KNR Constructions Q3 Results Review - Muted Quarter; Order Inflow Must: Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.KNR Constructions Ltd. posted results below estimates. KNR Constructions reported +9.1%/ -5.6%/ -2.9% YoY in revenue/ Ebitda/adjusted profit after tax to Rs 9.1 billion/ Rs 1.5 billion/ Rs 850 million in Q3 FY24. Reported Ebitda margin down by 252 bps YoY to 16.3% primarily due to higher material cost, spreading and assortment expenses, other expenses, employee cost and sub-contract cost. We expect revenue/ adjusted profit after tax compound annual growth rate of 6.2%/ 3.8% over FY23-26E, with Ebitda margin of 18.3%/ 18.2%/ 17.5% for FY24E/ FY25E/ FY26E. We decrease EPS by 3.2% for FY24E factoring lower Ebitda margin. However, maintain earnings per share for FY25E/ FY26E. Current market price leaves limited upside. Thus, we maintain Accumulate with a SOTP-based revised target price of Rs 285 (14 times FY26E EPS and 1.2 times price/book for hybrid annuity model investment)..Click on the attachment to read the full report:.IRCON International Q3 Results Review - Good Quarter; Order Win Has Been Lukewarm: IDBI Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

KNR Constructions Q3 Results Review - Muted Quarter; Order Inflow Must: Dolat Capital

Order book of Rs 67.4 billion at 1.7 times trailing twelve months revenue

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KNR Constructions Q3 Results Review - Muted Quarter; Order Inflow Must: Dolat Capital

Order book of Rs 67.4 billion at 1.7 times trailing twelve months revenue

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