KNR Constructions Ltd. News and Updates

Name: Latest research reports of KNR Constructions Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: KNR Constructions Ltd.
Rating: 5
Author: Motilal Oswal

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KNR Constructions Ltd.

02 Aug 2018

215.81

-0.16%

Satisfactory progress on new HAM projects

Buy: KNR Constructions Ltd.

Target

Motilal Oswal

2 August 2018 Infrastructure KNRC has received in principle financial sanctions for three of the four HAM projects the company has won from NHAI and the fourth project is expected to achieve financial closure by August 2018. Full financial closure should happen once KNRC has 80% land available on 3H basis to execute the projects. With financial sanctions in place for the three projects, focus will now be on NHAI making 80% of the land available, which will aid timely execution of the projects in hand. KNRC is in advanced-stage talks to rope in an equity partner in the four NHAI HAM projects it has won. The financial partner will infuse money by way of optionally- convertible bonds during the construction stage, the bonds will have 14% cost of borrowing, and on completion of the project, the bonds will be converted to equity. Total equity investment in the Muzzafarpur project stands at INR9b.

Number of FII/FPI investors increased from 138 to 145 in Mar 2025 qtr.

KNR Constructions Ltd.

20 Jun 2018

215.81

-0.16%

KNR Constructions (Buy)

Business Line

Narnolia Financial KNR Constructions (Buy)CMP: 235.45Target: 327Post the strong order inflow of 4,500 crore in Q4FY18 order book of KNR Constructio

KNR Constructions Ltd. has an average target of 286.50 from 5 brokers.

KNR Constructions Ltd.

11 Jun 2018

215.81

-0.16%

KNR Construct

Buy: KNR Constructions Ltd.

Target

Dolat Capital

Spike in execution from 2HFY19E post dip in 1HFY19E KNR's revenue grew 29.5% YoY in Q4FY18 to `6.2bn (19.2% above estimates) led by better execution. The EBITDA margin expanded 435bps YoY to 22.3% (135bps above estimates) due to lower subcontracting costs and few projects nearing completion having better margins. Depreciation has increased sharply by 152% YoY (up 32.2% QoQ) to `491mn due to higher asset utilization for couple of irrigation projects with shorter execution period. Adj. PAT grew sharply by 52.1% YoY to `797mn (81.7% above...

KNR Constructions Ltd. has lost -44.48% in the last 1 Year

KNR Constructions Ltd.

08 Jun 2018

215.81

-0.16%

KNR Constructions Ltd | Q4FY18 Result Update

Buy: KNR Constructions Ltd.

Target

Edelweiss

KNR constructions (KNR), one of best managed road constructer with light balance sheet, low working capital and one of the highest RoCE among peers, reported its Q4FY18 numbers.

Axis Direct decreased Hold price target of KNR Constructions Ltd. to 195.0 on 02 Jun, 2025.

KNR Constructions Ltd.

04 Jun 2018

215.81

-0.16%

KNR Constructions - 4QFY18 Result Update

Buy: KNR Constructions Ltd.

Target

Reliance Securities

KNR Constructions (KNRC) continued to report healthy performance in 4QFY18, led by superior execution and strong margins. Its reported revenue grew by 30% YoY and 44% QoQ to Rs6.2bn, while EBITDA surged by 67% YoY and 23% QoQ to Rs1.2bn. Order inflow from EPC remained muted during FY18 as EPC order intake (barring HAM) stood at Rs5.6bn during the year, taking order backlog to Rs23bn (1.2x FY18 revenue) as of FY18-end. Considering the recently won HAM projects (5 projects with an aggregate value of Rs56bn), KNRC can add Rs39.8bn to its EPC order book out of these HAM projects, which is likely to ensure sustainable growth for standalone business. KNRC expects EPC revenue flow from these HAM projects to start from 3QFY19...

Axis Direct decreased Hold price target of KNR Constructions Ltd. to 195.0 on 02 Jun, 2025.

KNR Constructions Ltd.

31 May 2018

215.81

-0.16%

KNR Constructions (4QFY18): A steady ship. Maintain BUY

Buy: KNR Constructions Ltd.

Recommendation Target

HDFC Securities

We continue to maintain BUY with SOTP of Rs 364/sh. KNRC continues to outperform its growth guidance and delivered strong 4QFY18 revenue at Rs 6.2bn which was 25.9% above estimates. Revenue for FY18 came in at Rs 19.3bn (+25.3% YoY). EBITDA margin for FY18 was 20.0% on account of cost reversals in several near completion projects. We estimate sustainable margins to be around 15-16% after considering contribution from HAM projects.

Number of FII/FPI investors increased from 138 to 145 in Mar 2025 qtr.

KNR Constructions Ltd.

31 May 2018

215.81

-0.16%

Performance beat driven by better-than-expected execution

Buy: KNR Constructions Ltd.

Target

Motilal Oswal

4QFY18 revenue grew 29.5% YoY to INR6.2b, beating our estimate of INR4.9b, supported by smooth execution of projects in hand. Operating profit grew 67% YoY to INR1.2b, ahead of our estimate of INR0.98b, supported by better than expected 31 May 2018 4QFY18 Result Update Infrastructure execution. Operating margin expanded 430bp YoY to 19.3%, missing our estimate of 19.8%. PAT grew 52.1% YoY to INR798m, beating our estimate of INR450m, given lower than estimated tax rate (1.7% v/s estimate of 28.3%) and higher than estimated other income (INR183m v/s estimate of INR92m). 2018, order backlog stood at INR23.

KNR Constructions Ltd. has lost -36.43% in the last 6 Months

KNR Constructions Ltd.

26 Apr 2018

215.81

-0.16%

KNR Construct

Buy: KNR Constructions Ltd.

Target

Dolat Capital

KNR, primarily focused on road EPC, HAM and irrigation shall behold spike in growth in revenue from 2HFY19E as execution on recently won `44.7bn (EPC value `31bn) HAM projects kicks in. Albeit, the revenue is expected to decline during 1HFY19E due to slower execution pace on old projects impacted by project specific issues (land acquisition, etc.) particularly in road segment. The company will continue to focus on road and irrigation sector and expect fresh order inflow of `20bn/ `30bn in FY19E/ FY20E,...

KNR Constructions Ltd. has lost -36.43% in the last 6 Months

KNR Constructions Ltd.

25 Apr 2018

215.81

-0.16%

KNR Construct

Buy: KNR Constructions Ltd.

Kotak Securities

We recently visited KNR's Pollachi to Coimbatore EPC project where we interacted with the top management of the company. The company is positive on its construction business in the longer run and believes that traction in order inflows...

KNR Constructions Ltd. has lost -44.48% in the last 1 Year

KNR Constructions Ltd.

23 Apr 2018

215.81

-0.16%

The Corner Office: Growth concerns addressed

Buy: KNR Constructions Ltd.

Motilal Oswal

KNRC has been able to ramp up order inflows by winning four HAM projects with an EPC business opportunity of INR31b, leading to order backlog of INR59b and providing revenue visibility of 3.3x its TTM revenue. Incrementally, KNRC expects order inflow of INR30b to materialize in 1HFY19 (two projects in Telanga and one KSHIP project), which will further boost its revenue visibility. With healthy order inflows and potentially strong order inflow piepline, concerns on growth have been addressed by the company With revenue growth visibility concerns being addressed by the company, focus has now shifted to successfully executing projects after achieving financial closure for the same. Currently, all the four HAM projects have 80% land available on 3D basis (publication of notification to acquire land in gazette) and expectation is to have 80% land availability on 3H stage (compensation being paid) by September 2018.