Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Research

| More

KNR Constructions - 1QFY2017 Result Update - Angel Broking

Posted On: 2016-08-18 20:05:39

KNR Constructions (KNR) reported strong set of 1QFY2017 numbers. On the top-line (standalone) front, it reported 73.9% yoy increase to Rs. 304cr (ahead of our estimate of Rs. 249cr). 48% of 1QFY2017 revenues were from (1) MaduraiRamanathapuram project (Rs. 68cr), (2) Trivandrum bypass project (Rs. 44cr) and (3) Penchalakona-Yerpedu project (Rs. 35cr). EBITDA and PAT numbers were ahead of our estimate at Rs. 44cr and Rs. 30cr, respectively (v/s our estimate of Rs. 37cr and Rs. 25cr, respectively).

KNR's order book as of now stands at ~Rs. 4,925cr, which gives strong revenue visibility for over the next 3 years.

Valuation: KNR in our view enjoys (1) strong execution track record, (2) better cost structure (reflected in better EBITDA & PAT margins vs some of its peers), (3) shorter working capital cycle, (4) low leverage (since FY2011, D/E ratio has been ~0.2x), and (5) impressive RoEs (12.1-24.9% range during FY2011-16). All these factors indicate KNR's superior earnings quality, and strengthen our view that KNR would continue to trade at premium valuations. On valuing standalone entity at 15.0x to our FY2018E EPS of Rs. 48.5, and adding value for its Kerala & Muzaffarpur BOT projects, we arrive at FY2018E sum-of-the-parts (SoTP) based price target of Rs. 802/share, implying 15% upside from current levels. Given the upside in the stock, we maintain our Buy rating on the stock.

Shares of KNR CONSTRUCTIONS LTD. was last trading in BSE at Rs.715 as compared to the previous close of Rs. 698.85. The total number of shares traded during the day was 9721 in over 808 trades.

The stock hit an intraday high of Rs. 716.3 and intraday low of 690.05. The net turnover during the day was Rs. 6870486.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.





Other Headlines:

The Pitch Report - Call Update: Bombay Burmah Trading Corporation - BUY - TP Rs.2025
Views on Wipro Limited Q2FY2018 Results: Angel Broking
IndusInd Bank Q2FY18 Result Update - Rating - HOLD - Arihant Capital Markets
Insurance: Select large players drive growth - Kotak
Views on Tata Consultancy Services Limited Q2FY2018 Results: Angel Broking
Metals & Mining (Attractive): 2QFY18 preview-good for all - Kotak
Energy: 2QFY18E preview—strong quarter across the board - Kotak
South Indian Bank (SIB IN) - Earnings update - PAT declined owing to exceptional provision - CSEC Research
The Pitch Report - Call Update: BBTC - ACCUMULATE - TP Rs.1613 - Kotak
Result Update: Cyient Ltd - ACCUMULATE - TP Rs.576 - Kotak
Result Update: TV18 Broadcast Ltd - BUY - TP Rs.50 - Kotak
Lakshmi Vilas Bank (LVB IN) - Earnings update - Provisions surged leading to steep fall in PAT - CSEC Research
Cement prices - on a weak footing - Kotak
Company Update: Engineers India Ltd - BUY - TP Rs.182 - Kotak
Company Update: Insecticides (India) Ltd - SELL - TP Rs.830 - Kotak
Logistics: Another blow to the e-way bill and thus to prospects of formalizing the sector - Kotak
Cement: 2QFY18 preview-healthy volumes, costs outweigh realizations - Kotak
Company Update: Time Technoplast Ltd - ACCUMULATE - TP Rs.216 - Kotak
Bumper profits ahead for Natco Pharma: Angel Broking
Banks : More questions than answers : New pricing regime likely to be introduced to replace MCLR/base rate - Kotak
Economy: RBI retains inflation focus - Kotak
BFSI : 2QFY18 preview: muted quarter for banks; stronger for NBFCs - Kotak
Telecom: LTE - 40% of data users, 80%+ of usage - Kotak
Energy - OMCs (BPCL | HPCL | IOCL): Some relief, but not enough - Kotak
Auto sales numbers for the month of September: Angel Broking
Technology: Accenture FY2018 guidance signals no change in demand trend - Kotak
Stock Picks - Maruti Suzuki, Federal Bank - Arihant Capital Market
Company Update: Gujarat Alkalies & Chemicals (GACL) - SELL - TP Rs.540 - Kotak
Stock Picks - Hero MotoCorp, Ultratech Cement - Arihant Capital Markets
Company Update: Maruti Suzuki India Limited (MSIL) - BUY - TP Rs.9061 - Kotak
Power: Monthly Tracker, September 2017 - Kotak
Consumer Products (Cautious): Observations: field trip to Patna - Kotak
Reliance Home Finance (RHFL) listed today and it is trading at 4.6x FY2017 book value: Angel Broking
Stocks Picks - TVS Motors, TCS & DCB Bank - Arihant Capital Markets Ltd
Result Update: AksharChem India Ltd - ACCUMULATE - TP Rs.800 - Kotak
Initiating Coverage: VIP Industries Ltd - BUY - TP Rs.325 - Kotak
Company Update: KNR Constructions Ltd - BUY - TP Rs.236 - Kotak
Top Stock Picks by Arihant Capital Market
Chhota (to) MOTA ideas - CALL UPDATE: Venky's India Ltd - BUY - TP Rs.2650 - Kotak
Gabriel India Limited (GABR IN) - Shift in strategy to accelerate the growth - Initiating Coverage - CSEC Research
Banks : Some signs of life; but still weak | Sanctions made in the private corporate sector undertaken by banks/FIs - Kotak
Petroleum minister's clarification on not interfering with auto fuels pricing is a relief
Energy - OMCs (BPCL | HPCL | IOCL): A false but worrying alarm - Kotak
Company Update: Mangalore Refinery and Petrochemicals Ltd (MRPL) - BUY - TP Rs.155 - Kotak
RIL scales uncharted highs - Jio Dhan Dhana Dhan: Angel Broking
Energy-Petroleum consumption: Weakness in industrial fuels; base affects auto fuels - Kotak
Company Update: GE Shipping Company (GESCO) - BUY - TP Rs.530 - Kotak
The Pitch: BSE Ltd - BUY - TP Rs.1170 - Kotak Securities
Cess hike breather for automobile companies, removes hangover on the stocks: Angel Broking
Demerger in CESC Ltd - Kotak PCG Research


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2017