Moneycontrol
Get App
Last Updated : Jun 06, 2019 03:46 PM IST | Source: Moneycontrol.com

Buy KNR Constructions; target of Rs 363: HDFC Securities

HDFC Securities is bullish on KNR Constructions has recommended buy rating on the stock with a target price of Rs 363 in its research report dated Jun 01, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

HDFC Securities' research report on KNR Constructions


KNR recorded Rs 1.5bn revenue from Tirumala HAM project; this resulted in strong beat vs. our estimates. KNR has guided for 10-15%growth for FY20E, which we believe is conservative. We have modeled for 26.7% FY20E YoY revenue growth. About 32% order book yet to move into execution: KNR has not included Rs 19bn of HAM orders in the backlog. Appointed Date (AD) is awaited for KNR Srirangam and Chidambaram projects. KSHIP HAM’s financial closure is in advance stages and work will start from Sep-19 onwards.


Outlook


We maintain BUY on KNR with an increased SOTP-based TP of Rs 363 (valuing core EPC business 18x FY21EPS at Rs 303/sh, Subsidiaries Rs 60/sh). KNR delivered strong Revenue/EBIDTA/APAT beat of 30/36/55%.


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.



Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!

First Published on Jun 6, 2019 03:46 pm
Sections
Follow us on