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KNRCON Share Price Target

KNR Constructions Ltd.
Sector: Construction
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KNRCON Share Price *
226 -0.05 (-0.02%)
* (quote may be delayed)
KNRCON Share Price Forecast - Consensus
No. of reports in last year
19
No. of analysts
9
Average Consensus Forecast
308.53
Consensus Potential
25.66%

KNRCON Share Price Target - Broker Reports - 2019

Kotak Securities
27-Nov-19
Price @ Call: 237
Target: 305
ADD
KNR has track record of generating operating cash flows which will help it in meeting capital for future growth. We believe that strong cash flows, deal with Cube Highways and monetization of BOT assets will help the company in meeting upfront equity commitment in the balance two HAM projects. Further, the company has track record of beating its revenue guidance and margin guidance, and we believe that the trend will continue in FY20/FY21. We have maintained our estimates for FY20E/21E. The EPC business (adjusted for BOT/HAM value Rs 47/share) is available at a PE of 11x/8.8x based on FY20E/FY21E EPS of Rs 17.1/21.5, respectively. We maintain our BUY rating on the stock with SOTP based target price of Rs 305.
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Geojit Financial Services
21-Nov-19
Price @ Call: 265
Target: 295
BUY
Going forward, execution to pick up as projects are getting financial closure and appointed date. While healthy balance sheet, strong execution capability with better operational margin to support valuation. We value standalone business at a P/E of 13x FY21E EPS and BOT/HAM projects at 1xP/B to arrive at SOTP target price Rs295 & revise our rating to Buy.
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ICICIdirect.com
26-Sep-19
Price @ Call: 233.5
Target: 300
BUY

