KNRCON
KNR Constructions share price & financials
- Price
- ₹140.86
- Market cap
- ₹3.5k Cr
- Sector
- Construction
- Calls analysed
- 6
KNR Construct. Q4 FY26
What went well
- Consolidated Revenue for FY26 reached INR2,698 crores, with a Net Profit of INR437 crores.
- The total order book, including recently won HAM projects, stands at INR11,903 crores as of March 31, 2026, providing strong revenue visibility.
- Significant new order inflows this quarter, including two HAM projects worth INR3,897 crores and two EPC projects worth INR133 crores.
What to watch
- Consolidated EBITDA margin for FY26 was 26.4%, with management guiding for 10-11% on new orders due to increased competition.
- INR670 crores of debtors are pending from the Kaleshwaram Package 4 irrigation project, contributing to total Telangana government outstanding of INR1,400-1,450 crores.
What KNR Constructions Limited does
KNR Constructions is a Hyderabad-based engineering, procurement and construction (EPC) company focused on roads and highways, with an established presence in irrigation, urban water infrastructure and mining EPC contracts. It works both as a contractor for clients such as NHAI, MoRTH and various state highway/irrigation authorities, and as a concessionaire, holding equity stakes in Build-Operate-Transfer annuity and Hybrid Annuity Mode (HAM) road projects that it develops, operates and collects annuity payments from over multi-year concession periods. Execution is largely in-house, backed by a self-owned fleet of construction equipment and a workforce spanning project engineering, site supervision, site engineering and equipment operations. Incorporated in 1995, the company has expanded its project footprint across multiple Indian states and recently added mining EPC as a new business vertical.
Segments
- Roads & Highways (EPC)
- Irrigation & Urban Water Infrastructure
- BOT/HAM Road Concessions
- Mining
- Road projects executed (cumulative)
- ~9,127 lane km
- Nationwide execution footprint
- 81 projects delivered across 11 Indian states over the last 30 years
- BOT/HAM concession portfolio
- 10 road concession SPVs — 8 Hybrid Annuity Mode projects (100% owned) plus 2 legacy annuity toll projects (40% stake each)
- BOT/HAM concession road length
- 452 lane km of concession projects in Telangana and Karnataka
- In-house construction equipment fleet
- ~3,130 owned equipment units across 30 machinery categories (tippers/tankers, excavators, cranes, batching/hot-mix/wet-mix plants, etc.), as of Mar 31, 2026
- In-house workforce
- 2,540 employees across project engineering, site supervision, site engineering, equipment operations and admin, as of Mar 31, 2026
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 2 delivered 5 missed 7 open- Order Inflow delivered, diluted said Q3 FY25 Promised: INR 8,000-10,000 crores in next 3-4 months Q4 FY26: Achieved INR 8,330 crores in order inflow for FY26, meeting the low end of the revised target (INR 8,000-10,000 cr). The original timeline and value were missed.
- EBITDA Margin missed said Q3 FY25 Promised: 15% to 15.5% Q4 FY26: Full year FY26 standalone EBITDA margin was 8.5%, missing all prior guidance levels (original 15-15.5%, revised 13-13.5%). New guidance for future projects is 10-11%.
- Asset Monetization delayed said Q3 FY25 Promised: 1 asset by Q1 FY26, other 3 by Dec 2025 Q4 FY26: Successfully closed the sale of one asset (KNR Palani) in Q4. The target to close two assets in the quarter was partially met. Monetization of other assets ongoing.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 9.5%, net profit up 452.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 884 | 743 | 851 | 483 | 493 −44% | 585 −21% | 535 −37% | 437 −10% |
| EBITDA | 165 | 152 | 118 | 66 | 54 −67% | 31 −80% | 28 −76% | 66 +0% |
| Net profit | 334 | 182 | 75 | 51 | 28 −92% | 18 −90% | 19 −75% | 282 +453% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −35.5% 1Y
