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Tuesday, August 12, 2014
IVRCL Ltd: Satisfactory Results on Sequential basis
The south India based construction company IVRCL Ltd (Rs.19.80) came out with comparatively good set of numbers in Q1FY15, speaking sequentially; indicating, that the worst is perhaps over. In these kinds of companies it is futile to compare Y-o-Y figures, due to obvious reasons.
The total income of the company for Q1FY15 came out to be Rs.833.50 crore as against Rs.1217.13 Cr in Q4FY14. The expenses came down drastically from Rs.1185.46 Cr in Q4FY14 to Rs.844.77 Cr in Q1FY15. Moreover the finance cost has nosedived to Rs.2.44 cr in Q1FY15 from Rs.44.83 cr in Q44FY14. The net loss of the company came down to Rs.157.92 Cr as against a loss of Rs.328.11 Cr in Q4FY14.
Moreover, the company has an investment of Rs.65.75 Cr in its subsidiary, Hindustan Dorr--Oliver Ltd. During, Q4FY14, corporate Debt Restructuring Empowered Group, at its meeting held in on June 28, 2014 have approved the CDR proposal submited by the company. The BOD of the company in its meeting held on June 30, 201 accepted the LOA and initiated the implementation of the CDR scheme.
The investors should accumulate the scrip on all declines and keep holding. This scrip is expected cross Rs.30-31, in the coming days, as the NDA gives more thrusts on Infrastructure Projects.