RKEC Projects (RKEC) — concall transcript

📢 Key Event
RKEC reported 33% turnover decline to Rs. 95 crores in FY21 due to pandemic-related project delays and working capital constraints.

🔄 What Changed
Turnover fell 33% to Rs. 95 crores; working capital stress persisted with Rs. 65 crore receivable; Bank of Baroda credit limit sanctioned at Rs. 210 crores but deemed insufficient; Rs. 52 crores recovered from Purvanchal Vidyut Vitraan Nigam Limited, with Rs. 28 crores pending.

🔮 What's Next
Management aims to restore turnover to Rs. 300 crores in FY22 by adding oil & gas projects and expanding order book to Rs. 1,000 crores, with confidence in resolving working capital constraints within two months.

💡 Investor Takeaway
Shareholders should note that while FY21 profitability dropped due to external shocks, RKEC has a strong order book and plans to rebuild turnover to Rs. 300 crores in FY22 with improved working capital access.

RKEC Projects Limited discussed FY21 results showing 33% turnover drop to Rs. 95 crores due to pandemic delays in key projects like JNPT and Farakka, working capital constraints from a Rs. 65 crore receivable, and a sanctioned but insufficient Bank of Baroda credit limit of Rs. 210 crores. Chairman Radhakrishna highlighted recovery of Rs. 52 crores from Purvanchal Vidyut Vitraan Nigam Limited, with Rs. 28 crores pending, and plans to restore turnover to Rs. 300 crores in FY22 by adding oil & gas projects. Management emphasized order book strength of Rs. 1,000 crores, confidence in resolving working capital issues within two months, and sustainable 15-16% EBITDA margins despite commodity pressures.

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About RKEC Projects Ltd (RKEC)

Construction · Infrastructure Developers & Operators · Listed on BSE

ROE: -29.3% ROCE: -13.3%

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"What is the exact timeline for completing the pending Rs. 28 crore Purvanchal Vidyut Vitraan Nigam payment?" "How much additional working capital funding beyond the Rs. 210 crore Bank of Baroda limit is needed to bid for new projects?" "What specific oil & gas projects are planned for FY22 to achieve the Rs. 300 crore turnover target?"

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🔥 Also filed on 31 March 2021

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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