KEC International Q4 Review - Good Show In Challenging Environment: Dolat Capital
Power Cables of KEC International Ltd.(Image: Company website)

KEC International Q4 Review - Good Show In Challenging Environment: Dolat Capital

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.

Dolat Capital Report

KEC International Ltd. reported a strong revenue growth of 18.8% YoY at Rs 43.6 billion.

Ebitda declined by 4.4% to Rs 3.5 billion with margin contracting by 197 basis points at 8.1% mainly due to increase in raw material cost.

Interest as % of revenue stood at 1.4%.

Adjusted profit after tax grew marginally by 0.7%YoY at Rs 1.9 billion.

We expect Ebitda/ earnings per share compound annual growth rate of 15%/20% over FY21-FY23E led by incremental growth from non-transmission and distribution business (especially railways and civil), and improved sales mix from SAE.

We pencil in order inflows of Rs 142 billion in FY22E primarily driven by non-transmission and distribution.

Click on the attachment to read the full report:

Dolat Capital KEC International Q4FY21 Result Update.pdf


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