KNR Constructions Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for KNRCON, BSE:532942 KNR Constructions Ltd.

KNR Constructions Ltd.

17 Feb 2020

136.63

-0.46%

KNR Construction

Buy: KNR Constructions Ltd.

Target

ICICI Securities Limited

Order book at | 6,523.3 crore as of Q3FY20 KNR's order book (OB) order book was at | 5,888.3 crore as of Q3FY20, implying 2.9x order book-to-bill ratio, giving revenue visibility ahead. This OB does not include | 920 crore Palani HAM project. KNR is looking forward to incremental | 1,000-1,500 crore order inflow in February, March, 2020 & | 2,000-2,500 crore in FY21E. On the execution front, the management has guided at completing the three ongoing HAM projects in FY21E. The KSHIP project has received appointed date in February, 2020 and execution is...

KNR Constructions has lost -38.97% in the last 6 Months

KNR Constructions Ltd.

15 Feb 2020

136.63

-0.46%

KNR Constructions (3QFY20): Steady performance. Maintain BUY

Buy: KNR Constructions Ltd.

Target

HDFC Securities

KNR delivered yet another steady quarterly performance. Order wins are on track with 4QFY20 ask at Rs 8bn to meet the Rs 30bn FY20 order intake guidance. KNR has entered into Kerala BOT stake sale arrangement with Cube Highways for equity consideration of Rs 3.9bn (expected by Mar/Apr'20). For 3 HAM projects Rs 1.7bn investment, KNR expects to receive Rs 3.3bn over the next 4yrs. Strong balance sheet, periodic BOT/HAM equity churn and robust execution capability reinforces our positive stance on KNR. We maintain BUY. Key risks (1) Slowdown in government ordering (2) Higher crude and cement prices (3) Increase in interest rates and (4) Further liquidity tightening in the financial sector. We maintain BUY on KNR with SOTP-based TP of Rs 376/sh (valuing core EPC business 18x FY21EPS at Rs 317/sh, Subsidiaries Rs 60/sh). KNR delivered yet another steady quarter with Revenue/EBIDTA/APAT beat/(miss) of (0.4)/17/(12)% respectively.

KNR Constructions has lost -38.97% in the last 6 Months

KNR Constructions Ltd.

15 Feb 2020

136.63

-0.46%

KNR Constructions (BUY): Healthy quarter; execution to pick up from Q4

Buy: KNR Constructions Ltd.

Target

BOB Capital Markets Ltd.

KNR Constructions' (KNRC) Q3FY20 core revenue ex-arbitral awards grew 23% YoY to Rs 5.5bn and core EBITDA margin beat estimates at 22% (+170bps YoY).

Number of FII/FPI investors decreased from 134 to 128 in Dec 2025 qtr

KNR Constructions Ltd.

14 Feb 2020

136.63

-0.46%

KNR Constructions Ltd - Result Update Q3FY20

Buy: KNR Constructions Ltd.

Edelweiss

KNR constructions (KNR), reported a decent topline growth and stellar operating margins. On a standalone basis revenue grew by 24% YoY to INR 558 cr which was below expected 30% YoY growth.

KNR Constructions Ltd. is trading below all available SMAs

KNR Constructions Ltd.

10 Jan 2020

136.63

-0.46%

KNR Construction

Buy: KNR Constructions Ltd.

Target

ICICI Securities Limited

Enters into SPA with Cube for Walayar BOT project KNR has entered into a share purchase agreement (SPA) with Cube Highways to sell its 100% entire equity stake in KNR Walayar Tollways BOT toll asset. The EV of this deal is | 529.3 crore excluding claims receivables (worth | 170 crore) from NHAI & other government instrumentalities, which would be passed to KNR Constructions as and when realized. As of Q2FY20, KNR Walayar SPV had total | 143.1 crore debt, implying equity value of | 386.2 crore. KNR had infused total | 397.4 crore in this toll project, which...

