KNR Constructions Limited — Interim / Quarterly Report 2020

Nov 12, 2020

Dated 12h November 2020 Ref: KNRCL/SD / 2020 / 7s6 & 157

To B S E Lirnited P J Towers, Dalal Street, Fort, MUMBAI - 400001 To National Stock Exchange of India Limited "ExchangePlaza", Bandra Kurla Complex, Bandra (E), MUMBAI - 400051

BSE Code:532942

NSE Svmbol: KNRCON

Sfu,

Sub: - Proceedings of the Board Meeting as per Regulation 33

With reference to the above, we wish to inform you that in the just concluded Meeting of the Board of Directors of the Company, inter-aliea considered and approved the Un-audited Financial Results (Standalone & Consolidated) for the Quarter / Half Year ended 30th September 2020, duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company, at its meeting held today.

We also enclosed a copy of the Limited Review Report of the Auditors of the Company on the Unaudited Financial Results (Standalone & Consolidated) of the Company for the Quarter / HalI Year ended 30th September 2020, as required under Regulation 33 of the Listing Regulations.

We hereby declare that the Unaudited Report in respect of Standalone and Consolidated Financial Statements for Quarter / Half Year Ended 30th September 2020 is unmodified.

This is for your information and records Yours sincerely, for KNR Constructions Limited

*'r'*a.,*O^ M. V, '4' \ENKATA RAO Company Secretary

KNR CONSTRUCTIONS LIMITED

CIN: L74210TG1995PLC130199

Regd. Office: KNR House, 3rd & 4th Floor, Plot No: 114, Phase-I, Kavuri Hills, Hyderabad - 500 033 Ph: 040 -40268759 /61 /62 Fax: 040-40268760; website: knrcl.com; E-mail: investors@knrcl.com

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2020

	(Rupees In Lakhs, except share data)
		STANDALONE
SI.	PARTICULARS		Quarter endedJune 30		Half Year ended		Year ended
No.		September 302020	2020	September 302019	September 302020	September 302019	March 312020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1.	Revenue from Operations (Refer note : 6 & 7)	60,120.07	47,936.83	54,619.65	108,056.90	101.079.93	224, 423.89
2.	Other Income (Refer note: 7)	759.14	610.17	2,556.12	1,369.31	4,233.69	5,658.86
3.	Total income $(1+2)$	60,879.21	48,547.00	57,175,77	109,426.21	105,313.62	230,082.75
	4. Expenses
	Cost of materials consumeda)	19,045.09	18,985.40	17,208.33	38,030.49	35,806.96	75,328.14
	b) Sub contract Expenses	3,131.08	4,098.07	1,218.32
	Spreading & Assortment Expenses	17.219.03	8.417.70		7,229.15	5,361.59	7,700.73
	c)Employee benefits expensed)			13, 143. 18	25,636.73	20,933.34	52,470.79
		2,925.54	2,776.21	3,628.45	5,701.75	6,342.47	12,521.92
	Finance Costse)	1,579.10	1,021.41	976.18	2,600.51	1,880.00	4,741.07
	Depreciation and amortization expensef)	3.517.93	3,309.48	4,751.88	6,827.41	8,639.28	19, 184.77
	g) Other expenses	5.394.67	4.226.05	6,843.73	9,620.72	11,055.81	27,695.32
	Total Expenses (a to g)	52,812.44	42,834.32	47,770.07	95,646.76	90,019.45	199,642.74
5.	Profit / (loss) before exceptional items and tax $(3 - 4)$	8,066.77	5,712.68	9,405.70	13,779.45	15,294.17	30,440.01
6.	Exceptional Items (Refer note: 5 & 8)	1,124.70		400.61	1,124.70	400.61	1.072.14
7.	Profit / (loss) before tax $(5 - 6)$	6,942.07	5,712.68	9,005.09	12,654.75	14,893.56	29,367.87
8.	Tax Expense
	Current Tax	2,529.39	2,206.19	2,484.69	4,735.58	3,885.28	9,774.20
	Tax relating to earlier years			0.61		0.61	6.45
	MAT credit entitlement
	Deferred Tax	(570.80)	(472.46)	(489.49)	(1,043.26)	(773.36)	(2.935.09)
	Total Tax Expense	1,958.59	1,733.73	1,995.81	3.692.32	3,112.53	6,845.56
9.	Net Profit/(Loss) after tax (7 - 8)	4,983.48	3,978.95	7,009.28	8,962.43	11,781.03	22,522.31
	10. Other Comprehensive Income (OCI) [Net of tax]	(9.59)	(9.59)	(0.19)	(19.18)	(0.39)	(38.66)
	11. Total Comprehensive Income (9+10)	4,973.89	3,969.36	7,009.09	8,943.25	11,780.64	22,483.65
	12. Paid up equity share capital (Face Value Rs.2/- per share)	2,812.35	2.812.35	2,812.35	2,812.35	2,812.35	2,812.35
	13. Other Equity						159,576.49
	14. Earnings Per Share (EPS)
	a. Basic EPS Rs.	$3.54*$	$2.83*$	$4.98*$	$6.37*$	8.38*	16.02
	b. Diluted EPS Rs.	$3.54*$	$2.83*$	4.98*	$6.37*$	8.38*	16.02
	* Not annualised

Notes:

1. The above Standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on November 12, 2020.

2. The above results are in compliance with the Indian Accounting Standards (IND AS) specified under the section 133 of the Companies Act, 2013 read with SEBI circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016 & mendments thereto and have been subjected to limited review by the Statutory Auditor of the Company.

