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    Buy J Kumar Infraprojects, target price Rs 283: HDFC Securities

    Synopsis

    J Kumar Infraprojects Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 1853.80 Crore) operating in Infrastructure sector.

    buyiStock
    Promoters held 46.65 per cent stake in the company as of 31-Mar-2022, while FIIs owned 6.41 per cent, DIIs 10.55 per cent.
    HDFC Securities has buy call on J Kumar Infraprojects with a target price of Rs 283. The current market price of J Kumar Infraprojects is Rs 245.45. 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 1853.80 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 31-03-2022, the company reported a Standalone Total Income of Rs 1122.74 Crore, up 15.56 % from last quarter Total Income of Rs 971.57 Crore and up 12.45 % from last year same quarter Total Income of Rs 998.45 Crore. Company reported net profit after tax of Rs 74.00 Crore in latest quarter.
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    Investment Rationale
    JKIL reported strong performance, with revenue/EBITDA/APAT at 11/1.6/0.7bn. FY23 revenue is expected to grow at 12-15% (over FY22 revenue) with EBITDA margin of 14-15%. The order inflow (OI) of INR 36.9bn in FY22 took the order book (OB) to 119.4bn (~3.4x FY22 revenue). JKIL has bid for metro projects in Surat, Chennai, Mumbai, Agra, Kanpur, and Delhi. It has also submitted RFQs for the Goregoan-Mulund link road (GMLR) and has a bid pipeline of over INR 200bn. Consequently, it expects OI of INR 50bn in FY23, of which 20% orders achieved till FYTD23. JKIL expects to handover Mumbai metro line 3A and 7 and Pune elevated corridor by H1FY23. The balance sheet is robust with gross debt at INR 4.3bn. FY23 Capex guidance is at INR 1-1.2bn. It maintains BUY with a revised target price of INR 283 (7x Mar-24E EPS).

    Promoter/FII Holdings
    Promoters held 46.65 per cent stake in the company as of 31-Mar-2022, while FIIs owned 6.41 per cent, DIIs 10.55 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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