SHRIRAM PISTON

Our Comviction Pick

Recent Lows 1692

Yesterday Lows - 1728

Currently Around 1900

Should get Ready for ATH in coming Month

BAJEL

Circuit revised from 5% to 10%

NETWEB

10% 💥

2500+

Fresh ATH

Shriram Pistons and Rings

Q4FY24 concall highlights:

1. Commenced operations at Pitampur plant in MP.

2. Building state of the art facility in Coimbatore for EV portfolio including electric motor controllers, passenger vehicles, 2 wheelers etc.

3. Also diversifying in CNG, HCNG and blended fuels.

4. Acquired majority stake in SPR EMFI and SPR Takahata precision.

5. Working on new piston design with technology collaborations.

6. Expecting domestic market to grow in between 6-8% and company to outperform the market.

7. Main growth will be seen in Q3, Q4.

8. With alternative fuels to come, content per vehicle is expected to go up.

9. Scale up in revenues will be seen in acquisitions in coming future.

Nifty back to 23220+ after Touching 21320

Nifty Recovered 1900 points almost

Did my inputs helped in difficult Times by not panicking

On Radar Again

Our old pick

KNR Constructions Ltd

Cmp - 373.35

PE - 13.50 Times

Support @325/300/280

3 years CAGR Sales - 23.51%

3 years CAGR PAT - 39.81%

Debt to equity < 0.50x with ICR - 11.28x

ROE & ROCE - 22%

Operating margin in FY24 grew by 400 Bps over previous year to 23.38%.

Revenue from operations during the Q4FY2024 has risen to ₹1,414 crore from ₹1,245 crore in Q4FY23.

Profit after tax of ₹341 crore in Q4FY2024, a stellar increase from ₹141 crore in Q4FY23, a 140% rise YOY and also 151% increase compared to the preceding quarter Dec 2023 net profit of ₹135 crore.

For the full year, revenues increased to ₹4,429 crore, a 9% improvement compared to ₹4,062 crore in FY23.

And net profit recorded ₹752 crore, reflecting a 71% growth compared to ₹439 crore in FY23.

During the March quarter, the company also received an award for water supply projects in 26 ULBs and sewerage projects in 4 ULBs under AMRUT 2.0, within the jurisdiction of Nalgonda and Khammam PH Divisions (Package–II). The letter of award was issued on March 12, 2024, with a project cost of ₹1,163 crore.

The company has diversified business spread across EPC (engineering, procurement and construction) services and engineering projects involving construction and maintenance of roads, highways, flyovers, bridges, irrigation and urban water infrastructure.

Order Book:

As of March 31, 2024, the company’s order book stood at around Cr, spread across EPC, Roads and HAM projects.

Management guidance on future expansion:

The company is actively seeking to participate in government’s Build Operate Transfer (BOT) toll projects and would be targeting EPC contracts from reputable clients and also would be focusing on projects that would need high engineering skills which the company has.

Future OB Guidance:
The company anticipates achieving an order book of ₹5,000 to ₹6,000 crores by FYE2025.

My personal view -

Its going to be very interesting to track this company and the overall road construction sector in Fy 2025

The FY2024 order inflows for several road construction companies were impacted by slower order award by NHAI.

For FY2024, HAM (Hybrid Annuity Model) and EPC (Engineering, Procurement and Construction) projects accounted for over 40 percent of the total projects (a length of around 2,500 km).

Road construction activities had gained good momentum in Q4 of FY2024.

NHAI had completed 6,644 km in 2024 against 4,882 km in FY2023.

Disc - All views expressed are personal and only for educational and Study purpose only.consult your Financial advisor before investing or taking any position based on above article

HG infra

Fresh

ATH

1677

Supreme INDS

Fresh ATH

6149

BAJEL

290 💥

POWER MECH

5000

Expecting 1️⃣0️⃣0️⃣0️⃣0️⃣+ in coming 3 years

IREDA

Tight consolidation

Getting Ready for Upmove 🔜 🔜

HG infra corrected Till

1200💥💚

Today UP 17%

1846

14000cr order Book

E2E

Paisa Double

1927

Book 50% profits and Keep free shares for Next Test levels of - 3x/4x/5x

Supreme INDS

Inching Further

Fresh ATH

6349

I.T stocks looking Good
Next 1 to 3 month

I.T Index - 34700

HFCL

On Radar Again

Getting Ready for 52wk High 🔜

I.T Index

Moving

+460 /1.33%

35000 ➕

BAJEL

Fresh ATH

299 ➕

Our T - 500+