Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Sep - Notice of 31st Annual General Meeting published in Financial Express and Nava Telangana
Source: Bse
KNR Constructions Limited (KNRCON)
Micro CapInfra stocks · Micro cap · NSE
KNR Constructions Limited is an Indian infrastructure development company with a diversified order book across roads, railways, urban mobility, irrigation, pipelines, and mining. The company focuses on project execution and strategic diversification into new growth areas while maintaining discipline in project selection.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result13 Aug, 06:01 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.4 (n=87)
Technical timing lens
Trend score and candlestick chart
25Bearishfull bear SMA stack · SMA20 -5.6% / mo · MACD − · near 52W low · sector -2.7pp vs Nifty 500 (3M)
Stock trend: 18
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -5.6%
Infra FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
KNRCOND candles · FIT view-5.4%Latest close ₹111.51 on 2026-10-19
Bar
+0.0%
RSI
38
MACD hist
-0.12
52W pos
3%
2026-10-19O ₹111.48H ₹112.90L ₹110.50C ₹111.51Vol 4.7L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KNRCONNifty InfraNifty 500
- KNRCON
- -10.0%
- Nifty 500
- -5.6%
- Nifty Infra
- -8.2%
- Vs Nifty 500
- -4.5 pp
Chart stats
19 Oct 2026- From 52W high
- -42.6%
- 52W range position
- 3%
- ATR (14)
- 3.4%
- Volume vs 20D
- 0.47x
- Avg traded value
- ₹10.1 Cr
- 20D price channel
- ₹110 - ₹127
₹194.4
₹108.7 - ₹194.4
₹3.8
Latest completed session
20-session average
29.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · WATCHLIST44
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -4.1% · PAT -34.1% YoY
Technical
Bearish25
Price trend and sector-relative-strength timing.
Valuation
Legacy model+27.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence54
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -4% YoY · PAT -34% YoY · margin compression
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹588 Cr | -4.1% | -15.5% |
| EBITDA | ₹96 Cr | -47.5% | -43.2% |
| Operating margin | 16.0% | -1400 bps | -800 bps |
| PAT | ₹81 Cr | -34.1% | -23.6% |
| PAT margin | 13.8% | -629 bps | -145 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 9.35
- P/B
- 0.64
- EV/EBITDA
- 8.29
- Market Cap
- 3194.00Cr
Profitability
- ROE
- 8.70%
- ROCE
- 10.40%
- ROA
- 4.85%
- Dividend Y
- 0.22%
Growth (CAGR)
- Revenue 5Y
- -1.00%
- EPS 5Y
- 4.00%
- Revenue 3Y
- -13.00%
- EPS 3Y
- -20.23%
Balance Sheet
- Debt/Equity
- 0.49
- Interest Coverage
- 2.89×
- Altman Z
- 2.26
- Book Value
- 177.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- -149.00 Cr
- EPS TTM
- 14.03
Shareholding
- Promoter Hold
- 48.81%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 2,673-0.9% vs prev
Net Profit
₹ CrLatest: 437-56.4% vs prev
Return on Equity
%Latest: 780+3772.8% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 38.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.9% over last month) — short-term momentum negative.
- RSI(14) at 38 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
21
RS percentile
Stage 4 Downtrend
1M return
-10.6%
3M return
-10.0%
6M return
-9.8%
1Y return
-40.9%
RS 1D
0
RS 20D
-2
Sector rank
#16
Industry rank
-
Stage evidence
- Price is 10.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.2%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 58.01+1.06%
RS vs Nifty 50058
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · WATCHLISTValuation25/30
Growth7/25
Quality0/20
Balance Sheet7/15
Cash Flow3/10
Piotroski
4/9 (+1)
Penalties
1
Raw sum
44
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
44/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 27.2%.
- Valuation contributes 25/30 to the score.
- Balance sheet contributes 7/15 to the score.
Main drags
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Growth is weaker at 7/25; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
9.3
PB
0.6
EV/EBITDA
8.3
ROE
8.7%
ROCE
10.4%
FCF Yield
—
Debt/Equity
0.5
MoS
+27.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
44
Previous: 45 (-1)
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+27.2%
Previous: +27.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
44
44
44
44
44
44
44
44
44
45
45
45
Factor attribution
Valuation
25-1
was 26
Modelled fair value
Graham Number
₹236.38
+52.8% MoS
Growth-justified P/E
10.9
Growth-justified Value
₹153.21
+27.2% MoS
PEG
2.34
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DBREALTY
Micro
Valor Estate Limited
Real Estate
match 160
31
—
-1.3%
-801%
OVERVALUED
SUNTECK
Micro
Sunteck Realty Limited
Real Estate
match 158
56
18.9
5.8%
+45%
FAIR VALUE
PSPPROJECT
Small
PSP Projects Limited
Real Estate
match 157
21
41.3
4.5%
-837%
OVERVALUED
ASHIANA
Small
Ashiana Housing Limited
Real Estate
match 157
55
32.8
13.8%
+7%
FAIR VALUE
MARATHON
Small
Marathon Nextgen Realty Limited
Real Estate
match 156
64
13.2
4.7%
+60%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-03T00:40:25.622Z
Management commentary snapshot
Q1 FY27 consolidated revenue at INR587.9 cr, with reported EBITDA margin of 16.4%. However, excluding a one-off cash surplus of INR46 cr, the adjusted EBITDA margin was 5.5%, indicating underlying operational weakness.
