Investor presentation for Q4FY26
KNRCON · price
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KNR Constructions reported severe financial deterioration in Q4FY26 with standalone revenue down 37% YoY to Rs 5,353 million and EBITDA plunging 76% to Rs 283 million, with margins contracting sharply from 13.8% to 5.3%. Full year FY26 performance shows revenue of Rs 20,967 million (down 38%) and EBITDA of Rs 1,782 million (down 72%), with EBITDA margin at 8.5% versus 18.6% in FY25. PAT for the year fell 84% to Rs 1,161 million. Despite the weak financials, the company secured new project wins including two major HAM projects - NHAI's Rs 1,734 crore Telangana highway and TANSHA's Rs 2,163 crore Tamil Nadu elevated corridor. The order book stands at Rs 86,725 million with potential Rs 119,025 million including newly won projects. An asset monetization deal for 4 SPVs worth Rs 5,668 million equity is expected to close by September 2026.
The sharp margin compression and revenue decline signal significant execution challenges that may weigh on the stock despite the healthy order book. The pending asset sale could provide some balance sheet relief, but near-term earnings pressure appears likely given the margin trajectory.