KEI Industries Ltd. share price target

For 1QFY2019, KEI Industries (KEI) posted mixed set of results. Top-line was lower compared to our estimates, however, the company was able to maintain the bottom-line growth. Revenues grew by ~7% yoy (below our estimate) but company reported improvement on operating margin front. On the bottom-line front, KEI reported growth of ~17% yoy ..

For 4QFY2018, KEI Industries (KEI) posted good set of results, exceeding our expectations on both, top-line as well as bottom-line fronts. Revenues grew by ~39% yoy (above our estimate), however, the company reported flat operating margins. On the bottom-line front, KEI reported growth of ~40% yoy to `50cr on the back of strong top-line g..

Robust capex to support revenue: In FY18, KEI incurred a greenfield capex of INR 0.5bn at Pathredi, Rajasthan to add capacity in LT cables, which will be operational by end of May 2018. It plans to incur additional capex of INR0.6bn in FY19 to add new HT cable line other than ongoing capex. The same is likely to be operational by March 2019. LT cables will add INR3bn and HT cable will...

We recently met the management of KEI Industries (KIL) to understand the business model and outlook, going forward. KIL is one of the largest industrial cable manufacturers in India with institutional, dealer and export sales contribution of 55%, 31% and 14%, respectively, in FY17. Being largely in the B2B category, the product profile includes extra high voltage (EHV) cable, high and medium (HV/MV) voltage cables, low tension (LT) cables, speciality cables, winding/flexible and house wires and stainless steel wires, etc. Major clientele includes private & public...

Q3 marks strong revenue and PAT growth driven by increasing contribution from retail segment with high other income and low interest burden Strong revenue growth driven by wires and cables segment: For 3QFY18, KEI's revenue grew 24.1%/18.7% on YoY/QoQ basis to INR 8.9bn, driven by strong 19.8% YoY growth in cables segment. Within wires and cables segment, low tension grew at 23.3% on YoY basis, followed by high tension...

For 3QFY2018, KEI Industries (KEI) posted good set of results, exceeding our expectations on both, top-line as well as bottom-line fronts. Revenues grew by ~24% yoy (above our estimate), however, the company reported lower operating margins. On the bottom-line front, KEI reported growth of ~51% yoy to `39cr on the back of strong top-line ..

KEI has been focusing on expanding its cable capacity to address growth prospects in various segments. It has been concentrating on improving its B2C (Retail Segment) share and growing institutional segment. KEI is looking at entering newer markets in South and East India, apart from existing North and West. The institutional segment along with EPC services has immense...

For 3QFY2017, KEI Industries (KEI) posted good set of results, exceeding our expectations on both, top-line as well as bottom-line fronts. Revenues grew by ~28% yoy (above our estimate), however, the company reported flat operating margins. On the bottom-line front, KEI reported growth of ~83% yoy to Rs27cr on the back of strong top-line ..

KEI Industries (KEI) is a cable manufacturing company and also engaged in Engineering, Procurement and Construction (EPC) business. It offers high and low tension cables, control and instrumentation cables, house wires, stainless steel wires, and high-technology specialty cables. Its manufacturing facilities are located at Bhiwadi, Chopan..

KEI Industries is an established player in the manufacturing and marketing of EHV, MV and LV power cables segments, and has recently forayed into EPC business. It has a well-diversified product basket and business model across retail (domestic & exports), institutional, EHV segments, suitably balanced to address the demands of private and public sector organizations....