KEC International Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 10283.53 Crore) operating in Power sector.
KEC International Ltd. key Products/Revenue Segments include Income from Eng.Construction Contracts, Cables, Towers & Structurals, Scrap, Sale of services, Other Operating Revenue for the year ending 31-Mar-2021.
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3345.06 Crore, down -6.84 % from last quarter Total Income of Rs 3590.75 Crore and up 1.58 % from last year same quarter Total Income of Rs 3293.14 Crore. Company reported net profit after tax of Rs 93.61 Crore in latest quarter.
The brokerage has cut FY23E/FY24E EPS by 8%/7%, factoring in 25/50bps cut in margin and 0-3% reduction in revenue. While inflows have been strong in FY22, the brokerage believe that higher commodity prices will impact margins in the medium term.
The brokerage has estimated EBITDAM of 8.5%/9.5% for FY23E/FY24E. Its FY23E/FY24E EPS stand at Rs26.3/Rs35.1. The stock trades at ~15x/11.4x FY23E/FY24E EPS. The average PE for the stock in the last 10 years has been ~15x one-year forward PE.
Promoters held 51.82 per cent stake in the company as of 31-Mar-2022, while FIIs owned 12.19 per cent, DIIs 26.39 per cent.
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