KNR Constructions Q4 Review - Robust Performance; Guidance Conservative: Centrum Broking
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Centrum Broking Report
KNR Constructions Ltd. reported strong earnings which beat estimates driven by strong execution.
Adjusted profit after tax grew 43.3% YoY to Rs 963 million (estimate: Rs 776 million) and reported profit after tax after prior period taxes grew 14.5% YoY to Rs 770 million.
Order backlog including new hybrid annuity model projects is robust at Rs 114 billion (4.2 times trailing twelve months revenue) and gives strong growth visibility.
Management guidance on FY22 execution and margins was cautious given the disruption caused by Covid-19 second wave and higher commodity prices.
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