Buy KEI Industries: target of Rs 645: Sharekhan
Sharekhan is bullish on KEI Industries has recommended buy rating on the stock with a target price of Rs 645 in its research report dated March 23, 2021.
March 24, 2021 / 03:52 PM IST
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 in the ensuing years. 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.
We retain a Buy rating on KEI with a revised PT of Rs 645 given the positive outlook going ahead.
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