›Look who’s at the receiving end of steel price rise: This EPC player may languish for 6 months
Look who’s at the receiving end of steel price rise: This EPC player may languish for 6 months
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Look who’s at the receiving end of steel price rise: This EPC player may languish for 6 monthsBy
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Synopsis
Analysts said 20-25 per cent of the company’s order book was of fixed price in nature, and thus was impacted adversely due to the rise in commodity prices, especially steel.
Agencies
Analysts expect margins to remain depressed in the coming two quarters and so will be the stock in the near term.
Geojit has buy call on
KEC International with a target price of Rs 464. The current market price of KEC International Ltd. is Rs 399.85.
KEC International Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 10301.53 Crore) operating in Power sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4372.87 Crore, up 32.79 % from last quarter Total Income of Rs 3293.14 Crore and up 19.03 % from last year same quarter Total Income of Rs 3673.73 Crore. Company reported net profit after tax of Rs 194.30 Crore in latest quarter.
The brokerage maintains Buy rating owing to healthy order book & recovery in non-T&D business and value KEC at a P/E of 14x on FY23E EPS.
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KEC International, a global infrastructure EPC major, has secured new orders of Rs 1,514 crore across its various businesses.
The Transmission & Distribution (T&D) business secured orders of Rs. 326 crores for T&D projects in India and the Americas.
The Civil business has secured orders of Rs. 1,035 crores for the construction of elevated viaduct along with stations for a metro project and for mechanical & civil works in two cement plants.
The Cables business has secured orders of Rs. 153 crores for various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO, KEC International commented, The Metro order widens our presence in the Urban Infra sector. The tower supply orders in Americas, secured by our subsidiary SAE Towers, further strengthens our order book in that region.