Q1 FY27 results show significant margin pressure ex-one-off, and working capital days and net debt to equity have increased. While the order book is robust and management projects strong H2 FY27 and FY28 growth, execution ramp-up and recovery of large receivables are critical to validate the outlook and alleviate balance sheet stress.
Current business mix
Order Book by Sector (including new projects)
Latest issuer-disclosed distribution across 4 reported categories.
Road Sector38.0%
Irrigation Project11.0%
Pipeline Project6.0%
Mining Project45.0%
Growth engines
Diversification into Railways & Urban Mobility
Actively evaluating railway and metro projects, seeing healthy activity and strong government focus on capacity expansion.
Mining Sector Entry
Recently won a coal mining project worth INR3,361 crores, making mining 45% of the total order book.
New HAM Project Execution
Two new HAM projects (Chennai ECR and Telangana NHAI) are expected to start in Q3 FY27.
Capacity and execution
Kusmunda Coal Mining Project
Project worth INR3,361 crores (excluding GST) to be executed over eight years, expected to start in September.
New HAM Projects
Chennai ECR and Telangana NHAI HAM projects are expected to receive Appointed Dates in Q3 FY27.
Mining Capex Plan
Planning INR350-400 crores capex for FY27, primarily for mining, with INR400-450 crores for Kusmunda this year.
Tailwinds
Strong Government Spending in Road Sector
Union budget allocated INR3.1 lakh crores to MoRTH for FY27, an 8% increase in road sector capex outlay.
Healthy Railway Project Pipeline
Record INR2.93 lakh crores capital expenditure allocated to Indian Railways for FY27, creating a healthy project pipeline.
NHAI Project Awarding Plan
NHAI outlined a revised FY27 plan to award 54 highway and expressway projects covering 2,444 km worth INR1.8 lakh crores.
Headwinds
Subdued Project Awarding
Road sector project awarding remained subdued in initial FY27, following softness witnessed through FY26.
Delays in Older Mining Project
Older Banhardih mining project requires 8-10 more months to start due to pending Stage 2 forest clearance.
Rainy Season Impact on Project Start
Kusmunda mining project start is challenged by non-stop rains, delaying the appointed date and haul road preparation.
Risk radar
Working Capital and Debt Increase
Working capital days increased to 133 from 78, and consolidated net debt to equity rose to 0.9 from 0.49 QoQ.
Telangana Receivables Recovery
INR1,300 crores outstanding from Telangana Package 4, requiring continuous follow-up for installment payments.
Execution Delays in HAM Projects
Mysore to Kushalnagara HAM projects faced delays due to land acquisition and public obstruction issues, now resolved.
Battery Energy Storage System Bidding
Initial bids for battery storage systems 'went very bad' due to unhealthy pricing and external factors like increasing dollar price.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Q1 results for infrastructure companies are often seasonal, making year-on-year comparisons relevant. However, sequential momentum (QoQ) is crucial for tracking project execution ramp-up, especially with new HAM and mining projects expected to start in Q3 FY27.
Sector KPIs management disclosed
Order Book (as of June 30, 2026, incl. new projects)
Total order book stands at INR15,234 crores.
Order Book Execution Cover
Current order book executable over 3 to 3.5 years, excluding mining projects. Mining projects are 5 to 8 years.
Q1 FY27 Consolidated Revenue
Revenue for the quarter stood at INR587.9 crores.
Q1 FY27 Consolidated EBITDA Margin (Adjusted)
UNDER_STRESSReported EBITDA margin was 16.4%. Excluding a INR46 crores net one-off cash surplus, the adjusted EBITDA margin was approximately 5.5%.
Management forward view
FY27 Revenue & Margin Outlook
Targeting FY27 revenue of INR2,200-2,300 crores (10-15% growth) with an EBITDA margin of 8-9%.
FY28 Revenue & Margin Outlook
Expects FY28 to be a 'good year', targeting revenue of more than INR3,000 crores with an EBITDA margin of 11-12%.
Telangana Receivables Recovery Expectation
Expecting INR400-500 crores from Telangana government in FY27 through 5-6 installments for irrigation dues.
Considering Buyback
Management is considering a buyback, with a final decision pending a board meeting.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Telangana Irrigation Receivables | INR1,300 crores outstanding from Package 4. | Timely receipt of INR400-500 crores in FY27 as per management's expectation. |
| Execution Ramp-up | Q1 FY27 revenue INR587.9 crores, with new HAM and mining projects starting Q3. | Achievement of targeted FY27 revenue of INR2,200-2,300 crores and FY28 revenue >INR3,000 crores. |
| EBITDA Margin | Q1 FY27 adjusted EBITDA margin 5.5%. | Improvement to 11-12% in H2 FY27 and sustained 11-12% in FY28 as new projects scale up. |
| Working Capital & Net Debt | Working capital days at 133, Net Debt/Equity at 0.9. | Stabilization or reduction in working capital days and net debt to equity as project execution improves and receivables are collected. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
54Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 13th percentile of the scored universe and 21st percentile within Infra. Main check: results consistency is weak at 5/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
153 docs text-extracted · 70 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
13th percentile
overall median 67 · Infra: 21st pctile, median 64 · Micro: 9th pctile, median 73
Evidence depth
Financial-only
153 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
50
watch · capital discipline
Results
5
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-149 Cr.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸ROCE trend is -11.3%.
- ▸0/4 latest quarters had positive YoY revenue growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching KNR Constructions Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 9 Jun - KNR Constructions received LOA for a Rs. 235.07 crore flyover project in Telangana, to be completed in 24 months.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.