KNR Constructions Ltd. has an average target of 175.25 from 5 brokers.

KNR Constructions Ltd.

10 Jan 2020

136.63

-0.46%

Balance sheet strengthens further

Buy: KNR Constructions Ltd.

Target

Motilal Oswal

10 January 2020 KNR has entered into a share purchase agreement with Cube Highways to sell its 100% stake in the Walayar road project. Total enterprise value of the deal stands at INR5.3b. As of Sep19, debt on the project was at INR1.4b. Thus, the equity value of the deal is estimated at ~INR3.9b or P/Inv of ~1x. This is in line with our valuation of the project. There are further NHAI claims and other governmental instrumentalities, which are a pass through to KNR as and when realized. Taking this into account, the deal value may surpass our valuation of the project. The transaction is likely to close in another 2-3 months. We factor in proceeds of INR3.9b by end-Mar20. KNR has already monetized three of its HAM projects. We expect the balance sheet to strengthen further with net cash position of >INR2b/5b by FY21/22.

KNR Constructions has lost -38.97% in the last 6 Months

KNR Constructions Ltd.

21 Nov 2019, 12:00AM

136.63

-0.46%

KNR CONSTRUCTIONS LIMITED

Buy: KNR Constructions Ltd.

Recommendation Target

Geojit BNP Paribas

KNR Constructions Ltd (KNR) is a leading EPC player largely focusing on national and state highway projects. KNR has successfully executed ~6,000 lane km road projects across 12 states in India....

KNR Constructions has lost -57.30% in the last 1 Year

KNR Constructions Ltd.

19 Nov 2019

136.63

-0.46%

KNR Constructions Ltd - Result Update Q2FY20

Buy: KNR Constructions Ltd.

Edelweiss

KNR Constructions (KNR), reported a stellar set of numbers well making up for poor performance in last quarter.

KNR Constructions Ltd. has an average target of 175.25 from 5 brokers.

KNR Constructions Ltd.

18 Nov 2019

136.63

-0.46%

KNR - 2QFY20 Result Update

Buy: KNR Constructions Ltd.

Target

Reliance Securities

KNR Constructions (KNRC) Continued to report a strong operating performance in 2QFY20 with margin exceeding our estimate with the wide range yet again. Revenue grew by 31% YoY and 17% QoQ to Rs5.5bn (including Rs180mn claims received/booked in revenue) vs. our estimate of Rs5.1bn mainly led by pick-up in execution in HAM projects. Adjusted for claim booked, EBITDA margin stood at strong 19.7% way ahead of ours and even the Company's own guidance. APAT declined by 7% YoY to Rs420mn (but higher than our estimate of Rs395mn) mainly led by higher tax, as new projects do not enjoy any tax benefit. Order book as on 30th Sept'19 stood at Rs51.5bn (excluding Rs15.4bn EPC order components from 2 AD pending HAM...

KNR Constructions Ltd. has an average target of 175.25 from 5 brokers.

KNR Constructions Ltd.

18 Nov 2019

136.63

-0.46%

KNR Construction

Buy: KNR Constructions Ltd.

ICICI Securities Limited

Orderbook at | 6,681.8 crore as of Q2FY20 KNR's order book (OB) was at a strong | 6,681.8 crore (including the recently won HAM project and Karnataka State Highways Improvement Project (KSHIP) HAM project), implying order book-to-bill ratio of 3.1x (on TTM basis). The OB consists of | 4,830.6 crore from roads division and | 1,850.4 crore from irrigation. On the new orders front, it secured order inflows (OI) worth | 1,800 crore (comprising | 1,700 crore irrigation projects and | 100 crore from change in scope at certain projects). KNR is targeting incremental...

KNR Constructions has lost -38.97% in the last 6 Months

Is KNR Constructions Ltd. worth buying?

523 Votes:

Buy 84.7%

Sell 6.88%

Hold 8.41%

RESEARCH REPORTS

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