Despite experiencing a sharp fall in revenue in the first quarter where the country was in lockdown, BVG India has progressively strengthened during the year, displaying a robust and resilient performance.
BVG India has announced its annual results for the financial year 2020-21. The company reported a fall in the consolidated profit after tax (PAT) to Rs 91 crore in the financial year 2020-21, as against a net profit of Rs 118 crore in the financial year 2019-20.
In June this year, the Company successfully handed over to the customer its maiden Solar EPC project of 100 MW at Chennai, having commissioned it well within the given time. Owing to its award-winning performance in this contract, BVG India further received similar solar EPC contracts in the states of Rajasthan and Uttar Pradesh
The total income generated from operations is Rs. 1669 Crores as compared to Rs. 1933 Crores in 2019-20.
The Company had commenced providing emergency medical services in the union territories of Jammu, Kashmir, and Leh towards the end of last year, and further consolidated it in the current year, gaining wide recognition and appreciation for the services during the COVID outburst, especially from local communities.
EBITDA from continuing operations during the year under review stood at Rs. 232 Crores as against Rs. 252 Crores in the previous year.
In FY20-21, receivables days are very high. It stands at 193 days which shows that company is not able to receive cash in time. CFO/EBITDA stands at 60% which is a little bit on the lower side.
Under Solid Waste Management as being a key contributor in BVG growth, winning contracts in Haryana and Maharashtra.
Financials
Company's Debt = 510 Crores,
Equity = 780 Crores. So, D/E <1 ( comfortable position).
ROE = 11.67%
Despite restrictions imposed due to COVID, BVG India bagged certain prestigious contracts such as RBI Mumbai and IIM Ahmedabad for providing facility management services, while continuing its foray into Infrastructure sector through key contracts for airports and road transport.