ITD Cementation reported mixed set of Q3FY21 earnings as revenues rose but margins remained flat. Prasad Patwardhan, Chief Financial Officer of ITD Cementation, discussed the numbers.
"This year was a complete washout due to lockdown but subsequent to that we have been seeing quarter-on-quarter (QoQ) improvement in operating performance," he said.
He believes the worst of COVID-19 is behind now and is hopeful to report better numbers in the next year. "Even on the year-on-year (YoY) basis, compared to December 2019, our turnover has gone up by about 12 percent. The COVID-19 is more or less behind us now and we hope to consolidate based on our Q3 performance and continue the good work and hopefully report better numbers and margins in the next quarter and in the next year as well," he said.
In terms of order inflow, Patwardhan mentioned, "Last year the government had also announced the national infrastructure pipeline, so we are hopeful and confident that we will see a lot of orders coming up for tendering in the remaining months of this year as well as in the next year. So we are hopeful of a pick-up in order booking next year compared to this year."
"We have received new orders worth about Rs 3,000 crore this year. Although the order inflow this year has not been as much as it has been in the previous year. It has been a bit muted this year," he added.
The company is looking at orders from export markets as well. "We are looking at some orders outside India. We are looking at orders in the immediate neighbourhood, in Sri Lanka, Maldives, and some of the other countries close by," he added.
On revenues, he said, "We hope to replicate our performance that we have seen in Q3FY21. A lot of orders now are under execution, which will pick-up and it is not going to be too long before we see more than Rs 1,000 crore turnover on a quarterly basis."
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