Infrastructure Developers & Operators
Infra - Construction & Contracting
from 132 today
KNR Constructions reported muted Q1FY27 performance, with revenue declining 10% YoY and adjusted EBITDA margin at 5%, impacted by delayed commencement of new HAM and mining projects and execution delays in Karnataka HAM packages. We maintain our HOLD rating with a SoTP-based target price of INR 126/share, as valuations remain demanding at 18x FY28E EPS, limiting near-term upside.
KNRC delivered another weak performance in 1QFY27, missing our estimate on execution due to a thin executable order book. We reiterate our Neutral rating on the stock with our SoTP-based TP of INR140.
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