Shares of KNR Constructions, a top engineering, procurement, and construction (EPC) services company, surged 10.6% today, hitting a new 52-week high of ₹309.80 per share. This rise follows strong performance in the March-ending quarter and the full fiscal year (FY24). The stock has climbed 23% in the past two months.
Highlights:
- KNR Constructions reported a consolidated profit after tax of ₹341 crore for Q4FY24, a 140% increase from ₹141 crore in Q4FY23 and a 151% rise from the previous quarter’s ₹135 crore.
- Revenue for Q4FY24 was ₹1,414 crore, up from ₹1,245 crore in Q4FY23. Annual revenue grew to ₹4,429 crore, a 9% increase from ₹4,062 crore in FY23.
- The fiscal year net profit reached a record ₹752 crore, a 71% rise from ₹439 crore in FY23.
Key Projects:
- In March, the company received a ₹1,163 crore award for water supply and sewerage projects under AMRUT 2.0 in Nalgonda and Khammam.
- As of March 31, 2024, KNR’s order book was valued at ₹5,304.8 crore. Recent orders include a ₹575 crore and a ₹625 crore project for road construction in Karnataka, bringing the total order book to ₹6,504.8 crore.
Segment Breakdown:
- 50% of the order book is for roads (HAM), 18% for other roads, 17% for irrigation, and the rest for pipeline projects.
Future Outlook:
- The government plans to build 23 new national highways by 2025, with private sector contributions expected to be significant.
- Expansion of national highways is set to reach 16,000 km in 2023–24, progressing at 45 km per day.
- The government also aims to provide piped water to rural households, with a capital expenditure target of 12.6 trillion rupees for water infrastructure.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
ADVERTISEMENT
ADVERTISEMENT
