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Last Updated : Sep 18, 2018 01:43 PM IST | Source: Moneycontrol.com

Buy KEC International; target of Rs 400: Prabhudas Lilladher

Prabhudas Lilladher is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 400 in its research report dated August 04, 2018.

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Prabhudas Lilladher's research report on KEC International


KEC International (KEC) reported net profit of Rs868mn (up 38% YoY) which was lower than our estimate due to weak execution in core T&D segment and lower margins. Non T&D saw strong growth trajectory. Order Book at the end of Q1 stood at Rs182bn (up 34% YoY), while Order Inflows were at Rs27.5bn, (down 2% YoY). KEC is L1 in orders worth Rs32bn.


Outlook


The stock is trading at 13.9x FY20E earnings. We believe that a strong order book and improving margin profile will help KEC deliver 15% earnings CAGR over FY18‐20E. Maintain “BUY”.


For all recommendations report, click here


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First Published on Aug 8, 2018 05:47 pm
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