KNR Constructions: KNR Constructions Stock Soars 7% on Strong Q4 Results
The KNR Constructions reported 140% YoY profit to Rs.353 cr and Sales increased to 13.54% to Rs.1414 cr in this Quarter. Overall This year 69.4% profit to Rs.777.40 cr and Sales 9.04% increased to Rs.4429.49 cr. Overall KNR Constructions have Rs.9618.8 cr projects in this year both roads and Highways.
KNR CON Market price is moving in Descending Triangle and market has reached lower high area of the channel
Shares of KNR Constructions surged over 7 percent on May 30, following the company’s impressive earnings report for the quarter ended March 2024.
KNR Constructions’ net profit soared by 140 percent year-on-year to Rs 353 crore, while net sales increased by 13.54 percent YoY to Rs 1,414 crore for the quarter.
For the full fiscal year 2024, the infrastructure development company’s net profit rose by 69.73 percent YoY to Rs 777.40 crore, with sales climbing 9.04 percent YoY to Rs 4,429.49 crore.
Throughout the year, KNR Constructions received a Letter of Award (LoA) for water supply projects in 26 Urban Local Bodies (ULBs) and sewerage projects in 4 ULBs under AMRUT 2.0 within the jurisdictions of Nalgonda and Khammam PH Divisions (Package-2) on March 12, 2024. The estimated cost of this project is around Rs 1,104 crore.
Additionally, a part of the Bengaluru-Vijayawada economic corridor on Hybrid Annuity Model (HAM) Mode under Bharatmala Pariyojana Phase-1 in Andhra Pradesh (Package 13) received its appointed date as February 10.
KNR Constructions specializes in Engineering, Procurement, and Construction (EPC) services, primarily focusing on roads and highways. The company boasts a portfolio that includes several Build-Operate-Transfer (BOT)/HAM projects. Currently, it manages 668 lane km projects in Telangana, Karnataka, and Bihar, 2 annuity-based projects, 1 toll-based project, and 8 HAM-based projects, with a total bid project cost of Rs 9,618.8 crore.
ISGEC: ISGEC Heavy Engineering Stock Drops 11% on Q4 Profit and Sales Decline
ISGEC reported net profit dropped by 17.2% YoY to Rs.71.30 cr and Sales declined by 8.5% to Rs.1867.96 cr. Overall this fiscal year reported Net profit to 24.2% as Rs.243.5 Cr and Net sales dropped by 2.81% to Rs.6219.34 cr from 6399.04 Cr in the past year.
ISGEC Market price is moving in Ascending channel and market has fallen from the higher high area of the channel
Shares of ISGEC Heavy Engineering experienced a significant decline of over 11 percent on May 30, following the release of disappointing earnings for the quarter ended March 2024.
During the quarter, its net profit dropped by 17.2 percent year-on-year to Rs 71.30 crore, while sales declined by 8.5 percent to Rs 1,867.96 crore.
Additionally, the company’s board recommended a dividend of Rs 4 per equity share of Re 1 face value for the fiscal year 2024, pending approval by shareholders at the forthcoming Annual General Meeting (AGM). If approved, the dividend will be paid on or before September 25, 2024.
In a regulatory filing, ISGEC informed that its Board of Directors also approved the re-appointment of Rashi Sikka as an Independent Director for a second term of five consecutive years, effective from May 28, 2025, subject to shareholders’ approval through a Special Resolution.
ISGEC Heavy Engineering, a multi-product, multi-location public company, has been providing a diverse range of industrial solutions to customers across 91 countries for the past 90 years. Its offerings span various critical sectors.
For the full fiscal year 2024, ISGEC’s net profit increased by 24.01 percent to Rs 243.67 crore, compared to Rs 196.49 crore in the previous fiscal year. However, its sales declined by 2.81 percent to Rs 6,219.34 crore from Rs 6,399.04 crore in the previous fiscal year ended March 2023.
Lemon Tree Hotels: Lemon Tree Hotels Stock Surges 6% on Solid Q4 Performance
The Lemon Tree Hotel operating margin decreased by 3.6% to 79.5% in this Fiscal quarter 2024.
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Net profit jumped to 52.1% as Rs.67 cr and Revenue from operations came as Rs.327 cr and 29.7% increase in this segment. EBITA came at 24% as Rs.260 cr in this Q42024. Room rate increased from 65.9% to 72% in this quarter 2024.
Following the company’s robust performance in the January-March quarter of fiscal year 2024 (Q4FY24).
So far this year, the stock of the hotel chain has witnessed a remarkable increase of over 19 percent, surpassing the 4 percent rise in the benchmark Nifty 50 index. Lemon Tree shares reached a 52-week high of Rs 158 per share on May 6, 2024.
In Q4FY24, Lemon Tree reported a 52.1 percent year-on-year (YoY) increase in net profit to Rs 67 crore, while revenue from operations grew by 29.7 percent YoY to Rs 327 crore. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) also rose by 24 percent YoY to Rs 260 crore. However, the EBITDA margin contracted sharply by 360 basis points (bps) to 79.5 percent in the March-ended quarter.
The gross average room rate stood at Rs 6,605 in FY24, up from Rs 6,333 in Q3FY24, and occupancies rose by 605 bps YoY to 72 percent in Q4FY24 from 65.9 percent in the year-ago period.
Earlier, analysts at Systematix initiated coverage on Lemon Tree Hotels with a ‘buy’ rating and set a target price at Rs 176 per share. They estimated a 20.4 percent/35.6 percent CAGR in revenue/earnings over FY23-26E.
In Q4FY24, promoters decreased their stake in Lemon Tree Hotels to 22.8 percent from 23.2 percent in the December-ended quarter. However, foreign institutional investors (FIIs) increased their stake to 27 percent from 22.8 percent in the March quarter. Mutual funds also raised their stake to 13.4 percent in the March quarter from 12.9 percent in the December quarter, while institutional investors increased their holdings to 42.44 percent from 37.8 percent.
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