Jun 06, 2008, 03.51 PM IST | Source: Moneycontrol.com

KEI Industries an outperformer: P Lilladher

Prabhudas Lilladher has maintained its outperformer rating on KEI Industries with a target price of Rs 82. KEI Industries’ current capacity consists of 37,000kms of LT cables, 3,000kms of HT cables. The company will add another 7,000kms of LT cables at its Bhiwadi plant by June.

Prabhudas Lilladher has maintained its outperformer rating on KEI Industries with a target price of Rs 82 in its June 4, 2008 research report. "KEI Industries’ current capacity consists of 37,000kms of LT cables, 3,000kms of HT cables. The company will add another 7,000kms of LT cables at its Bhiwadi plant by June. The Chopanki plant will have a capacity of 8,400kms of LT cables and 1,500kms of HT cables by September 2008. In all, the company will spend Rs 1.7 billion on the expansion plan."

"We expect earnings to grow at a CAGR of 47% over FY07-10 on the back of topline CAGR of 41.8%. At the ruling price of Rs 66, the stock trades at 4.6x FY09E and 3.3x FY10E earnings of Rs 11.8 and Rs 16.4. We maintain Outperformer on the stock with a target price of Rs 82, an upside of 50.3%," says Lilladher's research report.

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