Analyst Meet / AGM - Analyst Meet
The claims of around Rs 3600 crore will help in reduction of overall debt in next 12-18 months
The company held its analyst meet on 28th April'16 and was addressed by MD Mr. Ajit Gulabchand
Key Highlights
As on Mar'16, HCC has an order book position of Rs 18123 crore, up by 25% YoY, excluding the LI order book of Rs 4930 crore. As on date, the order book has crossed Rs 20000 crore.
Some of the major orders won during FY'16 include road orders worth more than Rs 2000 crore including Rs 1780 crore from NHAI for 4 lanning of NH 1A, J&K, Single line Tunnel in Assam, Kangchup Road Manipur from PWD, Hydro projects worth more than Rs 1000 crore from NTPC, JKSPDC and DGPC and Nuclear orders of more than Rs 1000 crore from BARC.
About 50% of order book is from road and transport sector, 27% from hydro power, 15% from water and around 9% from Nuclear and other special projects.
Ebidta margin continued to remain healthy and hovered around 20%. Management is confident about strong operating performance of the company. Tight cost control, lower raw material costs helped the margins.
Total debt at consolidated level stood at around Rs 11000 crore. Of this about Rs 4500 crore is accounted for HCC, about Rs 4500 crore for Lavasa, around Rs 4000 crore for subsidiary Steiner Germany and the rest are all Miscellaneous debt.
Steiner AG has an order book position of around Rs 9000 crore as on Mar'16 with order intake of more than Rs 5800 crore in FY'16. The company reported net sales of Rs 4250 crore with loss of Rs 6.5 crore at PAT level. The loss is largely due to higher debt and interest costs.
HCC standalone has a claim of more than Rs 3600 crore as on date. Management is confident of receiving the same in next 12-18 months, which should help in reducing the overall debt of the company.
Further, as per the management, for Lavasa the company is trying for some private equity or stake sale. Management is clear that no more debt to be raised for Lavasa.
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