3. The Statutory Auditors have carried out limited review of the unaudited standalone financials results for the quarter and half year ended September 30, 2020.

4. The Standalone figures for the quarter ended September 30, 2020 are the balancing figures between the un audited figures for the half year ended September 30 , 2020 and unaudited published standalone figures up to quarter ended June 30, 2020.

5. During the quarter and half year ended September 30, 2020, the Company has transferred its 100% share holding in one of its subsidiary i.e. KNR Walayar Tollways Pvt Ltd., (KWTPL) to CUBE Highways and firstancture III pt and Loss.

6 For the qu urter and half year ended September 30, 2020, the Company has received an Arbitration settlement in Joint Venture project, the Company's share of revenue of Rs 1,202.00 lakhs and Company's share of profit of Rs 785.62 lakhs included in statement of Profit and Loss

7 For the quarter and half year ended September 30, 2019 and year ended March 31, 2020, the Company has received an Arbitration claim in one of the project for an amount of Rs. 5,714.84 lakhs (include interest of Rs. 2,263

8 For the quarter and half year ended September 30, 2019 and year ended March 31, 2020, One of the wholly owned subsidiary i.e. KNR Chidambaram Infra Pyt Ltd. (KCIPL), has been notified by NHAI that the Concession Agreement of the KCIPL is deemed terminated w.e.f., 11th April, 2019 "as per clause 4.5 of the Concession Agreement". The Company has written off is investments in KCIPL amounting to Rs. 835.00 lakhs and written deemed terminated

9 The Company is primarily engaged in "Construction and Engineering activities" and there are no other reportable segments under Ind As 108 "Operating Segments".

10 The Company has considered the possible effects of the pandemic COVID-19, on the carrying amounts of financial and non financial assets. The Company has performed sensitivity analysis on the assumptions made and based on current estimates, expects that the carrying amount of these assets would be recovered. The impact of COVID-19 on the Company's financial results and differ from that estimated as at the date of approval of these ternal sources of information, economic forecasts and consensus estimates from market sources with regard to the expected performance of the Company

11 Figures for the previous year/period have been regrouped/re-classified to confirm to the figures of the current period.

For KNR Constructions Ltd. K. Jalandhar Reddy

Executive Director DIN: 00434911

Place: Hyderabad Date: 12-11-2020

KNR CONSTRUCTIONS LIMITED

CIN: L74210TG1995PLC130199

STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2020

(Rs. In Lakhs)
As atPARTICULARS
	September 30, 2020	March 31, 2020
I ASSETS
1) NON-CURRENT ASSETS
a) Property, plant and equipment	34,119.00	37,777.49
b) Capital work-in-progress	281.70	1,015.48
c) Right of Use Assetd) Investment property	187.66	260.00
e) Other Intangible assets	6,587.97	6,587.97
f) Financial Assets	11.32	14.93
i)Investments
$\mathbf{ii}$Other Investments	18,605.7116,570.54	18,605.71
$\mathsf{iii}$Loans	290.38	13,810.86
iv) Other financial assets	2,232.09	283.51
g) Deferred tax assets (Net)	14,702.60	122.5716,098.54
h) Non current tax assets (Net)	2,572.09	2,164.88
i) Other non-current assets	10,050.41	8,932.76
Total non-current assets	106,211.47	105,674.70
2) CURRENT ASSETS
a) Inventories	11,749.72	12,316.27
b) Financial assets
i)Investments in Associates held for sale		39,069.47
$\mathsf{ii}$Trade receivables	34,700.68	47,610.80
iii) Cash and cash equivalents	2,617.70	2,019.25
iv)Bank balances, other than (iii) above	1,301.08	1,285.72
V)Loans	348.88	286.74
$Vi$ )Other financials assets	24,637.16	21,211.36
c) Current tax assets (Net)	1,060.32	1,806.38
d) Other current assets	64,964.29	40,497.88
Total current assets	141,379.83	166,103.87
TOTAL ASSETS	247,591.30	271,778.57
II EQUITY AND LIABILITIES
EQUITY
a) Equity Share capitalb) Other equity	2,812.35	2,812.35
Total Equity	168,519.74	159,576.49
	171,332.09	162,388.84
LIABILITIES
1) NON - CURRENT LIABILITIES
a) Financial liabilities
i)Borrowings	$\overline{a}$	18,045.73
Lease Liability$\mathbf{ii}$	96.81	107.53
iii)Other financial liabilities	15.36	15.36
b) Provisions	808.88	587.82
c) Other non-current liabilities	1,052.09	1,052.09
Total non-current liabilities	1,973.14	19,808.53
2) CURRENT LIABILITES
a) Financial liabilities
i)Borrowings$\mathbf{ii}$	5,631.54	3,364.42
Trade Payables :Dues to Micro & Small Enterprises
Dues to other than Micro & Small Enterprises	273.06	478.26
ili)Other financial liabilities	23,083.09	24,631.73
b) Provisions	15,083.18	16,524.26
c) Other current liabilities	2,159.36	1,733.99
d) Current tax liabilities (Net)	27,876.10	42,807.38
Total current liabilities	179.74	41.16
	74,286.07	89,581.20
TOTAL EQUITY AND LIABILITIES	247,591.30	271,778.57

