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KNR Constructions: Strong balance sheet supports growth even in subdued environment

June 17, 2020 / 01:52 PM IST
KNR Constructions: Strong balance sheet supports growth even in subdued environment

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Jitendra Kumar Gupta Moneycontrol Research Highlights - Low leverage, high return ratios and margins - Divestment of assets to help strengthen balance sheet - Strong order book to support earnings in current and next year - Lower competition, strong balance sheet to help grab more business - Stock is reasonably valued at 11 times its FY22 earnings Sharp focus on its balance sheet and working capital is now yielding dividends for KNR Constructions (CMP: Rs 216, Market Cap: Rs 3037 crore), despite the slowdown caused by Covid-19. Results at...

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