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.

Thematic (Sector/Industry)

<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><p><em>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.</em></p>

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

Equity Bottom-Up

<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><p><em>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.</em></p>

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

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>ONGC: We maintain our BUY recommendation on ONGC with a target price of INR 178, based on (1) increase in crude price realisation and (2) improvement in domestic gas price realisation</li><li>Q1FY23 revenue/EBITDA/APAT stood at INR 423/259/152bn, below our estimates, owing to higher other expenses, depreciation and interest cost, partially offset by higher-than-expected other income</li><li>Crude oil and gas production were broadly in line, but total crude oil sales, including JV share, came below estimates. Trent: Trent reported a stellar Q1 print</li></ul><p><em>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.</em></p>

ONGC: We maintain our BUY recommendation on ONGC with a target price of INR 178, based on (1) increase in crude price realisation and (2) improvement in domestic gas price realisationQ1FY23 revenue/EBITDA/APAT stood at INR 423/259/152bn, below our estimates, owing to higher other expenses, depreciation and interest cost, partially offset by higher-than-expected other incomeCrude oil and gas production were broadly in line, but total crude oil sales, including JV share, came below estimates. Trent: Trent reported a stellar Q1 printContent 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: ONGC, Trent, Phoenix Mills, Fine Organic Industries

<div><div><div><div><ul><li>Order book robust at Rs 9,008 Cr (as of Q4FY22 end): The company’s order book break up is as follows: 30% from the Roads-others, 45% from the roads-HAM, and balance 25% from the Irrigation segment.</li></ul><div><div><div><ul><li>Margin Outlook: KNRCL’s overall margins improved YoY driven by superior execution coupled with normalized economic activities.</li></ul><div><div><div><div><ul><li>Outlook &amp; Valuation: Over the years, KNRCL has emerged as one of the leading EPC (Engineering, Procurement &amp; Construction) players in the Road sector</li></ul></div></div></div></div></div></div></div></div></div></div></div><p><em>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.</em></p>

Order book robust at Rs 9,008 Cr (as of Q4FY22 end): The company’s order book break up is as follows: 30% from the Roads-others, 45% from the roads-HAM, and balance 25% from the Irrigation segment.Margin Outlook: KNRCL’s overall margins improved YoY driven by superior execution coupled with normalized economic activities.Outlook &amp; Valuation: Over the years, KNRCL has emerged as one of the leading EPC (Engineering, Procurement &amp; Construction) players in the Road sectorContent 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 - Better Execution; Robust Order Book Provides Healthy Revenue Visibility

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>KNRC sits on a strong order book of ~INR100b (excluding recently won projects), which provides clear revenue visibility for the next three years.</li><li>It has received appointed dates (AD) for two HAM projects in Jan’22 and financial closure (FC) in one HAM project in Apr’22, which will support execution in FY23E and FY24E.</li><li>We expect margin to stay elevated, despite inflationary pressures from higher commodity prices, as a sizable portion (~26%) of its order book consists of irrigation projects.</li></ul><p><em>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.</em></p>

KNRC sits on a strong order book of ~INR100b (excluding recently won projects), which provides clear revenue visibility for the next three years.It has received appointed dates (AD) for two HAM projects in Jan’22 and financial closure (FC) in one HAM project in Apr’22, which will support execution in FY23E and FY24E.We expect margin to stay elevated, despite inflationary pressures from higher commodity prices, as a sizable portion (~26%) of its order book consists of irrigation projects.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: Superior Execution with a Comfortable Balance Sheet

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)

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

HSIE Results Daily: ONGC, Trent, Phoenix Mills, Fine Organic Industries

Crude oil and gas production were broadly in line, but total crude oil sales, including JV share, came below estimates. Trent: Trent reported a...

HDFC Securities

KNR Constructions Ltd - Better Execution; Robust Order Book Provides Healthy Revenue Visibility

The company reported revenue of Rs 1,011 Cr, up 8% YoY, EBIDTA of Rs 208 Cr, up 14% YoY, and APAT of Rs 113 Cr, up 47% YoY.

Axis Direct

KNR Constructions: Superior Execution with a Comfortable Balance Sheet

KNRC sits on a strong order book of ~INR100b (excluding recently won projects), which provides clear revenue visibility for the next three...

Motilal Oswal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)