223.3800 5.05 (2.31%)
NSE May 05, 2025 10:38 AM
Volume: 257.2K
 

223.38
2.31%
IDBI Capital
KNR construction LTD (KNRC) Q3FY21 EBITDA was higher than our estimate by 16%. This was led by better execution (revenue up 23% YoY) in the quarter. YTDFY21 order inflow stood at Rs40bn and KNRC guides for incremental orders of Rs30-40bn in Q4FY21. We have increased our execution run rate for FY21 and FY22 to 20% pa and this has resulted in increase in the EPS by 23%/28%. We have revised our valuation multiple for EPC construction business to 18x (earlier 15x), thus TP is revised to Rs254 (earlier Rs172). Stock is up 50% since Dec-20 and re-retaining ACCUMULATE rating on the stock. At our TP, implied valuation is 20x FY23E EPS (30% premium to +1 STD of its means of last 10 years)....
Number of FII/FPI investors increased from 138 to 145 in Mar 2025 qtr.
More from KNR Constructions Ltd.
Recommended