K Tatanelled ledder

KNR CONSTRUCTIONS LIMITED CIN: L74210TG1995PLC130199

STANDALONE CASHFLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2020

(Rs. In Lakhs)
PARTICULARS	September 30, 2020(Unaudited)	September 30, 2019(Unaudited)
A) Cash flow from Operating Activities
Profit before tax	12,654.75	14,893.56
Adjustments for:
Depreciation and Amortisation	6,827.41	8,639.28
Loss/(Profit) on sale of Property, Plant and Equipment, Investment Property(Net)	(32.67)	(228.25)
Liabilities no longer required Written Back	(211.02)	(381.77)
Bad Debts / Advances Written Off	29.48	149.12
Un winding Interest on Fair Value of Financial Instruments	(13.79)	(11.22)
Exceptional Item	1,124.70	400.61
Dividend received on current investments		(0.03)
Un winding Interest on Lease liability	4.72
Interest Expense on Fair Value of Financial Instruments	597.39
Finance cost	1,998.40	1,880.00
Interest Income	(183.43)	(2,814.34)
Operating profit before working capital changes	22,795.94	22,526.96
Changes in working capital:
(Increase)/Decrease in Trade and Other Receivables and prepayments	(11, 617.50)	(16, 625.43)
(Increase)/Decrease in Inventories	566.55	(1,014.79)
Increase/(Decrease) in Trade and other Payables	(16,622.66)	17,884.99
Cash generated/ (used) from Operations	(4,877.67)	22,771.73
Income Taxes (paid) / Refund	(1,796.89)	(4,981.01)
Net Cash flows from / (used in) Operating Activities- (A)	(6,674.56)	17,790.72
B) Cash flow from Investing Activities
Proceeds from sale of property, plant and equipment	143.02	322.93
Purchase of property, plant and equipment and Capital Work-in-Progress
Interest Received	(2,457.13)93.77	(14, 606.41)
Bank Balances not considered as cash and cash equivalents		2,670.07
Loans/Advances to Subsidiaries/Associates and others	(15.36)	(511.39)
	(55.22)	19.73
Proceeds from sale / (purchase) of Investments in Subsidiaries, Associates and OthersDividend received on current investments	28,043.72	(8,759.01)
		0.03
TDS on Interest Received	(11.77)	(25.41)
Net Cash flows from / (used in) Investing Activities- (B)	25,741.03	(20, 889.46)
C) Cash flow from Financing Activities
Proceeds from borrowings	15,530.00	921.00
Repayment of borrowings	(29, 359.94)	(1,793.63)
Increase / (decrease) in short term borrowings	(2, 732.88)	6,101.10
Finance cost paid	(1,905.20)	(2, 113.44)
Net Cash Flows from / (used in) Financing Activities- (C)	(18, 468.02)	3,115.03
Net increase/(decrease) in cash and cash equivalents - $(A+B+C)$	598.45	16.29
Cash & Cash Equivalents at the beginning of the year	2,019.25	582.83
Cash & Cash Equivalents at end of the year (Refer Note)	2,617.70	599.12
Note:
Cash & Cash equivalents
Cash on hand	44.25	54.88
Bank Balance - Current Account	2,573.45	544.24
Total Cash & Cash equivalents	2,617.70	599.12

19 - dandlea) leddy

KNR CONSTRUCTIONS LIMITED

CIN: L74210TG1995PLC130199 Regd. Office: KNR House, 3rd & 4th Floor, Plot No: 114, Phase-I, Kavuri Hills, Hyderabad - 500 033

Ph: 040 -40268759 /61 /62 Fax: 040-40268760; website: knrcl.com; E-mail: investors@knrcl.com

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE OUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2020

