KEI Industries Ltd. – Constant Performer
KEI Industries Restricted is without doubt one of the main producers of wires and cables (W&C) and among the many prime three organized gamers within the Indian W&C business. Included in 1968, as a partnership agency, underneath the identify 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 prospects, and 5000+ Workers (together with contracts). The corporate operates in a large geography with exports to 50+ nations on this planet.
Valuation:
KEI has reworked right into a midsized cables and EPC firm prior to now decade. From volatility in margins given in its modest scale earlier, it has moved to a secure base and is in the suitable enterprise progress 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 advocate a BUY score within the inventory with a goal worth (TP) of Rs.1860, 30x FY24E EPS.
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