KNR Constructions Ltd

- FY26 revenue expected to close around INR 2,000 crores; Q4 FY26 estimated at INR 450 crores. - FY27 revenue guidance also around INR 2,000 crores based on existing order book; potential upside if new orders are secured. - Order inflow target of INR 10,000 - 12,000 crores by September 2026, with continued bidding activity including 63 projects from NHAI before March. - Current order book around INR 8,850 crores, with expected execution of approx. INR 2,000 crores in FY27 from existing orders. - Expected margin improvement and volume expansion from FY28 onwards, with sustainable EBITDA margin targeted around 13%-14%. - New project wins anticipated to start contributing in later quarters of FY27 and gain momentum in FY28. - Active participation in HAM, irrigation, railway, metro, and solar bids to drive future growth.

- FY '26 revenue is expected at around INR 2,000 crores; Q4 revenue forecasted at approx. INR 450 crores. - FY '27 revenue guidance is similarly INR 2,000 crores based on existing orders, with potential upside from new order inflows. - Order inflow targets: INR 10,000–12,000 crores by September 2026, primarily from NHAI HAM projects. - Execution of existing order book (approx. INR 8,850 crores) is expected to contribute INR 2,000 crores revenue in FY '27. - EBITDA margin expected to improve from current low levels but not to 13%-14% until FY '28. - FY '27 EBITDA margin projected at 9%-10%, with FY '28 seen as a “very bright year” for margin recovery and revenue growth (potential INR 4,500 crores revenue). - Earnings growth aligns with improving order inflows, better project execution, and sector recovery from FY '28 onwards. - FY '28 EPS expected to improve significantly with margin normalization and revenue scaling.

- Current order book stands at approximately INR 8,850 crores, including INR 3,500 crores from mining and INR 1,700 crores from irrigation. - Excluding mining and unbilled irrigation (INR 800 crores), the net order book is around INR 4,300 crores for civil work. - Unbilled revenue at the company level is around INR 1,355 crores. - Pending bids include roughly INR 7,000-8,000 crores quoted, awaiting results. - Upcoming bidding planned for INR 10,000-12,000 crores by September 2026. - Around 63 projects are due for bidding before March 2026, ranging from INR 500 crores to INR 4,000 crores. - Selected 53 NHAI bids, sizes ranging from INR 400 crores up to INR 5,000-6,000 crores. - Railway bids: 26 ongoing, plus metro and solar bids expected. - Order inflow this year around INR 4,000 crores mainly from mining; other EPC projects total around INR 800 crores.

- No specific mention of any new fundraising through debt or equity in the provided transcript. - Current consolidated debt as of December 2025 stands at around INR 2,400 crores, expected to reduce to INR 500 crores after divestments by March 2026. - Standalone debt is zero with a cash surplus of INR 80 crores as of December 2025. - Future equity infusion planned is INR 235 crores for HAM projects—INR 87 crores in FY '26 and INR 148 crores in FY '27. - Some CAPEX planned for mining project (~INR 350 crores), expected mostly in Q4 FY '27 and FY '28. - No explicit mention of fresh debt or equity fundraising announced or planned beyond these equity infusions and capital expenditures.

- Mining Project CAPEX: - Total CAPEX ~ INR 350 crores. - Expected CAPEX likely in Q4 FY27 and remaining in FY28. - Forest clearance pending, physical work readiness will trigger CAPEX disbursement. - HAM Projects Equity Infusion: - Revised equity infusion required: INR 962 crores total. - Already invested INR 727 crores. - Additional INR 235 crores to be infused, INR 87 crores in FY26 and INR 148 crores in FY27. - CAPEX in FY26: - INR 5 crores CAPEX added in the current year. - Closure of Projects (leading to cash inflow but indirect capex impact): - Targeting closure of Palani and Ramgiri projects by March 2026 with expected cash of ~INR 500 crores. No other major strategic investment or CAPEX explicitly mentioned for immediate future.