KEI Industries Ltd. share price target

KEI has reported 1QFY17 result in line with our expectation which is mainly driven by Cable segment `4446 mn (2.8% y/y) coupled with Turnkey projects `1304mn (+34.3% y/y). Its dealer distribution business also performed well. Total order book currently stands at `29510 mn. Cable segment enjoy very high margins ~12.5%+ while margins of Turnkey project division...

up 16% to Rs 2.6bn and EPC division (15%) up 34% up to Rs 840mn (after adjusting intersegmentrevenue).EHVrevenue(6%)wasdown47%yoytoRs170mn. Gross margins increased 192bps, but higher manpower and SG&A; expenses capped OPMat10%(76bpsbelowourestimates)....

KEI has reported a 4QFY16 result in line with our expectation. Net sales for 4QFY16 grew by 0.3% y/y to `6363.4 mn. Operating margins grew by 190 bps YoY to 10.6%. PAT grew strongly by 62% y/y to `203 mn...

Upswing in Gross margins by 444bps due to benefits from lower raw material cost. Increase in manpower and SG&A; expenses capped OPM improvement to 195bps (10.6%).EBIDTAgrew23%yoytoRs675mn....

KEI has reported a Q3FY16 result in line with our expectation. expectation Net sales for Q3FY16 grew by 12.1% y/y to ` 5592.9 mn.. Operating margins grew by 50 bps YoY to...

bookdriven business leverages on its huge advantage backward integration through in housemanufacturingofEHV,HV,andLT(lowtension)cables.ItsEPCsegmenthasanorder backlog of Rs 8.6bn (December 2015). With strong demand, we expect it to receive more...

bookdriven business leverages on its huge advantage backward integration through in housemanufacturingofEHV,HV,andLT(lowtension)cables.ItsEPCsegmenthasanorder backlog of Rs 8.6bn (December 2015). With strong demand, we expect it to receive more...

KEI has reported 1HFY16 result in line with our expectation which is mainly driven by Cable segment `929 Cr (+20%v y/y) coupled with Turnkey projects ` 242 Cr ( +80% y/y) . EHV segment revenue stood at `32 Cr during this quarter. Its dealer distribution business also...

also performed well. Exports grew by a healthy 66% YoY. Its dealer distribution business also performed well. Total order er book currently stands at `1900 crore. EHV and EPC...

Extensive product portfolio and wide user industries: Its wide product portfolio encompasses the complete range of power cables, house wires, winding wires and stainless steel wires. It is also engaged in EPC business. It has a diversified client's base across various industries such as power, petrochemicals, steel, cement, oil & gas to name a few. With improving outlook of these sectors, we see cable industry particularly KEI to benefit. Moving up the value chain by entering EPC segment: With the necessary prequalification criteria for EHV cables, its turnkey EPC business is all set to scale new heights, which will add significantly to its profitability. The Company...