KEI Industries Ltd Stock Analysis

BSE: 517569 | NSE: KEI | Cable | Mid Cap

BSE Share Price Jan 17, 18:01
1171.20 2.30 (0.20%)

DeciZen - Make an Informed Decision on KEI Industries

Overall Rating

1. Quality

2. Valuation

Overvalued
P/E P/S EV/EBITDA

3. Price Trend

10 Year X-Ray:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
KEI Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 0%0%0%15.4%18.3%16.3%16%20.9%21.8%15.4%-
Value Creation Index NANANA0.10.30.20.10.50.60.1-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 0002,0112,3512,6283,4664,2314,8884,1824,770
YoY Gr. Rt. %-NANANA16.9%11.8%31.9%22.1%15.5%-14.5%-
Adj EPS 0004.17.711.217.725.429.529.436.4
YoY Gr. Rt. %-NANANA88.5%45.9%58%43%16.3%-0.4%-
BVPS (₹) 00039.34758.476.498.1167196.6215.2
Adj Net Profit 00031.559.487.3139200264264328
Cash Flow from Ops. 000199186-28.8191623-13154-
Debt/CF from Ops. 0002.32.7-28.24.41-28.12-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales NA12.2%6.5%-14.5%
Adj EPS NA30.7%18.3%-0.4%
BVPS 033.13717.8
Share Price 52.6% 53.6% 48.9% 130.6%

Key Financial Parameters

Performance Ratio Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 00010.417.721.126.12923.116.117.7
Op. Profit Mgn % 000910.310.29.811.110.41111.1
Net Profit Mgn % 0001.62.53.344.75.46.36.9
Debt to Equity 0001.51.41.81.40.80.30.20
Working Cap Days 0000157169170165170207166
Cash Conv. Cycle 00009510711010511614896

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 18.31%

Sales growth is good in last 4 quarters at 13.45%

Return on Equity has declined versus last 3 years average to 17.70%

Sales growth has been subdued in last 3 years 6.46%

Latest Financials - KEI Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 36.4 36.4
TTM Sales (₹ Cr.) 4,770 4,770
BVPS (₹.) 215.2 215.2
Reserves (₹ Cr.) 1,921 1,921
P/BV 5.44 5.46
PE 32.18 32.29
From the Market
52 Week Low / High (₹) 450.00 / 1264.00
All Time Low / High (₹) 0.36 / 1264.00
Market Cap (₹ Cr.) 10,553
Equity (₹ Cr.) 18
Face Value (₹) 2
Industry PE 35.5

Management X-Ray:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About KEI Industries Ltd

KEI Industries Limited (KEIIL) was established in 1968 as a partnership firm under the name Krishna Electrical Industries, with prime business activity of manufacturing house wiring rubber cables. Today, it is grown into an empire offering holistic wires & cables solutions with a global presence. Headquartered in New Delhi (India), the company offers an extensive range of cabling solutions. KEI manufactures and markets Extra-High Voltage (EHV), Medium Voltage (MV) & Low Voltage (LV) power cables.

As an industry and market leader in India, and a preferred supplier for private and public sector clients in many parts of the world, the company is much more than just a cables and wires manufacturer and supplier. It is an end-to-end solutions provider, equipped with a product showcase that encompasses the complete range of cables and wires designed to meet the unique and niche needs of its diverse clients in Retail, Institutional (EHV + EPC) and Exports segments.

Business area of the company

KEI Industries is among India’s leading manufacturers and marketers of cables and wires, with a comprehensive product portfolio ranging from housing wires to Extra High Voltage (EHV) cables. It is one of the few manufacturers of EHV cables in India. Leveraging its in-house cable production, it has strategically forward integrated into the Engineering, Procurement and Construction (EPC) services for power and transmission projects.

