BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
Given its approximately Rs 250 billion well-diversified (region, segment-wise) order book, strong bid pipeline with ability to bag orders despite tough times, proven execution track record and healthy balance sheet, we are positive on KEC International Ltd.
Its domestic transmission and distribution could see a minor hiccup in ordering, likely to be balanced by strong traction overseas.
We expect it to surprise in full-year execution due to its strong Q1 and ramp-up in inflow compared to peers.
We roll forward our estimates to FY23 and forecast 12%/17.3% growth in revenue/profit after tax.
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