External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>KNR Constructions is one of the leading companies in the roads and highways sector having executed 6,000+ lane km of projects across 12 states in India.</li><li>The company also has an established presence in irrigation and urban water infrastructure management.</li><li>Reported 16.3% revenue CAGR over FY17-22 and has consistently delivered industry-leading operating margin of ~20% throughout past three years </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR Constructions is one of the leading companies in the roads and highways sector having executed 6,000+ lane km of projects across 12 states in India.The company also has an established presence in irrigation and urban water infrastructure management.Reported 16.3% revenue CAGR over FY17-22 and has consistently delivered industry-leading operating margin of ~20% throughout past three years Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR Constructions - Decent Show; Irrigation Receivables Key Monitorable…

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>KNR ConstructionsLtd (KNRCL)reported a healthyset ofQ2FY23numbers owning to better project execution.</li><li>The company reported revenue of Rs847Cr,up12% YoY, EBIDTA of Rs189Cr,up13% YoY, and APAT of Rs108Cr,up13% YoY.</li><li>It registered an EBITDA Margin of 22.3%in Q2FY23(our estimate: 18.6%) against 22.2% in Q2FY22.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR ConstructionsLtd (KNRCL)reported a healthyset ofQ2FY23numbers owning to better project execution.The company reported revenue of Rs847Cr,up12% YoY, EBIDTA of Rs189Cr,up13% YoY, and APAT of Rs108Cr,up13% YoY.It registered an EBITDA Margin of 22.3%in Q2FY23(our estimate: 18.6%) against 22.2% in Q2FY22.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR Constructions Ltd - Robust Execution, Healthy Order Book to Drive Growth

Thematic (Sector/Industry)

<ul><li>Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.</li><li>A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)</li><li>PoW delivered an excellent cumulative strike rate of 72% in Sep’22.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)PoW delivered an excellent cumulative strike rate of 72% in Sep’22.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.</li><li>Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.</li><li>In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infra-Road - Robust Order Book, Outlook Positive

<ul><li>KNR Constructions achieved a turnover of Rs 3,273 Cr in FY22, delivering an impressive growth of 21% YOY.</li><li>The company’s EBITDA margin for the year stood at 20.7% as against 19.8% in FY21.</li><li>Its net profit stood at Rs 382 Cr as against Rs 244 Cr in FY21, implying a robust growth of 57% YoY.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR Constructions achieved a turnover of Rs 3,273 Cr in FY22, delivering an impressive growth of 21% YOY.The company’s EBITDA margin for the year stood at 20.7% as against 19.8% in FY21.Its net profit stood at Rs 382 Cr as against Rs 244 Cr in FY21, implying a robust growth of 57% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KNR Constructions Ltd - Robust Order Book

India

KNR Constructions Limited operates an infrastructure project development company. The Company provides engineering procurement and construction services across various sectors, such as roads, bridges, flyovers, highways, and water infrastructure management.

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KNR Constructions (KNRC IN)

KNR Constructions - Decent Show; Irrigation Receivables Key Monitorable…

KNR Constructions is one of the leading companies in the roads and highways sector having executed 6,000+ lane km of projects across 12 states in...

ICICI Securities Limited

KNR Constructions Ltd - Robust Execution, Healthy Order Book to Drive Growth

KNR ConstructionsLtd (KNRCL)reported a healthyset ofQ2FY23numbers owning to better project execution. The company reported revenue of Rs847Cr,up12%...

Axis Direct

Axis Research Scorecard Report - Sep 22

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return...

Axis Direct

Infra-Road - Robust Order Book, Outlook Positive

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY...

Axis Direct

KNR Constructions Ltd - Robust Order Book

The company’s EBITDA margin for the year stood at 20.7% as against 19.8% in FY21. Its net profit stood at Rs 382 Cr as against Rs 244 Cr in FY21,...

Axis Direct

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