Buy J. Kumar Infraprojects; target of Rs 319: HDFC Securities

HDFC Securities is bullish on J. Kumar Infraprojects has recommended buy rating on the stock with a target price of Rs 319 in its research report dated February 16, 2017.

February 22, 2017 / 16:54 IST

26 Aug, 2025 12:21

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HDFC Securities' research report onJ. Kumar Infraprojects

JKIL’s 3QFY17 APAT of Rs 268mn was 9.1% ahead of our estimate, led by 21.1% YoY revenue growth (4% ahead of our estimates).The balance sheet remains stable, with net debt at Rs 4.7bn and net D/E stood at 0.34x vs Rs 4.8bn and 0.36x during 2QFY17. Debtors have increased by Rs 1.2bn on account of the Metro project (Rs 1,120mn) and the same have lessened in 4QFY17E.

Outlook

JKIL has maintained FY17/FY18E revenue guidance of Rs 16/20bn. We have cut our FY17-18E EPS estimates by 4-11% to factor in delay in orders’ execution. Maintain BUY with TP to Rs 319/sh (15x FY19E EPS).

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first published: Feb 22, 2017 04:54 pm

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