KEI Industries Ltd. – Constant Performer
KEI Industries Restricted is likely one of the main producers of wires and cables (W&C) and among the many high three organized gamers within the Indian W&C business. Included in 1968, as a partnership agency, underneath the title Krishna Electrical Industries, it was transformed right into a public restricted firm in 1992 and was listed on the inventory exchanges in 1995.
The corporate has an general business expertise of fifty+ years with 5 manufacturing vegetation, 1800+ sellers/distributors, 2000+ Institutional clients, and 5000+ Staff (together with contracts). The corporate operates in a large geography with exports to 50+ international locations on this planet.
Valuation:
KEI has reworked right into a midsized cables and EPC firm up to now decade. From volatility in margins given in its modest scale earlier, it has moved to a steady base and is in the fitting enterprise development segments. The corporate is a play on housing, capex, and in addition engineering exports in India. It has excessive return ratios, free money flows, and low debt to fairness. We suggest a BUY ranking within the inventory with a goal worth (TP) of Rs.1860, 30x FY24E EPS.
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