KNR Construction - Bonus Issue Update: IDBI Capital
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IDBI Capital Report
KNR Construction Ltd. board has recommended one bonus share for every one equity share. Bonus share will be issued by way of capitalization of securities premium reserve.
We see bonus issuance as a neutral for the company’s business and net asset, but will aid in increasing the stock liquidity in exchanges.
As on H1 FY21, company order book stands at Rs 86 billion (equals to four times trailing twelve months revenue).
The company labor availability has reached 80% plus and it has guided FY21E turnover to increase by 5-7% YoY and Ebitda margin at 17-18%.
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