Products & Solutions:

  • Extra High Voltage Cables
  • High Voltage Cables
  • Control Cables
  • House Wire
  • Winding Wires
  • Stainless Steel Wires
  • Thermocouple Extension/Compensating
  • Low Voltage Cables
  • Fire Survival / Resistant Cables
  • Single Core / Multicore Flexible Cables
  • Instrumentation Cables
  • Solar Cables
  • Marine & Offshore Cables
  • Rubber Cables

Certifications:

  • ISO 9001:2015
  • ISO 14001:2015
  • ISO 45001:2018
  • NABL
  • ACHILLES UVDB
  • CEOC
  • KEMA
  • NGCP
  • DNV-TAE00003U5
  • DNV-TAE00003U6
  • DNV-TAE00003U7
  • DNV-TAE00003U8

Awards and recognitions

  • 2016-17: The company was awarded the Super brand status, a testimony to its consistent ability to deliver quality products, for the fifth consecutive year
  • 2017-18: KEI was conferred with a Power Award (Second Prize) by Government of Karnataka Energy Department
  • 2017-18: KEI was conferred with a prestigious memento for successful completion of 33 kV U.G. cable layout, from Ranni Pernnad 33 kV Sub Station to Perumthenaruvi.
  • 2018-19: Awarded the prestigious Superbrand status in 2019 for exemplary performance achieved this esteemed recognition for the 7th time since 2011.

Milestones

  • 1968: KEI industries was incorporated as a partnership company. The same year company commenced manufacturing of Switchboard Cables for DOT.
  • 1985: The company started manufacturing of control, instrumentation and thermocouple cables
  • 1993: The company commenced manufacturing of PVC/XLPE Power cables up to 3.3 KV.
  • 1994: The company diversified its business activities by foraying into Stainless Steel drawings with pilot plant.
  • 1995: The company launched an IPO.
  • 1996: The company installed SSW plant at Bhiwadi.
  • 1997: It established another plant at Bhiwadi for manufacturing of LT PVC / XLPE Cables.
  • 2001: The company increased its manufacturing of rubber cables up to 11 KV.
  • 2002: The company established JFTC Plant located at Silvassa.
  • 2005: The company upgraded its JFTC Plant located at Silvassa to manufacture existing cable range.
  • 2006: The company expanded Bhiwadi unit to manufacture up to 33 kV HT XLPE Cables with Dry curing inert nitrogen gas and with triple extrusion (Single cross head) process.
  • 2006: The company introduced ERP Baan S/W system in the company.
  • 2007: The company upgraded its Bhiwadi Unit to manufacture HT power cable up to 132 kV and LT cable. The same year company set up 100% EOU at Chopanki.
  • 2009: Completed upgradation of HT cable capacity at Bhiwadi & Chopanki of up to 66 kV
  • 2010: Technical know how agreement with BRUGG KABEL A.G., Switzerland for EHV cables ranging from 66 kV to 220 kV
  • 2010: Commercial production of EHV cables ranging from 66 kV to 220 kV
  • 2010: Proud recipient of Business Superbrand Award
  • 2011: Certification of ISO 9001:2008, OHSAS 18001:2007, OHSAS 14001:2004
  • 2011: Receipt of EHV cable order from KPTCL worth Rs 75 crore
  • 2011: Successful redemption of FCCBs in November
  • 2012: Receipt of EHV Cable order of Rs 138 crore from UPRNL
  • 2012: Proud recipient of Consumer Superbrand Status
  • 2013-14: New office at Singapore & Nigeria
  • 2014-15: Strengthened Retail Network
  • 2015-16: EPC contract for Sub Station of 220 kV
  • 2015-16: Set up a subsidiary in Australia
  • 2016-17: EHV Cable of up to 400 kV commissioned
  • 2017-18: Executed order of `138 Crores of Uttar Pradesh Rajkiya Nirman Nigam Ltd.
  • 2018-19: Increased its distribution strength to 1,450 channel partners, up from 1,284 in the previous year.
  • 2019-20: The company added net 200 new dealers / distributors in the year, taking its channel partner strength to 1,650
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