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Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy KEI Industries; target of Rs 540 : Sharekhan

Sharekhan is bullish on KEI Industries has recommended buy rating on the stock with a target price of Rs 540 in its research report dated December 15, 2020.

December 16, 2020 / 12:11 PM IST
 
 
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Sharekhan's research report on KEI Industries


The management reiterated its revenue growth guidance along with stable OPM for FY2021 and expects revenue growth of 18-20% for FY22 led by the retail and EHV segments. Industry-leading growth to be led by ongoing market consolidation. Capacity expansion to generate 5x-6x revenues of capex incurred. The working capital cycle expected to normalise by year-end as payments are getting back on track; changing revenue mix (lower EPC) would generate better cash/returns over the medium term.


Outlook


We retain a Buy rating on KEI with a revised PT of Rs. 540 given attractive valuation and positive outlook going ahead.


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.

Broker Research
first published: Dec 16, 2020 12:11 pm

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