earSharekhan's research report on KNR Constructions
Execution, margins and net profitability outperformed strongly. The company saw significant collection of outstanding receivables in Irrigation space. Management retained FY2021 revenue guidance and expects 15-20% y-o-y growth in FY2022 revenues. Order inflows of Rs. 3,000-4,000 crore expected for remainder of FY21. KNR in talks to offload three HAM projects which are expected to completed by June 2021. Balance sheet remains sturdy.
Outlook
We retain a Buy on KNR Constructions with a revised price target of Rs. 270 led by upwardly revised earnings estimates for FY2021-FY2023.
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