Dolat Capital
20-Sep-19
Price @ Call: 224.85
Target: 369
BUY
Though stock has fallen ~5% post our Q1FY20 update note, considering pick up in execution from H2FY20E, healthy return ratios, a well-managed balance sheet, comfortable working capital, low D:E, and quality management, we maintain BUY with a SOTP-based TP to Rs 369.
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Karvy Stock Broking
21-Aug-19
Price @ Call: 243.47
Target: 290
BUY
At CMP of Rs. 245, KNR Construction is trading at 12.7x to FY21E standalone EPS. Considering the order book and execution rates, we value the EPC businessat 12.5x to its FY21E EPS to arrive at the value of Rs. 240 per share. We also value the BOT assets at 1x BV & HAM opportunity at 1x BV of the equity investment andarriving at a value of Rs. 290.
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HDFC Securities
19-Aug-19
Price @ Call: 234.85
Target: 375
BUY
We maintain BUY on KNR with an increased SOTP-based TP of Rs 375/sh (valuing core EPC business 18x FY21EPS at Rs 315/sh, Subsidiaries Rs 60/sh) vs. Rs 363/sh earlier. KNR delivered Revenue/EBIDTA/APAT beat of 11/(2)/5%.
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Kotak Securities
19-Aug-19
Price @ Call: 234.85
Target: 300
BUY
The company expects higher growth in FY21E. H1FY20 is expected to be slower largely on account of delay in appointed date in NHAI HAM projects, which the company expects to receive in coming quarters. We have revised our EPS estimates based on Q1FY20 execution and tax rates. The EPC business (adjusted for BOT/HAM value Rs 48/share) is available at a PE of 11.4x/9.2x based on FY20E/FY21E revised EPS of Rs 16.2/19.4 (Vs 18.1/Rs 20.8 earlier), respectively. We upgrade our rating on the stock to BUY (from ADD earlier), post correction in the share price with revised SOTP based target price of Rs 300 (Vs Rs 312 earlier).
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Dolat Capital
19-Aug-19
Price @ Call: 234.85
Target: 369
BUY
EBITDA margins are on the higher side led by lower sub contraction cost and various irrigation projects are on the verge of completion. The reported PAT down 35.5% YoY to 477 mn (31.3% below estimates), due to a muted operating performance coupled with higher depreciation, higher finance cost, lower other income and higher tax rate of 19.0% vs. 12.3% (Q1FY19).
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YES Securities
19-Aug-19
Price @ Call: 234.85
Target: 293
BUY
The Company is targeting order inflow to the tune of ~Rs.15 bn during the remaining period of FY20. With projects coming under-execution, we expect company to clock ~17% yoy topline CAGR during FY19-21E. Earnings growth is likely remain healthy backed by high margin order book in hand. Also, Share Purchase Agreement (SPA) with Cube Highways to sell its entire stake in 4 HAM projects in a phased manner will allow KNR to focus on its core expertise of EPC. The stock is currently trading at 13.9x FY21E P/E. With recent correction in stock price, we upgrade the stock to a BUY for target price of Rs.293 (based on SOTP valuation).
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Kotak Securities
12-Jun-19
Price @ Call: 281
Target: 312
ADD
KNR has track record of generating positive operating cash flows which would help it in meeting capital for future growth. We have maintained our estimates for FY20E and FY21E. The EPC business (adjusted for BOT/HAM value Rs 42/share) is available at a PE of 13.2x/11.5x based on FY20E/FY21E EPS of Rs 18.1/Rs 20.8, respectively. We maintain ADD on the stock with SOTP based target price of Rs 312, valuing standalone business at 13xFY21E EPS.
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Motilal Oswal
12-Jun-19
Price @ Call: 287.6
Target: 335
BUY
Our preference for KNRC stems from its robust execution track record, driven by backward integration, strong balance sheet with net debt-equity of -0.1x, and consistent operating margins. We value the company on an SOTP basis: INR290/share for the standalone EPC business (15x FY21E EPS of INR18.5) and INR45/share for investments in BOT projects and land parcels (1x FY21E BV). Maintain Buy with a target price of INR335.
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Geojit Financial Services
6-Jun-19
Price @ Call: 288.9
Target: 324
ACCUMULATE
Going forward, execution to pick up as projects are getting financial closure and appointed date. While healthy balance sheet, strong execution capability with better operational margin to support valuation. We value standalone business at a P/E of 15x FY21E EPS and BOT/HAM projects at 1xP/B to arrive at SOTP target price Rs324 & revise our rating to Accumulate.
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Kotak Securities
3-Jun-19
Price @ Call: 284.83
Target: 312
ADD
We have upgraded our EPS estimates for FY20E and FY21E by 7-10% based on strong pace of execution and robust order book and pipeline. The EPC business (adjusted for BOT/HAM value Rs 42/share) is available at a PE of 13.1x/11.5x based on FY20E/FY21E revised EPS of Rs 18.1/Rs 20.8, respectively. We maintain ADD on the stock with revised SOTP based target price of Rs 312 (Vs Rs 282 earlier), as we roll forward our valuations to FY21E.
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Reliance Securities
3-Jun-19
Price @ Call: 284.83
Target: 315
BUY
We maintain our positive view on KNRC mainly owing to strong balance sheet (0.2x of net D/E), the best working capital cycle and sound execution credentials. Going forward, we expect KNRC’s revenue to clock 18% CAGR through FY19-21, while PAT is expected to witness 1% negative CAGR mainly led by higher tax rate. Rolling over our valuations to FY21E, we maintain our BUY recommendation on the stock with a revised SOTP-based Target Price of Rs315.
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Kotak Securities
22-Mar-19
Price @ Call: 270
Target: 282
ADD
The company management had guided for over Rs18bn revenue in FY19E and Rs 23-24 bn revenue in FY20E with EBITDA margins of 14-15%. We have upgraded our EPS estimates for FY19E based on strong execution in old orders and company’s confidence of exceeding its guidance. The EPC business (adjusted for Rs 35 per share revised value of BOT) is available at a PE of 15.4x/14.2/12.1x based on FY19E/FY20E/FY21E revised EPS of Rs 15.2/16.5/19.4 per share, respectively. We downgrade our rating on the stock to Add (Vs Buy earlier) with revised SOTP based target price of Rs 282 (Vs Rs 239 earlier), as we see limited upside over our revised target price.
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Dolat Capital
15-Feb-19
Price @ Call: 205
Target: 250
BUY

