KNR Constructions declines ~2% post Q3 results

The company's revenue grew 3.6% yoy to Rs448.89cr against Rs433.19cr in Q3FY18, beating the estimates of Rs432cr.

Feb 12, 2019 08:02 IST India Infoline News Service

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. 

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