India · Delayed Price · Currency is INR KNR Constructions Earnings Call Transcripts
Fiscal Year 2026
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Revenue and margins declined due to project completion and higher subcontracting, but order book remains strong at INR 8,849 crore. FY27 revenue is guided at INR 2,000 crore, with margin recovery expected in FY28 as new projects ramp up.
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H1 FY26 was marked by slow order inflow and muted execution, but a strong pipeline and government focus on infrastructure are expected to drive a recovery in H2. Financials showed stable margins, with order book diversification and asset monetization in progress.
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Q1 FY 2026 saw muted revenue and order inflow due to project completions and sector-wide delays, with guidance revised to INR 2,000–2,500 crores for the year. The order book remains strong at INR 8,305 crores, with significant diversification and a major mining project set to ramp up in FY 2027.
Fiscal Year 2025
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FY25 saw strong revenue and profit growth, with a robust order book and significant progress in HAM projects. FY26 revenue is guided at INR 2,500–3,000 crores, with a large bid pipeline and ongoing asset monetization. Receivables and a project-related NHAI notice remain key risks.
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Revenue and profit grew strongly in Q3 and nine months FY25, driven by arbitration gains and robust execution, though order book visibility and receivables remain concerns. FY26 revenue is expected to decline 10–15% with EBITDA margin guidance at 15–15.5%.
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Q2 and H1 FY25 saw robust revenue and profit growth, driven by settlement income and strong execution. The order book is diversified, with a focus on roads, irrigation, and pipeline projects, and the company targets INR 6,000–8,000 crore in new orders for FY25.
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Q1 FY25 saw stable revenues and improved margins, with net profit up 20% YoY. Order book stands at INR 4,922 crore, with a target of INR 6,000-7,000 crore in new inflows by FY25. Receivables from Telangana and project delays pose risks.