	(Rupees In Lakhs, except share data)
			Quarter ended			Half Year ended
SI.	PARTICULARS	September 30	June 30	September 30	September 30	September 30	March 31
No.		2020	2020	2019	2020	2019	2020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Ł.	Revenue from Operations (Refer note : 6 & 7)	65,587.88	52,252.59	58,707.30	117,840.47	111,778.87	245,168.17
$\overline{2}$ .	Other Income (Refer note: 7)	800.63	699.30	2,732.62	1,499.93	4,606.42	6,568.82
3.	Total income (1+2)	66,388.51	52,951.89	61,439.92	119,340.40	116,385.29	251,736.99
4.	Expenses
	a) Cost of materials consumed	19,045.09	18,985.40	17,208.33	38,030.49	35,806.97	75.328.14
	b) Sub contract Expenses	3.131.08	4.098.07	1,218.32	7,229.15	5,361.59	7.700.73
	c) Construction cost	162.19	225.24	196.24	387.43	3,577.99	4,456.81
	Spreading & Assortment Expensesd)	17,230.41	8,424.47	13,171.79	25.654.88	20,982.99	52,555.64
	Employee benefits expense$\bf c)$	2,965.31	2,814.44	3,672.77	5,779.75	6,426.88	12,692.15
	Finance Costsf)	3,923.31	2,917.83	2,378.80	6,841.14	4,746.60	11,023.08
	Depreciation and amortization expenseg)	5,037.39	4,860.44	6,308.44	9.897.83	11,752.06	25,412.63
	h) Other expenses	5,942.87	4,697.10	7,415.41	10,639.97	12,215.68	30,190.84
	Total Expenses (a to h)	57,437.65	47,022.99	51,570.10	104,460.64	100,870.76	219,360.02
5.	Profit / (loss) before exceptional items and tax $(3 - 4)$	8,950.86	5,928.90	9,869.82	14,879.76	15,514.53	32,376.97
6.	Exceptional Items (Refer note : 5 & 8)	(8,525.20)		400.61	(8,525.20)	400.61	1,072.14
7.	Profit / (loss) before tax $(5 - 6)$	17,476.06	5,928.90	9,469.21	23,404.96	15,113.92	31,304.83
8.	Tax Expense
	Current Tax	2,529.39	2,206.19	2,483.27	4,735.58	3,889.01	9,774.20
	Tax relating to earlier years			0.61		(2.78)	3.06
	MAT credit entitlement
	Deferred Tax	(570.80)	(472.46)	(478.87)	(1,043.26)	(762.75)	(2.924.49)
	Total Tax Expense	1,958.59	1,733.73	2,005.01	3,692.32	3,123.48	6,852.77
9.	Net Profit/(Loss) after tax (7 - 8)	15,517.47	4,195.17	7,464.20	19,712.64	11,990.44	24,452.06
	10. Share of profit / (loss) of associates and joint Controlled Entity	(127.87)	(10.49)	842.37	(138.36)	770.28	1,142.14
	11. Net Profit/(Loss) after tax and share of profit / (loss) of associates and joint	15,389.60	4,184.68	8,306.57	19,574.28	12,760.72	25,594.20
	controlled entity $(9 + 10)$
	Attributable to:
	Shareholders of the Company	15,839.59	4.668.43	8,590.49	20,508.02	12.879.91	26.550.58
	Non-Controlling Interest	(449.99)	(483.75)	(283.92)	(933.74)	(119.19)	(956.38)
	12. Other Comprehensive Income (OCI) [Net of tax]	(9.72)	(9.59)	(0.24)	(19.31)	(0.21)	(40.90)
	13. Total Comprehensive Income (11+12)	15,379.88	4,175.09	8,306.33	19,554.97	12,760.51	25,553,30
	Attributable to:
	Shareholders of the Company	15,829.87	4,658.84	8,590.25	20,488.71	12,879.70	26,509.68
	Non-Controlling Interest	(449.99)	(483.75)	(283.92)	(933.74)	(119.19)	(956.38)
	14. Paid up equity share capital (Face Value Rs.2/- per share)	2,812.35	2,812.35	2,812.35	2,812.35	2,812.35	2,812.35
	15. Other Equity						152,404.24
	16. Earnings Per Share (EPS)
	a. Basic EPS Rs.	$11.26*$	$3.32*$	$6.11*$	14.58*	$9.16*$	18.88
	b. Diluted EPS Rs.	$11.26*$	$3.32*$	$6.11*$	14.58*	$9.16*$	18.88
	Excitered WM

Notes

$\tilde{\mathcal{A}}$

1. The above Consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on November 12, 2020.

2. The above results are in compliance with the Indian Accounting Standards (IND AS) specified under the section 133 of the Conmanies Act, 2013 read with SEBI circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016 & amendments thereto and have been subjected to limited review by the Statutory Auditor of the Comp

3. The Statutory Auditors have carried out limited review of the unaudited Consolidated financial results for the quarter and half year ended September 30, 2020.

4. The Consolidated figures for the quarter ended September 30, 2020 are the balancing figures between the un audited figures for the half year ended September 30, 2020 and unaudited published Consolidated figures up to qu

5. During the quarter and half year ended September 30, 2020, the Company has transferred its 100% share holding in one of its subsidiary i.e. KNR Walayar Tollways Pvt Ltd., (KWTPL) to CUBE Highways and Infrastructre III p of Rs. 8,525.20 lakhs is shown as exceptional items in the statement of Consolidated Profit and Loss.

6. For the quarter and half year ended September 30, 2020, the Company has received an Arbitration settlement in Joint Venture project, the Company's share of revenue of Rs 1,202.00 lakhs and Company's share of profit of Rs 785.62 lakhs included in statement of Consolidated Profit and Loss.

state or point of N 10.000 maximum successions in Section 2013. The Company has received an Arbitration claim in one of the project for an amount of Rs. 5,714.84 lakhs (includeinterest of Rs. 2,175.17 lakhs) and Rs. 6,170 Company Receivables and an amount of Rs. 510.89 lakhs has been accounted towards expenditure.

1. For the quarter and half year ended September 30, 2019 and year ended March 31, 2020, One of the wholly owned subsidiary i.e. KNR Chidambaram Infra Pvt Ltd., (KCIPL), has been notified by NHAI that the Concession Agreement of the KCIPL is deemed terminated w.e.f., 11th April, 2019 "as per clause 4.5 of the Concession Agreement". The Company has written off its investments in KCIPL amounting to Rs. 4335.00 lakhs and w the EPC Contract has also been deemed terminated

2. The Group is primarily engaged in "Construction and Engineering activities" and there are no other reportable segments under Ind As 108 "Operating Segments".

3. The Group has considered the possible effects of the pandemic COVID-19, on the carrying amounts of financial and non financial assets. The Group has performed sensitivity analysis on the assumptions and care and based

4. Figures for the previous year/period have been regrouped/re-classified to confirm to the figures of the current period.

