Cables · KEII
Cables - Power
from 5,500 today
KEI Industries reported an earnings beat with margin expansion on track in 1QFY27, supported by strong growth visibility and capacity expansion. We largely maintain our earnings estimates for FY27/FY28 and reiterate BUY with a target price of INR6,630.
KEII reported revenue growth of 23% YoY, led by strong W&C revenue growth and an EBITDA margin expansion driven by a better product mix, higher retail contribution, and operating leverage. We maintain our 'Accumulate' rating with a revised target price of INR 6,001, valuing the company at 40x FY28 earnings.
KEI's Q1FY27 performance was supported by a favourable revenue mix and operating leverage, driving a ~14% PAT beat. Maintain BUY with a TP of INR 5,800, set at 40x Mar’28E EPS.
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