Its pan-India presence with no single state contributing >20% of AUM as at Mar’21, coupled with an evolving product portfolio, would enable it to outpace systemic credit growth once the macro turns conducive.
Dedicated cargo initiative is commendable, but the cargo momentum can slow down with return of belly space. Driven by cargo business, SJet’s ancillary revenues grew from Rs 13 billion in FY20 to Rs 19.5 billion (estimated)
The target for reducing specific energy consumption was 31% and company could achieve 22% reduction. The share of renewable energy increased by 8.8% vs target of 16.2% and attained 72% water neutrality vs target of 100%.
Forex gains supported overall ebitda margin: During H1FY21, the company had Rs 500 million as forex gain vs Rs 900 million forex loss in H1FY20. Overall gains on exports due to merchandise from India Scheme (MEIS) had decreas
Current orderbook at Rs 52.2bn (1.1x TTM sales) implies improved visibility. Due to the second wave of covid, near-term outlook is uncertain; however, investment outlook is healthy in medium to long term.