The thing worth noting here is., that the contract has been awarded for East Coast of India. So this further opens up the avenues in the eastern coastal regions.
But, the disclosure provided to the BSE makes no mention of the amount of Contract & the contract tenure.
The quarterly results don’t look so bad, but when one looks at the full year results, questions start to pop up.
Company reports paying no tax at end of every quarter, but ends up reporting current and deferred tax figures for YTD figures. Are the quarterly EPS figures even reliable? More inclined to believe the yearly EPS figures with figures being reported against the tax head, than the quarterly figures, which implies it would be a mistake to sum up EPS over 4 quarters (the TTM EPS figures reported on various sites are incorrect), but instead recompute EPS from scratch. Disappointed and angry with this reporting.
Company makes note of increased finance costs (correctly), but makes no mention of reason behind increased employee expenses, and neither is there any clarity on the other expenses.
RoE and RoCE figures have dropped on YoY basis. Doesn’t look like the new assets are bringing in more returns. And with the lack of clarity over quarterly EPS, it’s difficult to determine whether the RoE+RoCE figures are improving on a quarterly basis.
Disclosure: exited. I’ll re-enter only after clarity on accounting standards and debt reduction.
