Sharekhan's research report on KEI Industries
We interacted with KEI Industries Limited (KEI) and came out confident on the company’s capability to gain market share in wires, strengthen leadership in EHV, LT and HT cables through capacity expansion, and focus on expanding its retail business. Management has maintained 17-18% revenue CAGR target over the next two-three years. Management expects OPM to be at ~10.5% in FY2023 and, thereafter, move up to 11%. Healthy balance sheet with net cash position, improving working capital cycle, and strong return ratios give us further comfort.
We retain our Buy rating on KEI with a revised PT of Rs. 1,765, factoring in KEI’s formidable position in the W&C, which would help it capture robust demand in institutional and retail segments.
At 17:30 KEI Industries was quoting at Rs 1,497.10, down Rs 29.20, or 1.91 percent.
It has touched an intraday high of Rs 1,536.55 and an intraday low of Rs 1,464.90.
It was trading with volumes of 29,342 shares, compared to its thirty day average of 22,926 shares, an increase of 27.99 percent.
In the previous trading session, the share closed up 0.43 percent or Rs 6.60 at Rs 1,526.30.
The share touched its 52-week high Rs 1,611.00 and 52-week low Rs 801.55 on 13 September, 2022 and 25 October, 2021, respectively.
Currently, it is trading 6.59 percent below its 52-week high and 87.74 percent above its 52-week low.
Market capitalisation stands at Rs 13,502.71 crore.
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