Ircon may be able to get some of these work, as they have been doing station redevelopment work in the past.
However, things have changed now. as
these could be through tenders /EPC contracts and competitive bidding.
We have to wait and see.
| - | Achieved highest ever turnover in 1st quarter in Q1FY24. |
|---|---|
| - | Expects to add orders in the range of Rs. 10,000 to Rs. 12,000 crores in the current financial year. |
| - | Core EBITDA margins expected to be in the range of 7.5% to 8.5%. Expects 10% revenue growth rate this year. |
| - | Cash on books is around Rs. 800 to Rs. 900 crores. Plans to make investments of Rs. 500 to Rs. 600 crores in the current year. |
According to this article, For a PSU company to be granted the “Navratna” status, it has to report a net profit of more than Rs 5,000 crore for three consecutive years and maintain an average annual turnover of Rs 25,000 crore for three years or have an average annual net worth of over Rs 15,000 crore for three years.
However, neither IRCON nor Rites meets this criteria. ( reference screener data).
Am I missing something ?
Can anyone through some light on this please?.
