External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Low order book: The company’s order book stood at Rs 5,052 Cr as of 31st Mar’25, providing revenue visibility for the next 12-18 months.</li><li>In Apr’25, the company also received AD for two of its HAM projects worth Rs 1,200 Cr.</li><li>The lower order book poses a risk to revenue growth. </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.

Low order book: The company’s order book stood at Rs 5,052 Cr as of 31st Mar’25, providing revenue visibility for the next 12-18 months.In Apr’25, the company also received AD for two of its HAM projects worth Rs 1,200 Cr.The lower order book poses a risk to revenue growth. 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 - New Order Holds Key; Retain HOLD

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

<ul><li>In 3QFY25, KNR Constructions (KNRC) received certain arbitration claims.</li><li>For a like-to-like comparison, we have adjusted the same in revenue, other income, other expenses, and total taxes for 3QFY25 and have shown them as exceptional items.</li><li>KNRC’s 3Q revenue declined 22% YoY to ~INR7.1b (20% below our estimate).</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.

In 3QFY25, KNR Constructions (KNRC) received certain arbitration claims.For a like-to-like comparison, we have adjusted the same in revenue, other income, other expenses, and total taxes for 3QFY25 and have shown them as exceptional items.KNRC’s 3Q revenue declined 22% YoY to ~INR7.1b (20% below our estimate).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 - Miss on Execution; Focusing on New Order Inflows from the Non-Road Segments

<ul><li>Order book: The company’s order book stands at Rs 4,922 Cr as of 30th June 2024, providing revenue visibility for the next 1.5 years.</li><li>This does not include two projects worth Rs 1,200 Cr, where the AD (appointed date) is pending, which would take the total order book to Rs 6,505 Cr.</li><li>With a strong bidding pipeline and an improved bidding strategy, the management expects an additional order inflow of Rs 6,000-7,000 Cr from road and other projects in FY25, ensuring a healthy order book moving forward</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.

Order book: The company’s order book stands at Rs 4,922 Cr as of 30th June 2024, providing revenue visibility for the next 1.5 years.This does not include two projects worth Rs 1,200 Cr, where the AD (appointed date) is pending, which would take the total order book to Rs 6,505 Cr.With a strong bidding pipeline and an improved bidding strategy, the management expects an additional order inflow of Rs 6,000-7,000 Cr from road and other projects in FY25, ensuring a healthy order book moving forwardContent 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 - New Order Inflow Holds Key; Retain HOLD

Thematic (Sector/Industry)

<ul><li>In Q3FY25, the road construction companies under coverage are anticipated to report 3% degrowth YoY in revenue due to a lower executable orderbook in KNR Constructions Ltd and PNC Infratech Ltd.</li><li>EBITDA is expected to decrease by 4%, and APAT is projected to be 10.7% lower on YoY basis.</li><li>EBITDA margins are estimated at 14.2%, compared to 14.6% in the same period last year. </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.

In Q3FY25, the road construction companies under coverage are anticipated to report 3% degrowth YoY in revenue due to a lower executable orderbook in KNR Constructions Ltd and PNC Infratech Ltd.EBITDA is expected to decrease by 4%, and APAT is projected to be 10.7% lower on YoY basis.EBITDA margins are estimated at 14.2%, compared to 14.6% in the same period last year. 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.

Q3FY25 Earnings Preview - INFRA-ROAD & OTHERS

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by higher gross margin (+330 bps YoY) and cost controls (staff/SG&amp;A +10%/+1%YoY)</li><li>ALKEM guidance (1) lowered overall revenue growth to mid-single digit in FY25 vs ~10% earlier</li><li>(2) India business to see growth at par with the IPM growth of 8-9% in FY25 as it expects strong growth H2FY25 (~6% YoY in H1)</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.

Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by higher gross margin (+330 bps YoY) and cost controls (staff/SG&amp;A +10%/+1%YoY)ALKEM guidance (1) lowered overall revenue growth to mid-single digit in FY25 vs ~10% earlier(2) India business to see growth at par with the IPM growth of 8-9% in FY25 as it expects strong growth H2FY25 (~6% YoY in H1)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.

HSIE Results Daily: Alkem Laboratories, Galaxy Surfactants, KNR Constructions

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

KNR Constructions (KNRC IN)

KNR Constructions Ltd - New Order Holds Key; Retain HOLD

Low order book: The company’s order book stood at Rs 5,052 Cr as of 31st Mar’25, providing revenue visibility for the next 12-18 months.

Axis Direct

KNR Constructions - Miss on Execution; Focusing on New Order Inflows from the Non-Road Segments

For a like-to-like comparison, we have adjusted the same in revenue, other income, other expenses, and total taxes for 3QFY25 and have shown them...

Motilal Oswal

KNR Constructions Ltd - New Order Inflow Holds Key; Retain HOLD

Order book: The company’s order book stands at Rs 4,922 Cr as of 30th June 2024, providing revenue visibility for the next 1.5 years.

Axis Direct

Q3FY25 Earnings Preview - INFRA-ROAD & OTHERS

In Q3FY25, the road construction companies under coverage are anticipated to report 3% degrowth YoY in revenue due to a lower executable orderbook...

Axis Direct

HSIE Results Daily: Alkem Laboratories, Galaxy Surfactants, KNR Constructions

Alkem Laboratories: EBITDA (+1% YoY) below consensus estimates due to 1% YoY sales decline (+6% YoY India, -7% QoQ in the US), which was offset by...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)