1Y: ₹194.96 on 10 Sept 2025 → ₹125.66. High ₹209.71 (22 Sept 2025), low ₹109.62 (27 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −2.6%
- 6 Jun
- Q3 FY26
- +2.3%
- 6 Feb
- Q2 FY26
- −0.8%
- 20 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 19.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹4.0k Cr | ₹4.1k Cr | ₹3.4k Cr | ₹2.1k Cr |
| Operating profit | ₹883 Cr | ₹700 Cr | ₹627 Cr | ₹179 Cr |
| Operating margin | 22.1% | 17.1% | 18.7% | 8.5% |
| Interest | ₹141 Cr | ₹29 Cr | ₹13 Cr | ₹14 Cr |
| Depreciation | ₹172 Cr | ₹125 Cr | ₹91 Cr | ₹59 Cr |
| Net profit | ₹427 Cr | ₹494 Cr | ₹725 Cr | ₹116 Cr |
| Net margin | 10.7% | 12.1% | 21.6% | 5.5% |
| Cash from operations | ₹13 Cr | ₹218 Cr | ₹-264 Cr | ₹43 Cr |
| Free cash flow | ₹-39 Cr | ₹145 Cr | ₹-282 Cr | ₹65 Cr |
| ROCE | 24.0% | 24.0% | 27.0% | 4.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹56 Cr | ₹56 Cr | ₹56 Cr | ₹56 Cr | ₹56 Cr | ₹56 Cr |
| Reserves | ₹1.8k Cr | ₹2.2k Cr | ₹2.7k Cr | ₹3.2k Cr | ₹4.7k Cr | ₹4.0k Cr |
| Borrowings | ₹1 Cr | ₹6 Cr | ₹6 Cr | ₹4 Cr | ₹2.3k Cr | ₹7 Cr |
| Other liabilities | ₹1.1k Cr | ₹1.1k Cr | ₹959 Cr | ₹1.0k Cr | ₹610 Cr | ₹623 Cr |
| Total liabilities | ₹2.9k Cr | ₹3.3k Cr | ₹3.7k Cr | ₹4.2k Cr | ₹7.7k Cr | ₹4.7k Cr |
| Fixed assets | ₹405 Cr | ₹490 Cr | ₹481 Cr | ₹437 Cr | ₹445 Cr | ₹309 Cr |
| Capital work in progress | ₹2 Cr | ₹21 Cr | ₹3 Cr | ₹2 Cr | ₹1 Cr | ₹0 Cr |
| Investments | ₹490 Cr | ₹483 Cr | ₹524 Cr | ₹662 Cr | ₹220 Cr | ₹314 Cr |
| Other assets | ₹2.0k Cr | ₹2.3k Cr | ₹2.7k Cr | ₹3.1k Cr | ₹7.0k Cr | ₹4.1k Cr |
| Total assets | ₹2.9k Cr | ₹3.3k Cr | ₹3.7k Cr | ₹4.2k Cr | ₹7.7k Cr | ₹4.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +9.44 pp while DIIs trimmed −7.80 pp. The shareholder count grew 5% to 2,42,376.
- Promoters
- 48.8%
- FIIs
- 5.4%
- DIIs
- 17.3%
- Public
- 28.5%
Since Jun 2025
- Public +9.44 pp
- DIIs −7.80 pp
- FIIs −1.63 pp
How it drifted, 12 quarters
Over this window the public went from 10.0% to 28.5% — +18.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.1%, FIIs 6.6%, DIIs 32.3%, Public 10.0%.Dec '23: Promoters 51.1%, FIIs 7.6%, DIIs 29.3%, Public 12.0%.Mar '24: Promoters 51.1%, FIIs 7.1%, DIIs 30.5%, Public 11.3%.Jun '24: Promoters 48.8%, FIIs 8.2%, DIIs 30.8%, Public 12.3%.Sep '24: Promoters 48.8%, FIIs 6.7%, DIIs 30.5%, Public 14.1%.Dec '24: Promoters 48.8%, FIIs 7.0%, DIIs 29.7%, Public 14.5%.Mar '25: Promoters 48.8%, FIIs 6.9%, DIIs 28.3%, Public 16.0%.Jun '25: Promoters 48.8%, FIIs 7.1%, DIIs 25.1%, Public 19.0%.Sep '25: Promoters 48.8%, FIIs 7.5%, DIIs 21.5%, Public 22.2%.Dec '25: Promoters 48.8%, FIIs 7.4%, DIIs 20.0%, Public 23.8%.Mar '26: Promoters 48.8%, FIIs 6.3%, DIIs 19.3%, Public 25.6%.Jun '26: Promoters 48.8%, FIIs 5.4%, DIIs 17.3%, Public 28.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Invesco India Balanced Advantage Fund Mutual fund newly disclosed 4.11% held
- Robeco Capital Growth Funds Global fund house newly disclosed 1.12% held
- Bajaj Finserv Small Cap Fund Mutual fund +0.29 pp 1.87% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of KNR Constructions Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Kamidi Narsimha Reddy | 30.40% | unchanged |
| Kamidi Jalandhar Reddy | 13.25% | unchanged |
| ICICI Prudential Infrastructure Fund Mutual fund | 4.73% | unchanged |
| Invesco India Balanced Advantage Fund Mutual fund | 4.11% | newly disclosed |
| HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund | 3.76% | unchanged |
| Kamidi Yashoda | 2.85% | unchanged |
| Mereddy Rajesh Reddy | 2.31% | unchanged |
| Bajaj Finserv Small Cap Fund Mutual fund | 1.87% | +0.29 pp |
| HSBC mutual fund- HSBC value fund Mutual fund | 1.14% | −0.30 pp |
| Robeco Capital Growth Funds Global fund house | 1.12% | newly disclosed |
| SBI Small Cap Fund Mutual fund | — | off the list |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q4 FY26 call →Learn to analyse KNR Constructions Limited
Guides on how to read this kind of business and the numbers that matter.