KNR Constructions - Q4 FY21 first cut - YES Securities

- KNR Constructions reported topline growth of 39% yoy (at Rs.9.3 bn), much ahead of our estimate of Rs.7.6 bn topline.

- Operating margin remained at an elevated levels of ~19.5% (-228 bps yoy/ -24 bps qoq). This was inline with our estimates of 20% margins.

- Higher tax outgo saw PAT grew by 15% yoy to Rs.770 mn. This was lower than our estimate of Rs.872 mn.

- Order book at the end of Q4 FY21 stood at ~Rs.128 bn (Calculated as per Orders/L1 announced by the Company adjusted for Q4 execution).

- The company has declared the divided of Rs 0.25/sh

- We currently have BUY rating on the stock. We would review our estimates post Earnings Call.

Shares of KNR CONSTRUCTIONS LTD. was last trading in BSE at Rs.217.35 as compared to the previous close of Rs. 216.15. The total number of shares traded during the day was 100041 in over 1900 trades.

The stock hit an intraday high of Rs. 222.2 and intraday low of 210.6. The net turnover during the day was Rs. 21903821.

Source : Equity Bulls

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