Sharekhan's research report on KNR Constructions
KNR Constructions Limited (KNR) reported better-than-expected standalone revenues led by a pick up in the execution of HAM projects. OPM missed a change in the revenue mix. Net earnings boosted by lower tax outgo. Management remained conservative on order inflow target of Rs. 4500 crore for FY2024 despite recent order inflows. FY2024 standalone revenue target retained. Order book at 2.4x TTM including recent wins remains healthy. It continues to explore for projects in state highways, irrigation, urban infrastructure, railways and metros.
Outlook
We retain Buy on KNR with a revised PT of Rs. 301, factoring downwardly revised estimates and considering healthy growth outlook for the sector.
For all recommendations report, click here
Disclaimer: 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
