Target Price: Rs.237
Q4FY20 revenue witnessed a marginal de-growth of 3% due to COVID disruption while FY20 revenue grew by ~9% YoY led by Railway and T&D segment. SAE tower revenue grew by 59% YoY in FY20 and its plants in Brazil and Mexico were operational during the lockdown as these were considered as essential services. Strong order book of Rs 24,000 cr plus (including L1) and ramp-up in execution in railway and civil segment will support growth. Given an attractive valuation post recent correction, we retain BUY rating on the stock with a revised target price of Rs. 237, based on a P/E of 9x on FY22E EPS.
Shares of KEC INTERNATIONAL LTD. was last trading in BSE at Rs.207.35 as compared to the previous close of Rs. 196.7. The total number of shares traded during the day was 63513 in over 1975 trades.
The stock hit an intraday high of Rs. 208.8 and intraday low of 198.4. The net turnover during the day was Rs. 13065568.