Anand Rathi: KEI Industries’ Greater Focus On The B2C Segment To Drive Re-Rating
Cabled components for electronic switches sit in a box at a factory in Switzerland. (Photographer Stefan Wermuth/Bloomberg)

Anand Rathi: KEI Industries’ Greater Focus On The B2C Segment To Drive Re-Rating

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

KEI Industries Ltd.’s Q2 was operationally good. Retail and domestic cables recovered swiftly; weak exports were due to the high base (Dangote order).

The strong 11.4% Ebitda margin was led by the gross-margin expansion. The stretched working capital-cycle (lower payables, delayed payments from government projects) is likely to be normal in H2.

The declining orderbook (Rs 26 billion) is due to reduction in engineering, procurement, and construction as the company wants to focus more on retail.

Click on the attachment to read the full report:

Anand Rathi KEI Industries Result Update.pdf

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