Add J Kumar Infraprojects, target price Rs 364: HDFC Securities

HDFC Securities has add call on J Kumar Infraprojects with a target price of Rs 364. The current market price of J Kumar Infraprojects is Rs 323.95. Time period given by analyst is one year when J Kumar Infraprojects Ltd. price can reach defined target.

J Kumar Infraprojects Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 2481.83 Crore) operating in Infrastructure sector. J Kumar Infraprojects Ltd. key Products/Revenue Segments include Contract Revenue, Ready Mix Concrete, Other Sales and Other Services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 999.49 Crore, down -10.98 % from last quarter Total Income of Rs 1122.74 Crore and up 46.94 % from last year same quarter Total Income of Rs 680.22 Crore. Company reported net profit after tax of Rs 61.91 Crore in latest quarter.

Investment Rationale
To factor in outperformance on execution, order inflow and balance sheet, the brokerage increase valuation multiple from 8x to 9x. It maintains ADD, with a revised target price of INR 364 (9x Mar-24E EPS).

Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 30-Jun-2022, while FIIs owned 8.44 per cent, DIIs 13.24 per cent.