KNR Constructions Ltd. News and Updates

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

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KNR Constructions Ltd.

17 Nov 2015

223.66

-1.19%

KNR Constructions - 2QFY16 Result Update

Buy: KNR Constructions Ltd.

Reliance Securities

KNR Constructions (KNRC) reported an impressive performance as top-line grew by ~25% yoy to ~Rs2.1bn (above our estimate of Rs1.7bn) mainly on account of healthy execution and revenue flow from new bagged projects. Operating profit surged by ~16% yoy to Rs349mn. EBITDA margin stood strong at ~16.4% as KNRC has hardly compromised on operating margins while bidding for any new projects. Further, strong operating profit and low tax expenditures led reported net profit to grow 3 times on yearly comparison to Rs554mn. We continue to maintain our positive stance on KNRC mainly on account of its healthy and quality order...

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

KNR Constructions Ltd.

17 Nov 2015

223.66

-1.19%

KNR 17Nov2015

Buy: KNR Constructions Ltd.

Phillip Capital

9 Topline boosted by Other operating income' of Rs 43mn on account of income from JVs.Evenadjustingforthattoplinewas25%aheadofexpectations. 9 AdjustedEBITDAmarginsof16.4%(+200bpsqoq,140bpsyoy)boostedbyexecution...

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

KNR Constructions Ltd.

17 Nov 2015

223.66

-1.19%

KNR Constructions: Q2FY16 Result Review: Execution pick-up to drive earnings (Nov 17, 2015)

Hold: KNR Constructions Ltd.

Karvy

KNR Q2FY16 performance was better than our estimate on account of better execution and higher than expected margins. Revenue of Rs 2.17bn (+27% YoY) and EBITDA of Rs 391mn (+29% YoY) came significantly higher than our respective estimates of Rs 1.76bn and Rs 250mn. EBITDA margin stood at 18% (+23bps YoY, +369bps QoQ), higher than our estimate of 14.2%. Reported PAT increased sharply by 4x YoY to Rs554 mn (much higher than our estimate of Rs 121mn) primarily led by expansion in EBITDA margin coupled with tax refunds related to earlier years.

KNR Constructions Ltd. average weekly volume is high.

KNR Constructions Ltd.

16 Nov 2015

223.66

-1.19%

KNR Constructions Ltd- Research Report

Buy: KNR Constructions Ltd.

Angel Broking

KNR Constructions (KNR) reported strong set of 2QFY2016 numbers. On the top-line (standalone) front, it reported 24.9% yoy increase to Rs213cr (ahead of our estimate of Rs189cr). EBITDA and PAT numbers were ahead of our estimate at Rs35cr and Rs22cr, respectively (v/s our estimate of Rs27cr and Rs11cr, respectively). PAT numbers during the quarter benefitted from prior period tax refunds and interest on such tax refunds to the tune of Rs33cr. On adjusting for the same, Adj. PAT of KNR was at Rs22cr, reflecting an impressive 10.5% Adj. PAT margin. KNRs order book as of 2QFY2016 stands at ~Rs3,665cr, which gives strong revenue visibility for over the next few quarters. Valuation: Improved order book, ramp-up in recently won projects, strong earnings growth potential, and comfortable Balance Sheet, strengthen our view that KNR would continue to trade at rich valuations. On valuing the standalone entity at 15.0x our FY2017E EPS of Rs38.6, and adding value for its Kerala & Muzaffarpur BOT projects, we arrive at FY2017E sum-of-the-parts (SoTP) based price target of Rs673/share, implying 16% upside from the current levels. Given the upside in the stock, we upgrade our rating to Buy.

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

KNR Constructions Ltd.

21 Sep 2015

223.66

-1.19%

KNR Construction: Management Visit: Strong order inflows to drive earnings (Sep 21, 2015)

Hold: KNR Constructions Ltd.

Karvy

The company's order book stands at ~ Rs 36 bn of which ~ Rs 26 bn of orders it has recently won (projects in TN, Kerala and MP) after April 2015. The strong order inflow (current order book is ~ 4x of FY15 revenues) provides better clarity on the future revenue growth.

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

KNR Constructions Ltd.

17 Sep 2015

223.66

-1.19%

Sector Watch: Road sector in for a smooth ride

Economic Times

The latest developments will benefit listed players such as KNR Constructions and Ashoka Buildcon the most, experts said.

KNR Constructions Ltd. is trading above its 50 day SMA of 221.0

KNR Constructions Ltd.

19 Aug 2015

223.66

-1.19%

KNR Construction 19Aug2015

Buy: KNR Constructions Ltd.

Phillip Capital

KNR's topline (Rs 1.7bn, 28% yoy) was significantly below our and consensus estimateofRs2.1bnduetoabackendedorderbook(weexpectexecutionrampup from3QFY16).EBITDA(Rs246mn,21%yoy)wasalsobelowourexpectationsofRs...

KNR Constructions Ltd. is trading below its 100 day SMA of 229.8

KNR Constructions Ltd.

17 Aug 2015

223.66

-1.19%

KNR Constructions (1QFY16) : Its about timing. Maintain BUY

Buy: KNR Constructions Ltd.

HDFC Securities

KNR Constructions (KNRC) reported weak revenue and EBIDTA whilst PAT was in line. Back ended order book/new order wins have yet not translated into execution. Expect revenue pickup from 3QFY16E. EBIDTA margins expanded 122bps/78bps yoy/qoq basis, owing to lower raw material costs. Balance sheet remains healthy with net debt at Rs 590mn (Rs 210mn decrease qoq) & net D/E at 0.1x (vs 0.14x end FY15).Order backlog stood at Rs 35.4bn.

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

KNR Constructions Ltd.

17 Aug 2015

223.66

-1.19%

KNR Constructions - 1QFY16 Result Update

Buy: KNR Constructions Ltd.

Reliance Securities

KNR Constructions (KNRC) reported a weak performance as top-line declined by ~26% yoy to ~Rs1.7bn mainly on account of unseasonal rains (led to revenue loss of ~Rs550mn), which we understand will improve in ensuing quarters along with revenue flow from fresh bagged projects. Operating profit declined by ~10% yoy to Rs280mn. However, EBITDA margin remains impressive at ~16% (up 291bps yoy) as KNRC has hardly compromised with operating margins while bidding for any new projects. Subdued revenue booking led to net profit de-growth of ~24% yoy to Rs150mn. We continue to maintain our positive stance on KNRC mainly...

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

KNR Constructions Ltd.

17 Aug 2015

223.66

-1.19%

KNR: Q1FY16 Result Review Fairly Priced (Aug 17, 2015)

Hold: KNR Constructions Ltd.

Karvy

KNR Q1FY16 net sales of Rs 1.7 bn came ~ 30% below our estimate. It declined 27.6% YoY as the 73.4% of order book (as on Q1FY16) has been won recently, where execution yet to pick-up. EBITDA margin improved by 122bps to 14.4% (64bps above our expectation), due to sharp contraction in sub-contracting expenses (which as a percentage of net sales fell to 9.2% vs 21.6% in Q1FY15). Net profit fell 24.2% YoY to Rs150 mn (in-line with our expectations), due to lower operating performance coupled with 12.1% tax rate compared to 27.1% tax reversal in Q1FY15.