Dolat Capital's research report on KEI Industries
KEI numbers came ahead of estimates on all parameters. Product mix is now skewed towards the high growth potential segments leading to strong revenue and profitability growth. Volume growth for Q4FY18 was 17% and for the full year FY 18 was 18%. Brand development and distribution expansion will propel growth in retail segment. The strong macro demand in the cable related EPC segment is a game changer. Increase in proportion of the retail segment will keep working capital in control.
Outlook
The improving balance sheet is a result of the strong macro demand and getting the product mix right. We reiterate accumulate rating with a target price of ` 485.
For all recommendations report, click here
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