J Kumar Infraprojects Limited Q4FY25 Result Analysis

J Kumar infra is a civil engineering an infrastructure development company with a primary focus on development of roads, flyovers, bridges, railway over bridges, irrigation projects, commercial and residential buildings, railway building, sports complexes, airport contracts. The company also involve in piling of foundation work using hydraulic piling rigs. The company has operations in Maharashtra, Tamil Nadu, Delhi, Gujarat, Uttar Pradesh and Karnataka

Result Analysis:  J Kumar Infraprojects Limited  (CMP: Rs. 715)

Result Update: Q4FY25

---

---

Financial Performance:

Shareholding Pattern:

Particulars (In %)	Q4FY25	Q4FY24
Promoter	46.65	46.65
FIIs	13.21	11.70
DIIs	15.50	16.54
Public and Other	24.65	25.12

Management Commentary:

• J Kumar Infraprojects ‘Looking at improving EBITDA margin to 15%-16% over the next 6-8 qtrs.
• It has announced dividend of Rs 4 per share.
• The company expects order inflows of Rs 6,000 to Rs 8,000 crore in FY26, with a total order book currently standing at Rs 22,238 crore.
• The company has provided guidance for a 15% year-on-year growth in topline for FY26, based on its FY25 performance, driven by a strong order book and robust execution across key projects. That should be around Rs 6,500 to Rs 6,600 crores for FY ’26.

Outlook:

J Kumar Infraprojects shown a strong financial performance, Support by a robust order book of ₹22,238 crore and steady order inflows across key infrastructure segments. For FY26, the company anticipates new order inflows in the range of ₹6,000–₹8,000 crore and has guided for a 15% year-on-year topline growth, reflecting strong execution capabilities and healthy demand visibility. Management remains focused on improving EBITDA margins to 15–16% over the next 6–8 quarters, underscoring ongoing operational efficiency initiatives. J Kumar reported an EPS of Rs 51.70 for FY25, with the stock currently trading at a P/E of 13.82x and a P/B of 1.93x.

Results:

Particulars (In Rs. Cr.)	Q4FY25	Q4FY24	Q3FY25	YoY%	QoQ%	FY25	FY24	YoY%
Sales	1632.74	1424.97	1486.88	14.6	9.8	5693.49	4879.2	16.7
Other Income	9.88	8.69	6.71	13.7	47.2	33	28.4	16.2
Total Income	1642.62	1433.66	1493.58	14.6	10.0	5726.49	4907.61	16.7
Total Expenditure	1397.67	1221.85	1268.25	14.4	10.2	4867.09	4175.14	16.6
EBIDT	244.96	211.8	225.34	15.7	8.7	859.4	732.47	17.3
Interest	42.75	36.67	46.61	16.6	-8.3	155.09	123.88	25.2
EBDT	202.21	175.14	178.73	15.5	13.1	704.31	608.59	15.7
Depreciation	44.85	41.18	42.43	8.9	5.7	168.83	168.01	0.5
EBT	157.35	133.96	136.3	17.5	15.4	535.48	440.58	21.5
Tax	42.14	37.37	36.86	12.8	14.3	143.32	120.09	19.3
Deferred Tax	1.07	-3.08	-0.29	134.7	-469.0	1.71	-8.1	121.1
PAT	114.14	99.68	99.73	14.5	14.4	390.45	328.59	18.8

Source: Company website, EWL Research

 

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)

Disclosure Appendix

Analyst Certification (For Reports)

Vindhyachal Prasad, Elite Wealth Limited, vindhyachal@elitestock.com

The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.

As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:

• all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
• no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.

Research Excerpts

This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.

Options related research:

If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in

Other Disclosures

All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.

Ownership and material conflicts of interest Disclosure

Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of an y company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.

Country Specific Disclosures

India – For private circulation only, not for sale. Legal Entities Disclosures

Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth  Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone: 011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in

EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:

1. Reports
2. a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;

• EWL or its associates or relatives, have no actual/beneficial ownership of one %. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
• EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

2. Compensation

• EWL or its associates have not received any compensation from the subject company in the past twelve months;
• EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
• EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage  services from the subject company in the past twelve months;
• EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
• EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research 3 In respect of Public Appearances
• EWL or its associates have not received any compensation from the subject company in the past twelve months;
• The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL