KNR Constructions Q1 Review - Robust Quarter, Fair Valuation: Dolat Capital
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Dolat Capital Report
KNR Construction Ltd. posted revenue and adjusted profit after tax in line however, Ebitda margins above estimates.
KNR Construction posted 54.4%/ 51.9%/ 83.5% YoY growth in revenue/ Ebitda/adjusted profit after tax to Rs 7.4 billion/ Rs 1.4 billion/ Rs 730 million in Q1 FY22.
We broadly maintain our revenue estimate and increase our Ebitda margin estimates by 65 basis points for FY23E and factoring lower depreciation, we increase our adjusted profit after tax estimates by 13.0% for FY23E.
The company is currently working with 95% efficiency and labour at pre Covid-19 levels.
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