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KNR Constructions reports strong set of numbers

News: KNR Constructions reported strong set of numbers during Q2 FY22 wherein standalone revenue improved 25.7% YoY to Rs.755.6 crore. EBITDA margin stood at an elevated level of 22.2% (up 154 bps YoY). Effectively, EBITDA at Rs.167.5 crore, was up 35.1% YoY. Strong operating performance coupled with benign interest and depreciation expenses translated into healthy 91.1% YoY growth (to Rs.95.2 crore) in PAT.

Views: We currently have a positive outlook on KNR Constructions considering a) strong execution, b) elevated level of margins, c) best in class working capital cycle, d) monetization of BOT/HAM assets, e) healthy balance sheet, and f) strong return ratios.