BSE Code: | NSE Code: | ISIN: | Sector:

NSE
322.30
Change Change %
-4.25 -1.30%

Updated:23 Oct, 2017, 15:57 PM IST

BSE
321.10
Change Change %
-5.90 -1.80%

Updated:23 Oct, 2017, 15:41 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
31-08-2017 Buy 262.00 322.00
N/A
Target Hit Long (1Y)
31-08-2018

Edelweiss maintains buy on KEI Industries

KEI Industries (KEI) posted a strong P/L in Q1FY18 led by strong performance in turnkey projects and above industry growth in cables. Key highlights: a) strong execution in turnkey projects (up 119% YoY) led to sharp 44/46% YoY top line/EBITDA spurt; b) sharp rise in copper price coupled with price hike aided 29% YoY surge in cables' top line/EBIT; and c) KEI's sustained focus on B2C business which now has 1,246 dealers (99 added in Q1) apart from target to prune long-term debt substantially. Our optimism on KEI is anchored by management's focus on profitability and its potential for re-rating as the company expands its consumer business. Maintain 'BUY' with TP of INR322 (target PE at 17x FY19E) given strong earnings/RoE.

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