KNR Constructions Q4 Review - Structural Story Intact: Prabhudas Lilladher
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Prabhudas Lilladher Report
KNR Constructions Ltd. reported a strong quarter, as the revenue (up 39% YoY) beat our and street estimates.
Currently the company is facing certain headwinds due to second wave of Covid-19, given drop in labour availability and projects operating at 60-65% efficiency levels.
Further, irrigation dues of ~Rs 5 billion from Telangana government have been delayed due to diversion of funds towards welfare expenses.
Despite these headwinds, the company continues to maintain strong liquidity position with Rs 1.2 billion net cash position, which would further improve post conclusion of monetisation deal with Cube (expected in next six months).
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