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NSE May 29, 2025 13:47 PM
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Reliance Securities
Soft Performance; Healthy Recovery on the Cards KNR Constructions (KNRC) has reported a soft performance in 1QFY20, mainly led by delay in AD for its key HAM projects and general slowdown in execution due to elections. Revenue declined by 17% YoY and 35% QoQ to Rs4.6bn, while EBITDA stood at Rs900mn (-18% YoY and -38% QoQ) vs. our estimate of Rs1bn. EBITDA margin continued to remain healthy at 19.4% mainly supported by higher revenue contribution from near-completion projects having highmargin components and the impact of IndAS 116. However, soft revenue booking along with higher finance cost and higher tax resulted in steep 36% YoY decline in net profit to Rs477mn. Current order book at Rs46.3bn (2.3x of TTM revenue) compared to Rs40bn in FY19 provides...
KNR Constructions Ltd. has an average target of 310.20 from 5 brokers.
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