Shares of KNR Constructions
slipped ~2% in intraday trade on Tuesday after the company announced its Q3FY19 results. The results beat street estimates on PAT, revenue and EBITDA fronts.
Revenue grew by 3.6% yoy to Rs448.89cr against Rs433.19cr in Q3FY18, beating the estimate of Rs432cr. EBITDA for the quarter declined by 8.4% yoy to Rs90.12cr against Rs98.38cr in Q3FY18, beating the estimate of Rs77cr. Read more.
The company has a strong EPC order book of ~Rs1,832cr. The company expects strong order inflow in the next few quarters due to government’s ‘Bharatmala’ projects. We expect the company’s order book to grow by ~60% over FY18-20E on the back of rise in tendering of contracts.
KNR Constructions Ltd is currently trading at Rs196.30 down by Rs3.85 or 1.92% from its previous closing of Rs200.15 on the BSE.
The scrip opened at Rs197.25 and has touched a high and low of Rs198.50 and Rs195.05 respectively. So far 34,344 (NSE+BSE) shares were traded on the counter.