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KNR Constructions standalone revenue at ₹ 437 crore

ICICIdirect Research 14 Aug 2026 DISCLAIMER

News: KNR Constructions standalone revenue at ₹ 437 crore, was down 10% YoY, given the low executable order book. EBITDA stood at ₹65.5 crore, flat YoY, with margins contracting 530 bps YoY to 15%, possibly on revenue mix. PAT came in at ₹282 crore, partially aided by one time gain of ₹ 285.3 crore. Adj PAT was ₹ 4.7 crore vs. ₹ 5.1 crore in the base. 

View: KNR Constructions has an order book of ₹8,667 crore (excluding new order), implying a book-to-bill ratio of 4x. During Q1FY27, the company secured fresh orders worth ₹6567 crore, which has improved its revenue visibility, in our view. We note that earlier management had indicated that the existing order book provided revenue visibility of at least ~₹2,000 crore for FY27, with any upside dependent on incremental order wins, while a meaningful recovery in revenue growth and margins is likely only from FY28 onwards. Given the strong order book, execution outlook will remain key monitorable ahead

Impact: Negative

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