Anand Rathi's research report on Kirloskar Oil Engines
KOEL made a good start to FY23. Q1 consolidated revenue/PAT grew ~45%/~154% y/y with a 14.5% EBITDA margin. With government focus on infrastructure and Atma Nirbhar, and strong end-user demand pick-up, we expect better growth in the medium to longer term. Further, its efforts regarding exports (aiming at 15-18%growth) and better B2C margins (higher demand and prices) would prove to be the additional kicker.
Outlook
Hence, strong demand across segments, a sharper focus on exports and efforts to enhance its presence augurs well for the company in coming years. The new leadership (MD, CEO-B2B, CEO-B2C) would bring a fresh vision and focus. We have a Buy rating on the stock, with a TP of Rs279 (13xFY24e EPS).
More Info
At 16:01 hrs Kirloskar Oil Engines was quoting at Rs 225.00, up Rs 0.90, or 0.40 percent.
It has touched an intraday high of Rs 227.75 and an intraday low of Rs 219.00.
It was trading with volumes of 61,195 shares, compared to its thirty day average of 179,030 shares, a decrease of -65.82 percent.
In the previous trading session, the share closed down 1.19 percent or Rs 2.70 at Rs 224.10.
The share touched its 52-week high Rs 238.55 and 52-week low Rs 122.60 on 19 October, 2021 and 07 March, 2022, respectively.
Currently, it is trading 5.68 percent below its 52-week high and 83.52 percent above its 52-week low.
Market capitalisation stands at Rs 3,254.23 crore.
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