Any current/future new fundraising through debt or equity?

Sadbhav Engineering has reduced standalone debt by Rs. 90 Crores in April, indicating active debt management. SIPL has completed equity infusion for all HAM projects by end of April, improving liquidity. Equity infusion and monetization efforts, including sale of assets like Ahmedabad Ring Road, three HAM projects, and Maharashtra Border Check Post, are ongoing to deleverage the balance sheet. Raised Rs. 991 Crores in April through asset monetization supporting cash flow. Long-term debt raised from Alliance and AMP after March 2021 to replace mutual fund debt. Working capital and fund limits a

Any current/future capex/capital investment/strategic investment?

FY2022 capex depends on new projects as existing projects already have equipment in place (Page 16). No specific capex numbers provided due to dependency on new project acquisitions (Page 16). Current focus is on EPC projects with bids submitted for six road EPC projects worth Rs.11,200 Crores (Page 6). SIPL has completed equity infusion of Rs.1,070 Crores for nine HAM projects, indicating strategic investment in HAM projects (Page 4). Monetization of assets like Ahmedabad Ring Road and Maharashtra Border Check Post is underway to raise funds and support equity commitments (Pages 6, 12). No im

Future growth expectations in sales/revenue/volumes?

For FY2022, Sadbhav Engineering expects a **15% to 20% growth** in revenue compared to FY2021. Growth driven by revenue from newly started projects such as **Surat Metro and Dholera projects** which will contribute additional revenue this year. The company aims to improve the revenue run rate, targeting **Rs.600 Crores to Rs.700 Crores per quarter** once COVID-related disruptions normalize. Focus remains on executing and winning new EPC projects; bids worth around **Rs.11,200 Crores** have been submitted for six road EPC projects. Monetization of assets like Ahmedabad Ring Road, Maharashtra Bo

Future growth expectations in earnings/operating earnings/profits/EPS?

Revenue guidance for FY2022 anticipates a 15% to 20% growth over FY2021, driven by ongoing and new projects like Surat Metro and Dholera. EBITDA margin is expected to stabilize around 12%-13% based on the current order book and normal course of operations. The company aims to improve execution with full operational activity post-COVID second wave disruptions, potentially increasing quarterly revenue run rates toward Rs.600-700 Crores. Other income benefits from interest and write-backs contributed positively in Q4, possibly supporting profitability. Focus remains on EPC projects with bids subm

Current/ Expected Orderbook/ Pending Orders?

As of March 31, 2021, the total order book stands at Rs.9,328 Crores. Segment-wise order book breakdown is provided in the media release (details not specified here). SIPL has a current outstanding order book of Rs.3,990 Crores, including ongoing HAM projects and SPVs sold to IndInfravit Trust. Six road EPC projects worth Rs.11,200 Crores have bids submitted; bid openings are expected soon. Executable order backlog is estimated at around 60%-70% of total order backlog of Rs.9,300 Crores, considering some projects are pending land acquisition. Irrigation projects have moved partially; mining ha

Sadbhav Infrastructure ProjectsQ1 FY22Construction

Sadbhav Infrastructure Projects Q1 FY22 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹3.27P/E: 1.0Market Cap: ₹115 CrSector: Construction

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

For FY2022, Sadbhav Engineering expects a 15% to 20% growth in revenue compared to FY2021.
Growth driven by revenue from newly started projects such as Surat Metro and Dholera projects which will contribute additional revenue this year.
The company aims to improve the revenue run rate, targeting Rs.600 Crores to Rs.700 Crores per quarter once COVID-related disruptions normalize.
Focus remains on executing and winning new EPC projects; bids worth around Rs.11,200 Crores have been submitted for six road EPC projects.
Monetization of assets like Ahmedabad Ring Road, Maharashtra Border Check Post, and HAM projects is expected to strengthen the balance sheet and support growth.
Execution is anticipated to improve as land acquisition and pandemic-related delays are resolved, aiding topline expansion.

Margin guidance

Category 3

Revenue guidance for FY2022 anticipates a 15% to 20% growth over FY2021, driven by ongoing and new projects like Surat Metro and Dholera.
EBITDA margin is expected to stabilize around 12%-13% based on the current order book and normal course of operations.
The company aims to improve execution with full operational activity post-COVID second wave disruptions, potentially increasing quarterly revenue run rates toward Rs.600-700 Crores.
Other income benefits from interest and write-backs contributed positively in Q4, possibly supporting profitability.
Focus remains on EPC projects with bids submitted worth approx. Rs.11,200 Crores, expected to sustain growth momentum.
Tax planning includes utilizing available MAT credit (~Rs.110 Crores), with flexibility on tax regime choices to optimize net profitability.
Debt reduction and monetization strategies are ongoing to improve financial health, indirectly supporting future earnings growth.

See what Sadbhav Infrastructure Projects management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Sadbhav Engineering has reduced standalone debt by Rs. 90 Crores in April, indicating active debt management.
SIPL has completed equity infusion for all HAM projects by end of April, improving liquidity.
Equity infusion and monetization efforts, including sale of assets like Ahmedabad Ring Road, three HAM projects, and Maharashtra Border Check Post, are ongoing to deleverage the balance sheet.
Raised Rs. 991 Crores in April through asset monetization supporting cash flow.
Long-term debt raised from Alliance and AMP after March 2021 to replace mutual fund debt.
Working capital and fund limits appear adequate; no liquidity crunch reported.
Focus remains on EPC bidding (Rs. 11,200 Crores worth submitted), possibly requiring future funding depending on project wins.
No explicit announcement of fresh equity or debt fundraising, but active capital restructuring and monetization ongoing to improve financial position.

Order book

As of March 31, 2021, the total order book stands at Rs.9,328 Crores.
Segment-wise order book breakdown is provided in the media release (details not specified here).
SIPL has a current outstanding order book of Rs.3,990 Crores, including ongoing HAM projects and SPVs sold to IndInfravit Trust.
Six road EPC projects worth Rs.11,200 Crores have bids submitted; bid openings are expected soon.
Executable order backlog is estimated at around 60%-70% of total order backlog of Rs.9,300 Crores, considering some projects are pending land acquisition.
Irrigation projects have moved partially; mining has not moved this quarter.
Some non-executable portions include irrigation with Rs.170-180 Crores under execution.
The focus is currently on EPC bids and projects with significant competition.

See what Sadbhav Infrastructure Projects management said on order book — free account, 30 seconds.

Capex plans

Yes

FY2022 capex depends on new projects as existing projects already have equipment in place (Page 16).
No specific capex numbers provided due to dependency on new project acquisitions (Page 16).
Current focus is on EPC projects with bids submitted for six road EPC projects worth Rs.11,200 Crores (Page 6).
SIPL has completed equity infusion of Rs.1,070 Crores for nine HAM projects, indicating strategic investment in HAM projects (Page 4).
Monetization of assets like Ahmedabad Ring Road and Maharashtra Border Check Post is underway to raise funds and support equity commitments (Pages 6, 12).
No immediate new bids or capex mentioned apart from existing submitted bids; waiting for bid openings to decide further (Page 12).

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Sadbhav Infrastructure Projects Q1 FY22 Earnings Call Analysis

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