J. Kumar Infraprojects Ltd’s share price soared by over 14% to a record high during intraday trades on Friday. The stock hit an all-time high of ₹757 on the NSE, up from its previous close of ₹663.45.
J. Kumar Infraprojects has delivered remarkable returns, with its share price climbing nearly 190% over the past year, making it a multibagger stock for investors.
The company reported a robust performance in the March quarter, with net profit rising 35% year-on-year to ₹99.67 crore. Strong project execution led to total revenue of ₹1433 crore, up 26% YoY. EBITDA grew 27% YoY to ₹203 crore, and EBITDA margins improved to 14.3% in Q4FY24 from 14.1% in the same quarter last year. Analysts at Axis Securities noted that the reported margins exceeded their estimates of 14.4%.
Order Book
Analysts highlighted J. Kumar Infraprojects’ strong order book, indicating solid revenue visibility. The order book stood at ₹21,011 crore at the end of the quarter. Approximately 39% of the total order book comes from elevated corridors and flyovers, 24% from roads and road tunnels, 15% from metro elevated projects, 12% from metro underground projects, 6% from civil works, and 5% from water projects.
Geographically, 65% of orders are from Maharashtra, 19% from Tamil Nadu, 10% from the National Capital Region (NCR), 3% from Gujarat, 3% from Uttar Pradesh, and 1% from Karnataka.
Positive Analyst Outlook
Analysts at Axis Securities maintain a positive outlook on J. Kumar Infraprojects, noting its established position as an Engineering Procurement and Construction (EPC) contractor. They expect the company to benefit from a healthy order book, strong execution capabilities, and a solid financial position.
They project the company to achieve a compound annual growth rate (CAGR) of 17% in revenue, 19% in EBITDA, and 22% in net profit over FY24-FY26. This growth is supported by a diversified order book, a healthy bidding pipeline, new order inflows, emerging opportunities in construction, and strong execution skills.
The company has guided for 15%-16% revenue growth in FY25 and an EBITDA margin of 14%-15%.
Axis Securities maintains a “Buy” rating, valuing the company’s business at 13 times FY26 estimated earnings per share (EPS), with a target price of ₹845 per share. This implies a potential upside of about 12.5% from the current trading level of ₹742.
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