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Prabhudas Lilladher Report
We are positive on KEI Industries Ltd. given-
growing demand for cables and wires arising from Infra, industrial, railways, solar and housing construction activity and
sustained momentum in dealer network sales (38% of sales; up 80 basis points QoQ).
With strong demand outlook (Rs 30.2 billion order book) and stabilising copper prices, KEI Industries’ management remains confident of growing FY22 sales by minimum 20% (long term compound annual growth rate of 17%-18%) while maintaining 11% plus margins.
We believe the company is well placed to capture demand for wires and cables given-
wide product portfolio catering to various industries
amongst very few players having extra high voltage cable capabilities
focus on scaling up channel expansion (1,650 dealers) and
tapping into rising export opportunities.
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