Sharekhan's research report on KEI Industries
Q3FY2024 PAT, although in line with consensus estimates, posted a strong growth of 17% y-o-y led by strong grow-th in exports as well as B2C cables & wires (C&W) segment and a rise of 30 bps in margins. Management expects to generate a 16-17% revenue CAGR over next few years due to continuous capacity expansion by the company. Pick-up in government infrastructure spending, particularly in the power sector as well as expansion in the core sector’s capacity provides company with on ample growth opportunities given the company is able to scale up its capacities on time.
Outlook
We retain a Buy rating on KEI Industries Limited (KEI) with a revised PT of Rs. 3,800. We believe company is favourably placed for sustained strong growth supported by tailwinds from power sector.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
