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    HomeNewsBusinessStocksBuy J. Kumar Infraprojects; target of Rs 220: HDFC Securities

    Buy J. Kumar Infraprojects; target of Rs 220: HDFC Securities

    HDFC Securities is bullish on J. Kumar Infraprojects has recommended buy rating on the stock with a target price of Rs 220 in its research report dated February 11, 2021.

    Broker Research
    February 17, 2021 / 14:12 IST
       
       
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      HDFC Securities' research report on J. Kumar Infraprojects

      J Kumar (JKIL) reported revenue/EBITDA/PAT at Rs 8.1/1.2/0.45bn, beating our estimate by 21/7/12% on better-than-expected execution recovery. However, the company disappointed on margin (14.2% vs 16% est.). YTD order inflow stood at Rs 21bn. While the order backlog is robust at 3.7x FY20 revenue, near-term execution challenges have alleviated now to a large extent.

      Outlook

      At 5.6x FY23E EPS, valuations are compelling. We maintain BUY on JKIL with an increased target price of Rs 220/sh (7x Dec-22E EPS) and revise FY21/FY22/FY23 EPS est. by 5.5x/5%/7% to account for execution recovery.

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      Broker Research
      first published: Feb 17, 2021 02:12 pm

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