Anand Rathi's research report on KNR Construction
With monetisation proceeds from its Walayar-Vadakancherry BOT-toll, KNR’s balance sheet is at its strongest in many years. It could have been sturdier were it not for the protracted receivables cycle for Telengana irrigation orders. With these payments already started to flow in and the swifter-than-expected return of execution efficiency, KNR appears set to continue its industry-leading performance.
On its sturdier balance sheet, ample assurance and proven execution capabilities, we raise our rating to a Buy, with a TP of Rs320 (from Rs293).
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