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Buy KEI Industries: target of Rs 909: Sharekhan

Sharekhan is bullish on KEI Industries has recommended buy rating on the stock with a target price of Rs 909 in its research report dated August 02, 2021.

August 10, 2021 / 08:55 PM IST
 
 
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Sharekhan's research report on KEI Industries


KEI reported better than expected performance for Q1FY22 led by strong growth in cables and stainless steel wire segment. Low EPC sales mix leads to lower working capital needs. Management retains FY2022 revenue growth of 18-20% with sustainable margins of 11% and a similar range in revenues and margins in consecutive years. Focus on expanding retail franchise and EHV business while EPC business to be scaled down.



Outlook


We retain Buy rating KEI Industries Limited (KEI) with a revised PT of Rs. 909, given its positive outlook going ahead and reasonable valuation.

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first published: Aug 10, 2021 08:55 pm

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