Place : Hyderabad Date: 12-11-2020

FOR KNR CONSTRUCTION K. Jalandhar Reddy Executive Director DIN: 00434911

KNR CONSTRUCTIONS LIMITED CIN: L74210TG1995PLC130199

STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2020

September 30, 2020(Un-Audited)34,386.09281.70	March 31, 2020(Audited)
	38,098.31
	1,015.48
187.66	260.00
7,244.26	7,245.30
37,648.97	81,878.48
3,755.06	3,893.42
95,128.16	69,902.32
14,702.60	16,098.54
5,182.97	4,306.89
21,094.10	17,594.97
219,611.57	240,293.71
11,749.72	12,316.27
1,531.03	2,690.49
16,568.87	17,464.88
3,262.93	4,065.55
2,465.84	4,221.68
348.88	286.74
25,106.24	23,118.94
1.060.32	1,836.44
68,494.33130,588.16	44,038.63110,039.62
350,199.73	350, 333. 33
2,812.35850.00172,892.95176,555.302,386.48	2,812.35850.00152,404.24156,066.593,320.22
178,941.78	159,386.81
75,673.67	79,171.72
96.81	107.53
204.12	165.62
2,588.46	4,246.81
1,052.09	1,052.09
79,615.15	84,743.77
5,631.54	3,364.42
273.06	478.26
24,153.13	25,818.55
17,205.88	20,672.99
2,900.97	3,148.24
41,298.48	52,679.13
	41.16
91,642.80	106,202.75
	350, 333. 33
	179.74350,199.73K - standhal tests

KNR CONSTRUCTIONS LIMITED CIN: L74210TG1995PLC130199

Consolidated Cash Flow Statement for the Half Year Ended September 30, 2020

			(Rs. In Lakhs)
	PARTICULARS	September 30, 2020(Un-Audited)	September 30, 2019(Un-Audited)
A)	Cash Flow from operating Activities
	Profit before tax	23,266.60	15,884.20
	Adjustments for:
	Depreciation and Amortisation expense	9.897.83	11,752.06
	Liabilities no longer required written back	(211.02)	(381.77)
	Bad debts/advances written off	30.27	149.13
	(Gain)/Loss on sale of property, plant and equipment	(32.67)	(228.25)
	(Gain)/Loss on sale of Mutual funds	(18.48)
	(Gain) / Loss on Fair value of Financial instruments	(6.91)	(75.02)
	Exceptional Item	(8,525.20)	400.61
	Finance Income on Financial Assets	(5.926.92)	(1,437.80)
	Provision for Periodic maintenance	562.64	515.26
	Dividend received on current investments		(0.03)
	Un winding Interest on Lease liability	4.72
	Un Winding Interest on Deferment of NHAI Premium	243.34	233.09
	Un Winding Interest on Provision for MMR	188.45	123.20
	Un Amortized Processing fee	6.13	9.19
	Interest Expense on Fair Value of Financial Instruments	597.39
	Finance costs	5,801.11	4,381.12
	Interest Income	(228, 54)	(2,887,56)
		2,382.14	12,553.23
	operating profit/(loss) before working capital changes	25,648.74	28,437.43
	Working capital adjustments:
	(Increase)/Decrease in Trade and Other Receivables and prepayments	(44, 147, 24)	(35, 474.58)
	(Increase)/Decrease in Inventories	566.55	(405.55)
	Increase/(Decrease) in Trade and other Pavables	(16, 209, 87)(34, 141.82)	28,454.5721,011.87
	Cash generated / (Used in) From Operations
	Share of profit/(loss) of an associate and a joint venture	138.36	(770.28)
	Income Taxes (paid) / Refunds	(2,235.70)	(4, 434, 75)
	Net Cash Flows from/(used in) Operating Activities - (A)	(36, 239, 16)	15,806.84
	B) Cash Flow from Investing Activities
	Proceeds from sale of property, plant and equipment	143.04	372.82
	Purchase of property, plant and equipment and Capital Work-in-Progress	(2,463.44)	(14, 874, 36)
	Proceeds from Sale/(Purchase) of investments	32,007.94	(350.78)
	Interest Received	138.88	2,752.42
	Bank Balances not considered as cash and cash equivalents	1,755.84	(828.08)
	Loans to Joint Venture Partners	(62.14)	19.73
	Dividend received on current investments		0.03
	TDS on Interest Received	(11.77)	(25.41)
	Net Cash Flow from/ (used in) Investing Activities - (B)	31,508.35	(12, 933.63)
C).	Cash Flow from Financing Activities
	Proceeds from long term borrowings	42,109.43	921.00
	Increase/(Decrease) from Short term borrowings	(2,732.88)	6,101.10
	Repayment of borrowings	(29, 869, 23)	(3,425.08)
	Deferred Payment of Liability		(1,071.25)
	Finance cost paid	(5.579.13)	(4,614,56)
	Net Cash Flow / (used in) Financing Activities - (C)	3,928.19	(2,088,79)
	Net increase/ (decrease) in Cash and Cash Equivalents - (A+B+C)	(802.62)	784.42
	Cash & Cash Equivalents at the beginning of the year	4,065.55	990.11
	Cash & Cash Equivalents as at the end of the year (Refer Note 1)	3,262.93	1,774.53
	Notes:1 Cash & Cash equivalents includes:
	Cash in Hand	68.58	161.92
	Bank Balance and Cheques on hand - current account	3,194.35	1,612.61
	Total Cash & Cash equivalents	3,262.93	1,774.53

K Tatandhal leddy

'Poornima', llnd Floor,25, State Bank Road, Bangalore - 560 00'1. Karnataka, lndia.

