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Buy KEI Industries: target of Rs 1300: Sharekhan

Sharekhan is bullish on KEI Industries has recommended buy rating on the stock with a target price of Rs 1300 in its research report dated May 10, 2022.

May 12, 2022 / 11:58 AM IST
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Sharekhan's research report on KEI Industries

KEI Industries reported strong numbers for Q4FY2022 led by ~20%/52% volume/value growth in cables and wires segment. However, higher input cost weighed on gross/operating margin which reduced by ~600/140 bps and came in at ~24%/9.6%. The management expects a 17-18% revenue CAGR in the next two-three years. It also eyes an operating margin of 10.5-11% and PAT margin of 6.5% on a sustainable basis. KEI’s focus continues to be on expanding retail businesses and exiting EPC business. De-bottlenecking in existing capacities and greenfield expansion in cables and wires at ~ Rs. 800 crore investment (first phase by 2024E) would help sustain its high-growth trajectory.


We retain Buy rating on KEI with an unchanged PT of Rs. 1300, factoring in promising growth outlook and compelling valuation.


For all recommendations report, click here

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first published: May 12, 2022 11:58 am
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