Gayatri Projects posted a steady topline growth in the fourth-quarter. The construction firm saw margin expansion while its profit after tax rose in the three months ended March 31.
Throwing more light on the quarterly performance and the outlook going forward, Managing Director TV Sandeep Reddy said the order book in fiscal 2018 was Rs 13,000 crore and order inflow was around Rs 3,000 crore. The margins were around 16 percent.
The company is bidding for some more projects going forward with a target of Rs 4,000-5,000 crore new orders, he said, adding that the order visibility supports a strong growth of 30-35 percent revenue growth over the next 3-4 years, said Reddy.
The standalone gross debt stands at Rs 1,930 crore and net is about Rs 1,690 crore, said Reddy. The company has managed to reduce the long-term debt by Rs 180 crore but again equipment loans of Rs 40 crore were added. So the net debt was down by Rs 140 core.
Going forward, the company aims to reduce debt by monetising non-core assets and bring debt-equity to 1:1, while currently it is 1.5 times.
Revenue rose 15 percent to Rs 933 crore while EBITDA gained to Rs 152 crore in the March quarter from Rs 125 crore a year earlier. Margins rose to 16.3 percent versus 15.4 percent in the corresponding period last year.