K, P, RAO K, VISWANATH K.P. SIDDHARTH DESMONO J, REBELLO V, NARAYANAN H,N, ANIL S, PRASHANTH

MOHAN R LAVI P. RAVINDRANATH

080 - 25587385 / 25586814 080 - 255S4661 info@kprao.co.in Phone E-mail

fndependent Auditor's Limited review report on the Quarterly and year to date Unaudited Standalone Financial Results of KNR Constructions Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors of KNR Constructions Limited Hyderabad.

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of KNR Constructions Limited (the "Company"), which includes 14 joint operations For the quarter ended September 30 2020 and year to date from April 0l,2O2O to September 30,2O2O ("the statement") beinE submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obliqations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Companyb Management and approved by the Company's Board of Di.ectors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principlesqenerally accepted in India and SEBI (Lrsting Obligations and Drsclosure Requirements) Regulations,2015, as amended. Our responsiSility is to express a c5rclusion on the Statement based on our review
• 1. \l/e condLrcted o!r Tevrew of the Staterrent irr accorciance with the Standard on Revie| Engagen.rents ("SRE") 2410'Reviev,/ oi Interirn Finencial Infornration Pertormed by the lndependent AuCitomf the Entity', issued by the L.rstitute of C"lartered A..oLrntants oi'India ("ICAI"). A revieyi ci inte;';m financial ir'rtormstiDn consists oi making inq u iries, prin)arily oi the Company's person nel responsibleforfinancial anC accounting nratters, and applyi,rg ar:alytrcai and other review procedures. A review is sutistantially iess !n scope than an audit condrrcted rn accordance with Standards on Auditing specified ur'rdersection 143(10) ol the Cc,mlJiniee Act, 2013 anC consequently does not enable us io obtarn assurance that we would beccme avrare of all significant matterg that might be ideniified in an audit. Accordinqly, we do nct express an audit oDinion,.

We erso perfcrmed procedures in accordanc.d wrtir the ci.-cular issued by the SEBI under Regulation 33 (8) ot tne SEBI (Listing Obligations and Dis(:losure Requiremeflts) RegLrlations, 2015, as amendecl to the eitent a pplrca 5le.

• 1. Ttle Statement inchider the interiin finan(:iai information cf ,:he joint operations listed in Attachment A,
• 1. Based cn our review conddcted add proc€'dtlres pr:rfcrnred as stated in paragraph 3 above and basecl on the ccnsideration of tne review repc.ts of the ot.h()r auditcrs as referred in paragraph 7 below, noti-,lng has cr)me to our atterrticrr thal .;us€s '-.!s la believe that the acccmpanying Statement, preparcd ,n accordan.;:e witl.r tlre r.cognition.3nd rTleasurement principles laid down in tlte aforesaid Ii-,dtarr Accounting Stai'tdard a.nrl ottier accounting princir)les generally accepted in India, has nol: .Jisctosit,j the rnformalion required,to b€ 6rsclosec in terms of Regulation 33 of the SEBI (Listing Obligattcns and Disclosure Requirernenis) P.egulatrons, 2A75, as amended, in.r!drng tl.le Inanner in wlrich it is to be discrosed, or that it contalr,s any.nletellal misstatement. €l'o

Branches'

Hyderabad : 3rd Floor. Di, 6-3-652, Kautilya. Somajiguda, Hyderabad - 500 082. Ph.: 040-23322310 Myiore : 74, 2nd Main, First stage, Viiayanagar, Mysore - 570 017 Ph.: 0821-2517971 Chennai : Flat 2-A, Second Floor, Shruthi 3/7, 8th Cross Street, Shastrinagar, Adayar, Chennai - 600 020. Ph.: 044'24903137 I 45511564

K. P. RAO & CO. Continuation Sh eet.. CHARTERED ACCOUNTANTS

6. Emphasis of M atter

We draw attention to Note No 1oto the Standalone Financial results, which describes the management's assessment of uncertainties related to COVID-19 and its consequential financial impact on operations of the Company. Our conclusion is not modified in respect of this matter.

1. We did not review the interim financial information oF 10 joint operations included in the standalone unaudited interim financial inFormation reflect total assets (before consolidation adjustments) of Rs.22,691.52 Lakhs as at September 30,2020 and total revenue (before consolidation adjustments) of Rs. 12,826.18 Lakhs and Rs. 17,489.93 Lakhs and total profit after tax(before consolidation adjustments) of Rs. 1,450.38 Lakhs and Rs. 1,537.38 Lakhs, total comprehensive income (before consolidation adjustments) of Rs. Nil and Rs. Nil for the quarter ended September 30,2020 and for the period From April 1, 2020 to September 30, 2020 respectively considered in the standalone unaudited interim results. The interim financial information of these joint operations have been reviewed by the other auditors whose reports have been Furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

B. We did not review the interim financial information of 4 joint operations included in the standalone unaudited interim financial information reflect total assets(before consolidation adjustments) oF Rs.1,962.44 Lakhs as at September 30, 2O2O and total revenue (before consolidation adjustments) of Rs. 19.81 Lakhs and Rs. 19.81 Lakhs, total Loss after tax (before consolidation adjustments) Rs. 271,01 Lakhs and Rs.271.01 Lakhs, total comprehensive income (before consolidation adjustments) of Rs. Nil and Rs. Nil for the quarter ended Septembet 30,2020, and for the period from April 1, 2020 to September 30, 2020, respectively considered in the standalone unaudited interim results. The interim financial information of these joint operations have not been reviewed by their auditors whose financial information have been furnished to us by the l4anagement of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on such interim financial information certified by the lvlanagement of the Company. According to the information and explanations given to us by the Management, these interim financial information are not material to the Company.

Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management

For K,P, Rao & Co., Cha d Accountants Firm's Registration mber: O 135S

ohan R Lavi Partner

Place: Bangalore Date: 12rH November 2020

Membership Number: o2934o uoIN : 20029340AAAAFV4390

K. P. RAO & CO. CHARTERED ACCOUNTANTS

Continuation Sheet

ATTACHMENT A

SI	Name of the Entity
No	Joint Operations - Reviewed by other Auditors
1	Patel KNR - lV
2	KNR BPL - ]V
3	KNR Patel - JV
4	KNR JKM - ]V
5	KNR PBEPL - JV
6	KNR SEW GVR - JV
7	BSCPL KNRCL - ]V
R	KNR HES ACPL - ]V
9	PSK KNR GVR - ]V
10	KNR SLI\4I - ]V
	Joint Operations- not reviewed by other Auditors
1	KNR SLEC - JV
2	KNR GVR - ]V
3	KNR JKM KamaIa - ]V
4	KNR TBPCL - ]V

K. P, RAO K, VISWANATH K,P- SIDDHARTH OESMOND J, REBELLO V, NARAYANAN H.N. ANIL S, PRASHANTH

MOHAN R LAVI P, RAVINDRANATH

080 - 25587385 / 25586814 080 - 25594661 inlo@kprao.m.in Phon6 Fax E-mail

Independent Auditor's Limited review report on the Quarterly and year to date Unaudited Consolidated Financial Results of KNR Constructions Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors, KNR constructions Limited, Hyderabad.

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Consolidated Financial Results of KNR Crnstructions Limited (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as tne "Group"), and its share oF the net profit after tax and total comprehensive profit of its associates and joint venture for the quarter ended Septembet 30 2020 and yeai'to date frcm Apnl 01, ?L2O to September 30, 2020 (the "Statement"), beinq submitted by the Parent pursuant to the requirement oF Reguiation 33 oF the SEBI (Listing Obligations and Disclosure P.equirements) Regulations, 2015, as amendeC.
• 1. This Statement, v,i hich is the responsibility oftne Parent's lvtanagement and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the lndian Accounting Standard 34 "Interam Financial Reporting" ("Ind AS 34"), preslritred unCei Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and cther accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted cuT review of the Statement in accordance with the Standaro on Review Engagements (SRE) 2410 "Review oF Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oF Indra ("ICAI"), A revielt of interim firlarctel information consists of nraxrn3 ii-rquiries, primarilv of Parent's personnel responsible ior firrarncral ancl accountrng matters, and applying analytical and other review procedures. A review rs sLrbst3ntially less in scope than an auCit conducted in accoTd3nce with Standards on Auditing specified under Sectior, 143(10) of the Coffrpanies Act, 2013 and consequently does not enable us tc obtain assurance that u/e wouid become aware of allsignificant matters that might be identified in an audit. Accordingly, vle do not express an a!dit opinion.

We aiso performed procedures in accordance \rith the circular issued by the SEBI under ,Reg ulation ri3(8),of ihe SEBI (Listing Obligatrons and D rsclcsure.Req u irements) Regulations, 2015, as amended, to the extent a pplica ble.

• 1. The Statement incluCes the results of the entities as referred to in Attachment A
• Based on ourrevie,^/ conducted and procedui-es oerformed as stated in paragraph 3 above and baseo cn the coris,deration (rf the rev:ev, reports of the other auditors referred to in paragraph 7 below, nothir;g iias come to our attention thit cau.;es us to belreve that the accon]panying Statement, id down in the aforesaid epted in india, has not 33 of the SEBI (Listjng incl'JC:n-q !b.e manner in 5 prcparcc rn aciroroance with thc recc!nition an.d measurement principles la .indran Accountin,l Standard fnd ,llher accc.Jnting principles generally acc drsclosecr :he jnfcrinatron requireC tc be disclosed In teTn.is of Reoulation Obligaticns and trisclosure Requirdr.rents) Rellularions 201-q, as amenced, !virich it is to be ciisclrsed. or thai it iontaihs any maa.r,i:l mtsstatement.

Hyderabad : 3rd Flool D1, 6-3-652, Kautirya, soma.iiguda, Hyderabad - 5oo 082. ph.: 040-233223r 0 Mysore:74,2nd Main, First Stage, Vijayanagar, Mysore-5:-OOj7.ph.tOB21_2illg: 1 Chennai : FIat 2-A, Second Floor, Shrurhi j/7, 8th cross Street, Siastrinagar, Adayar, chennai - 600 020. ii., Oi_ Z+gOltll t qSStSAq

Branches

1. Emphasis of Matter

We draw attention to Note No 10 of the Statement, which describes the management assessment of uncertainties related to COVID-19 and its consequential financial impact on operations of the Company. Our conclusion is not modified in respect of this matter.

