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Nirmal Bang Report
Overall KNR Construction Ltd.'s revenue/Ebitda/profit after tax grew by (-)5.3%, 10.8%, and 21.4% YoY to Rs 8.8 billion/Rs 1.9 billion/Rs 1.3 billion (our estimate 9.8 billion/Rs 1.6 billion/Rs 926 million). The company received an arbitration claim of Rs 609 million from its joint venture partner Patel KNR, recognized under “revenue from operations.”
In addition, a cost of R s 440 million was incurred under “other expenses,” and tax on the total arbitration claim stood at Rs 142 million, which was part of “current taxes.”
Progress in projects under execution: Magadi to Somwarpet – 84%; Oddanchatram to Madathukulam – 100% (the company has applied for the final COD of the project); Ramanattukara to Valanchery -77%; Valanchery to Kappirikkad – 82% and Chittor to Thatchur – 63%.
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