BOD declares 10% interim dividend to the existing shareholders of the company
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| Mr Radhakrishna Garapati, Chairman and Managing Director, RKEC Projects Limited |
RKEC Projects Limited, a diversified infrastructure company based in Vishakhapatnam, has today announced its financial results for the first half of FY2018. The Company’s net profit for the first half of FY18 rose 400% to Rs. 10.77 crore compared to Rs 2.68 crore posted in H1 of FY 17. The Company’s total revenue grew by 151% to Rs. 122.88 crore for the first half year ended September 30, 2017, compared to Rs. 81.54 crore posted in H1 of FY 17.
The EBITDA for the 1st Half of FY18 stood at Rs 19.82 Cr compared to Rs 4.68 Cr for the H1 of FY 2017 showing a sequential growth of 423%. The EBITDA margin for First Half of FY 2018 stood at 16.12 % and the Net Profit margin was 8.76% compared to 5.75% EBITDA Margin and 3.29%. Net profit Margin of First Half of FY 2017.
Commenting on the financial performance Mr Radhakrishna Garapati, Chairman and Managing Director, RKEC Projects Limited, said, “It gives me immense pleasure to announce the best ever results for RKEC Projects. The Board of Directors has approved giving of 10% interim dividend on the face value of the share i.e Re 1/- per equity share of Rs10/- each fully paid up, based on the performance of the company during First half Year ending 30 Sep 2017.”
Despite the subdued business environment, RKEC Projects achieved the highest turnover of Rs 200.12 Crores for the financial year 2016-17 and our team is confident of leading the growth path by delivering exceptional quality projects resulting in superior shareholder returns in the years to come. The Company has completed 81 projects worth Rs 1,049 crore over the last 32 years and currently working on Seven Projects. The Company’s order book in terms of total value of contracts stands at approximately Rs 705 crore.
RKEC Projects has diversified its project portfolio by entering into high growth sectors such as Defence, Railways and Ports and the company has leading companies like Vedanta Ltd, IVRCL Limited, Rashtriya Ispat Nigam Limited and ESSAR among others, in our portfolio of clients.
From a humble beginning three decades ago to having the Company listed on the SME platform of National Stock Exchange, RKEC Group is proud and delighted to get such a great response from the investors. We thank all our investors, Merchant Banker for their valuable support extended for making RKEC Projects SME IPO a grand success. We also take this opportunity in thanking Gurudev Sri Sri Ravi Shankar for ‘Ringing the Bell ‘on the mementoes occasion of RKEC Projects shares listing on NSE.
“During the last few decades, the Company had undertaken and successfully completed many construction projects in India covering states of Andhra Pradesh, Tamil Nadu, Gujarat, Odisha, Rajasthan and Maharashtra. In addition to them, the Company has expanded its presence to three more states, Kerala, Uttar Pradesh and Manipur, with ongoing projects,” added Mr Radhakrishna.
About RKEC Projects Ltd.
RKEC Projects is engaged in the business of designing and undertaking construction projects such as Bridges, Ports, dams, high rise structures, airports, cross water, roads, highways, Oil and gas Pipelines, complexes and environmental structures across India. RKEC Became 89th SME Company to get listed on NSE Emerge on 9th October 2017. For the period ended March 31, 2017, Company’s total revenue stood at Rs 197.24 crore, EBITDA was Rs 28.37 crore and PAT stood at Rs 12.93 cr, registering a CAGR of over 36%., 31% and 86% respectively since FY 2014
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