1. We did not review the interim tinancial information of 10 joint operations included in the standalone unaudited interim financial information reflect total assets (before consolidation adjustments) of Rs.22,69L.52 Lakhs as at September 30, 2020 and total revenue (before consolidation adjustments) of Rs. 12,826.18 Lakhs and Rs, 17,489.93 Lakhs and total profit after tax(before consolidation adjustments) of Rs. 1,450.38 Lakhs and Rs. 1,537.38 Lakhs, total comprehensive income (before consolidation adjustments) of Rs. Nil and Rs. Nil for the quarter ended September 30,2020 and for the period from April L, 2020 lo September 30, 2O2O respectively considered in the standalone unaudited interim results. The interim financial information of these joint operations have been reviewed by the other auditors whose reports have been furnished to us by the Management of the Company. and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above

We did not review the interim financial information of 10 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total assets (before consolidation adjustments) of Rs. 1,60,363.78 Lakhs as at September 30,2020 and total revenues (before consolidation adjustments) of Rs.26,631.55 Lakhs Rs 48,645.53 lakhs, total net profit after tax (before consolidation adjustments) of Rs.645.33 Lakhs and Rs. 1,100.27 lakhs, total comprehensive income (before consolidation adjustments) of Rs. 645.20 Lakhs and Rs. 1,100.14 Lakhs for the quarter ended September 30,2020 and for the period from April 1. 2020 to September 30, 2020 respectively, and net cash outflow Rs. 622.38 Lakhs as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group's share of loss of Rs.108.33 Lakhs and Rs. 103.56 lakhs, total comprehensive loss (before consolidation adjustments) of Rs. 127.86 Lakhs and Rs.138.36 lakhs for the Quarter ended September 30, 2020 and for the period from April 1. 2020 to September 30, 2020, respectively considered in the consolidated unaudited financial results, in respect of 2 Associates whose interim financial information have not been reviewed by us. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

1. We did not review the interim financial information of 4 joint operations included in the standalone unaudited interim financial information reflect total assets (before consolidation adjustments) of Rs.1,962.44 Lakhs as at September 30, 2O2O and total revenue (before consolidation adjustments) of Rs. 19.81 Lakhs and Rs. 19.81 Lakhs. total Loss after tax (before consolidation adjustments) Rs. 271.01 Lakhs and Rs.271.01 Lakhs, total comprehensive income (before consolidation adjustments) of Rs. Nil and Rs. Nil for the quarter ended September 30,2020, and for the period from April 1, 2020 to September 30, 2O2O, respectively considered in the standalone unaudited interim results. The interim financial information of these joint operations have not been reviewed by their auditors whose financial information have been furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on such interim financial information certified by the Ivlanagement of the Company. According to the information and explanations given to us by the Management, these interim financial information are not material to the Company.

K. P. RAO & CO. Continuation Sheet CHARTERED ACCOUNTANTS

1. The consolidated unaudited financial results also includes the Group's share of net profit after tax (before consolidation adjustments) is Rs.Nil and Rs. Nil and the total comprehensive income (net) (before consolidation adjustments) is Rs.Nil and Rs. Nil for the Quarter ended September 30, 2020 and for the period from April L, 2O2O to September 30, 2020 respectively considered in the consolidated unaudited financial results , in respect of one joint venture, based on their interim financial information which have not been reviewed by their respective auditors and whose interim financial information has been furnished to us by the Parent's Management. According to the information and explanations given to us by the Parent's Management. these interim financial information are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Parent's Management,

K. . Rao & Co., Cha untants Firm's Registration N 135S

Mohan R Lavi Partner

Place: Bangalore Date: 12th November 2020.

Membership Number: 029340 UDIN: 200293404tutuqFw5093

K. P. RAO & CO. C] HARTERED ACCOUNTANTS

ATTACHMENT A

5l No.	Name of the Entity
	Subsidiaries- Reviewed by other Auditors
1	KNR Agrotech and Beverages Pvt Ltd
2	KNR Infrastructure Proiects Pvt Ltd
3	KN R Enerqy Ltd
4	KNR Walayar Tollways Pvt Ltd ( till 25th September 2020)
5	KNRC Holdinqs and Investment Pvt Ltd
6	KNR Sriranqam Infra Pvt Ltd
7	KNR Tirumala Infra Pvt Ltd
8	KNR ShankaramDet Proiect Pvt Ltd
9	KNR Somwarpet Infra Project Pvt Ltd
10	KNR Palani Infra Pvt Ltd
	Associates- Reviewed by other Auditors
1	Patel KNR Heavy Infrastructures Ltd
2	Patel KNR Infrastructu res Ltd
	Joint operations - Reviewed by other Auditors
1	PATCI KNR - JV
2	KNR BPL - JV
3	KNR Patel - JV
4	KNR JKM - JV
5	KNR PBEPL - JV
6	KNR SEW GVR . JV
7	BSCPL KNRCL . JV
8	KNR HES ACPL - JV
9	PSK KNR GVR . JV
10	KNR SLMI . JV
	Joint Operations- not reviewed by other Auditors
1	KNR SLEC - JV
7	KNR GVR . JV
3	KNR JKM Kama a - JV
4	KNR TBPCL - JV
	Joint Venture- Not reviewed by other Auditor
1	SEL KNR - JV

IGALOHE AC