Kridhan Infra Ltd. share price target

Kridhan Infra Limited is an India-based holding company. The Company operates as an engineering company, which provides pre-cut/bend bars (readymade steel bars) from 6 millimeters (mm) to 40 mm diameter; coupler, which is used to join two rebars of the same mechanical splice, and concrete piles, bored and cast-in place using dry and wet boring methods based on ground conditions enabling installation of larger diameter piles and permit construction through particularly stiff or hard soil. Its segments include India and outside India. The Company provides mechanical splicing (couplers) and threading solutions in India. Its services include bored piling...

Possible re-rating on cards : maintain BUY Kridhan Infra is a 2nd largest player in Foundation Engineering in Singapore with ~10% market share, having executed over 250 projects overseas and 11 projects in India. It has presence in 5 countries with strong in-house technical skills in piling work to dig up to 60-90 meters. Its expertise in construction and infrastructure projects like Metro Rail, Ports, Industrial Projects, and Commercial & Residential Buildings, augurs well to capture the potential opportunities going ahead. It is one of the few specialist in piling work in...

Kridhan Infra reported consolidated revenues of Rs.1.4bn in Q2FY16, indicating 23% de-growth YoY (due to slowdown in Singapore Construction industry which has order book exposure of ~60%) and...

Government to spend Rs 700bn on 12 major ports: The Sagarmala Project, aimed at port-led development in coastal areas and the government has lined up about Rs 700bn for its 12 major ports. Along with the experience...

Valuation: At CMP of Rs. 94, Kridhan Infra is trading at PE of 17.4x/ 11.5x/8.2x in FY16E/ FY17E/FY18E respectively. We expect revenue/earnings to grow at 20%/ 36% during FY15-18E respectively led by MoU signed with...

Bitter quarter, but on growth path; maintain BUY Kridhan Infra reported consolidated revenues of Rs.1.9bn in Q4FY15, implying 52% growth QoQ but has shown 7% decline YoY....

Kr idhan Infra Ltd. reported revenues of Rs. 1,250 mn, which shows decline of 27.5% YoY and 28.8% QoQ. This decline is mainly a transitional loss due to currency depreciat ion, as 90% of the revenues are from Singapore. However PAT...