HDFC Securities
14-Feb-19
Price @ Call: 204.1
Target: 337
BUY

Motilal Oswal
13-Feb-19
Price @ Call: 201.25
Target: 260
BUY

Kotak Securities
13-Feb-19
Price @ Call: 204.11
Target: 239
BUY

KNRCON Share Price Target - Broker Reports - 2018

Geojit Financial Services
21-Nov-18
Price @ Call: 191
Target: 180
REDUCE

AnandRathi
16-Nov-18
Price @ Call: 188.97
Target: 269
BUY

Dolat Capital
16-Nov-18
Price @ Call: 188.97
Target: 369
BUY

Dolat Capital
11-Sep-18
Price @ Call: 206.54
Target: 418
BUY

AnandRathi
16-Aug-18
Price @ Call: 228.15
Target: 298
BUY

Motilal Oswal
14-Aug-18
Price @ Call: 229.7
Target: 315
BUY

Kotak Securities
14-Aug-18
Price @ Call: 228.44
Target: 283
BUY

HDFC Securities
13-Aug-18
Price @ Call: 231
Target: 392
BUY

Motilal Oswal
3-Aug-18
Price @ Call: 226
Target: 320
BUY

Motilal Oswal
1-Jun-18
Price @ Call: 297.95
Target: 375
BUY

Kotak Securities
1-Jun-18
Price @ Call: 285.8
Target: 346
BUY

HDFC Securities
31-May-18
Price @ Call: 297.28
Target: 364
BUY

Dolat Capital
26-Apr-18
Price @ Call: 314.7
Target: 403
BUY

Kotak Securities
25-Apr-18
Price @ Call: 323.3
Target: 348
ACCUMULATE

Kotak Securities
8-Mar-18
Price @ Call: 292
Target: 348
BUY

Motilal Oswal
27-Feb-18
Price @ Call: 303.95
Target: 375
BUY

Geojit Financial Services
26-Feb-18
Price @ Call: 294.9
Target: 329
ACCUMULATE

Reliance Securities
20-Feb-18
Price @ Call: 320
Target: 360
BUY

Edelweiss
16-Feb-18
Price @ Call: 325
Target: 385
BUY

Kotak Securities
16-Feb-18
Price @ Call: 319.82
Target: 348
ACCUMULATE

KNRCON Share Price Target - Broker Reports - 2017

Motilal Oswal
15-Dec-17
Price @ Call: 269.01
Target: 320
BUY

Kotak Securities
29-Nov-17
Price @ Call: 279.85
Target: 322
BUY

Kotak Securities
24-Nov-17
Price @ Call: 275.75
Target: 306
BUY

Geojit Financial Services
24-Nov-17
Price @ Call: 275.75
Target: 302
ACCUMULATE

Geojit Financial Services
17-Oct-17
Price @ Call: 212.5
Target: 242
BUY

Kotak Securities
19-Sep-17
Price @ Call: 204.4
Target: 236
BUY

Kotak Securities
18-Aug-17
Price @ Call: 220.6
Target: 236
ACCUMULATE

Geojit Financial Services
18-Aug-17
Price @ Call: 220.6
Target: 242
ACCUMULATE

AnandRathi
2-Jun-17
Price @ Call: 210.85
Target: 243
BUY

Geojit Financial Services
2-Jun-17
Price @ Call: 208
Target: 243
BUY

Geojit Financial Services
16-Feb-17
Price @ Call: 177
Target: 194
ACCUMULATE

Edelweiss
14-Feb-17
Price @ Call: 173
Target: 201
BUY

KNRCON Share Price Target - Broker Reports - 2016

Geojit Financial Services
17-Nov-16
Price @ Call: 147.4
Target: 164.4
ACCUMULATE

Geojit Financial Services
20-Sep-16
Price @ Call: 140
Target: 151
HOLD

Geojit Financial Services
23-Aug-16
Price @ Call: 139.4
Target: 151
HOLD

Angel Broking
18-Aug-16
Price @ Call: 139.8
Target: 160.4
BUY

Reliance Securities
8-Aug-16
Price @ Call: 119.4
Target: 150
BUY

Geojit Financial Services
18-Jul-16
Price @ Call: 114.21
Target: 128.4
ACCUMULATE

Geojit Financial Services
6-Jun-16
Price @ Call: 114.21
Target: 134.4
ACCUMULATE

Karvy Stock Broking
1-Jun-16
Price @ Call: 111
Target: 148
BUY

Edelweiss
31-May-16
Price @ Call: 108
Target: 140
BUY

  • KNRCON - Share Price Target Potential

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    BrokerageTargetPotential
    Kotak Securities30525.89%
    Geojit Financial Services29523.37%
    ICICIdirect.com30024.65%
    Dolat Capital36938.74%
    Karvy Stock Broking29022.05%