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KEC International: Expecting recovery in the second of current fiscal

Despite the recent run up, the KEC stock is reasonably valued, given the expected earnings recovery in the second half of 2021-22

November 02, 2021 / 10:18 AM IST
KEC International: Expecting recovery in the second of current fiscal

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

KEC International remains a good long-term story barring legacy issues and the  susceptibility of the business to input price pressure. Though the company has strong orders in hand, some of the issues such as the loss-making SAE business, arbitration in South Africa, and high customer dues from the Gulf region continue to impact its performance in certain quarters. (image) During the September quarter, a spike in raw material prices added to its woes. The company’s revenue grew by 10 percent...

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