J K Infra up 12% a new high

J K Infraprojects is currently the top gainer on the BSE; from its close of Rs.663.25, it opened marginally higher at Rs.666.05 but soon scaled up 12% to hit a new 52-week high at Rs.742.45.

The company posted good results for Q4FY24 post which many fund houses are seen accumulating the stock. It announced a 35% (YoY) surge in consolidated net profit at Rs.100 crore and this was on a 25% jump in total income at Rs.1433 crore.

It ended FY24 with a 25% rise in PAT at Rs.329 crore.

As of March 31, 2024, JKIL's total order book stood at Rs.2101 crore comprising metro projects, elevated corridors/flyovers, roads, and road tunnel projects.

J Kumar Infraprojects has constructed metro-rail projects in Mumbai, Delhi, and Ahmedabad. The company’s order book at end of FY24 stood at Rs.21,000 crore and the management expects it to be at Rs.25,000 crore by FY27. It expects Metro projects to be it biggest earner and estimates operating margin of 15-17% by FY27.