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Hold KEI Industries; target of Rs 4800: Sharekhan

Sharekhan recommended Hold rating on KEI Industries with a target price of Rs 4800 in its research report dated October 16, 2024.

October 17, 2024 / 12:40 IST
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Sharekhan's research report on KEI Industries

KEI reported a 10% y-o-y growth in net earnings for Q2FY2025 led by a 17% y-o-y growth in revenues. Revenue growth was driven by a 21% growth in cables segment but compensated by 58% decline in EPC segment revenues. The management has maintained its guidance of 16-17% y-o-y revenue growth and operating margin of 11% in FY25. The company looks to raise Rs 2,000 crore via QIP majorly to fund the Sanand greenfield project.

Outlook

The company is expected to do well backed by tailwind sectors like Renewables, Transmission, Data center and thriving real estate and infrastructure sector. However, the stock is currently trading a high PE of 41x its FY27 earnings. Hence, we maintain our Hold rating on the stock with a revised PT of Rs. 4,800.

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.

KEI Industries - 17102024 - khan

Broker Research
first published: Oct 17, 2024 12:40 pm

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