Recent interaction with KEC International Limited (KEC) reaffirms that the company’s efforts to improve working capital cycle, bring down debt, and close the Brazil legacy orders are well on track. The company expects ~15% annual revenue growth in FY2023/FY2024 and expects margin to revert to 10% by FY2024. Year-to-date (YTD) order intake has surpassed Rs. 7,000 crore. The company aims Rs. 20,000 crore (+15% y-o-y) order inflows in FY2023E.
We retain Buy on KEC with an unchanged PT of Rs. 515, considering its diversified revenue stream, healthy order backlog, promising order prospects, and upside risk to margin.
At 17:30 KEC International was quoting at Rs 436.05, down Rs 11.75, or 2.62 percent.
It has touched an intraday high of Rs 457.40 and an intraday low of Rs 430.15.
It was trading with volumes of 45,730 shares, compared to its thirty day average of shares, a decrease of percent.
In the previous trading session, the share closed up 2.18 percent or Rs 9.55 at Rs 447.80.
The share touched its 52-week high Rs 550.00 and 52-week low Rs 345.15 on 26 October, 2021 and 12 May, 2022, respectively.
Currently, it is trading 20.72 percent below its 52-week high and 26.34 percent above its 52-week low.
Market capitalisation stands at Rs 11,210.34 crore.
We retain Buy on KEC with an unchanged PT of Rs. 515, considering its diversified revenue stream, healthy order backlog, promising order prospects, and upside risk to margin.
At 17:30 KEC International was quoting at Rs 436.05, down Rs 11.75, or 2.62 percent.
It has touched an intraday high of Rs 457.40 and an intraday low of Rs 430.15.
It was trading with volumes of 45,730 shares, compared to its thirty day average of shares, a decrease of percent.
In the previous trading session, the share closed up 2.18 percent or Rs 9.55 at Rs 447.80.
The share touched its 52-week high Rs 550.00 and 52-week low Rs 345.15 on 26 October, 2021 and 12 May, 2022, respectively.
Currently, it is trading 20.72 percent below its 52-week high and 26.34 percent above its 52-week low.
Market capitalisation stands at Rs 11,210.34 crore.
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