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Dolat Capital Report
KNR Constructions Ltd. posted revenue in line, however, Ebitda margins and profit after tax came in above estimates.
The company posted 10.1%/ down 1.4%/19.5% YoY growth in revenue/Ebitda/ adjusted profit after tax to Rs 6.0 billion/ Rs 1.2 billion/ Rs 611 million in Q2 FY21.
We maintain our revenue estimates and slightly increase our Ebitda margin estimates by 213/49 basis points for FY21E/ FY22E factoring H1 FY21 results.
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