KNR Constructions Q2 Results Review - Robust Execution, Healthy Order Book To Drive Growth: Axis Securities
The company has an order book of Rs 8,042 crore (as of Sep 30, 2022), implying revenue visibility of over two-three years.
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Axis Securities Report
KNR Constructions Ltd. reported a healthy set of Q2 FY23 numbers owning to better project execution. The company reported revenue of Rs 847 crore, up 12% YoY, Ebitda of Rs 189 crore, up 13% YoY, and adjusted profit after tax of Rs 108 crore, up 13% YoY.
It registered an Ebitda margin of 22.3% in Q2 FY23(our estimate: 18.6%) against 22.2% in Q2 FY22.
Hybrid annuity model projects in the road sector have been the major revenue contributor in this quarter. The company received a bonus claim of Rs 8 crore (inclusive of tax) for early completion of its HAM project, KNR Tirumala Infra Pvt. Ltd.
The company also realized Rs 25 crore through the selling of arbitration claims by two of its joint venture during the quarter. KNR Constructions has an order book of Rs 8,042 crore (as of Sep 30, 2022), implying revenue visibility of over two-three years.
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