KNR Constructions Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6339.03 Crore) operating in Infrastructure sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 761.42 Crore, up 14.69 % from last quarter Total Income of Rs 663.89 Crore and up 24.22 % from last year same quarter Total Income of Rs 612.96 Crore. Company reported net profit after tax of Rs 91.02 Crore in latest quarter.
Investment Rationale
Factoring strong performance in 9MFY21 and robust orders in hand, it increases FY21E/FY22E/FY23E EPS by 5%/3%/11%. It increases TP to INR265 per share based on: a) 15x Mar’23E EPS to the EPC business, and b) book value of Road assets.
Promoter/FII Holdings
Promoters held 55 per cent stake in the company as of Dec 30, 2020, while FIIs held 1.5 per cent, DIIs 34.3 per cent and public and others 9.2 per cent.
