key Updates

- Achieved highest ever Quarterly turnover and Profit after Tax. We believe the momentum should continue.

- Successfully raised ₹ 200 crores by way of Qualified Institutional Placement in January 2024. The raised capital will be strategically utilized to fuel our future growth and fortify our operational capabilities, allowing us to deliver exceptional value to our clients and stakeholders.

- Awarded projects worth ₹ 1,725 crore during 9M FY24

Shares of Capacit'e Infraprojects Limited was last trading in BSE at Rs. 257.60 as compared to the previous close of Rs. 246.10. The total number of shares traded during the day was 77695 in over 1915 trades.

The stock hit an intraday high of Rs. 259.50 and intraday low of 241.80. The net turnover during the day was Rs. 19695089.00.