J Kumar Infra Projects Q4 Review — Strong Execution With Stellar Margins: Yes Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

J. Kumar Infraprojects Ltd. posted strong set of numbers beating our estimates led by stellar execution in its under‐construction projects along with EBITDAM of 14.3%.

The company bagged two EPC projects worth Rs 20.3bn taking its order inflows to Rs 36.8bn for FY22. Order book stands robust at Rs 119.4bn (3.4x its trailing revenues) providing strong visibility of next 2‐3 years. Given the robust ordering pipeline management expects order inflows of Rs50bn (already bagged Rs 11bn) in FY23E.

On the back of recovery in economic activity, pick up in execution and massive bid pipeline, management guided for revenue growth of 12‐15% growth in FY23E with EBITDA margin of 14‐15% range.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime 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 BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.