KEC INTERNATIONAL LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 726.2 INR | -1.04% |
|
+4.20% | +23.24% |
| Apr. 18 | KEC International Limited Announces Management Cessations | CI |
| Apr. 18 | KEC International Limited Appoints Ganesh Srinivasan as President-T&D | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 77,062 | 47,690 | 105,625 | 97,424 | 117,322 | 186,685 | - | - |
| Enterprise Value (EV) 1 | 91,269 | 68,067 | 122,781 | 125,040 | 146,952 | 215,483 | 214,838 | 211,615 |
| P/E ratio | 15.5 x | 8.43 x | 19.1 x | 29.3 x | 66.6 x | 49.1 x | 24.4 x | 17.3 x |
| Yield | 0.9% | 1.83% | 0.97% | 1.06% | 0.66% | 0.49% | 0.65% | 0.81% |
| Capitalization / Revenue | 0.7 x | 0.4 x | 0.81 x | 0.71 x | 0.68 x | 0.94 x | 0.82 x | 0.73 x |
| EV / Revenue | 0.83 x | 0.57 x | 0.94 x | 0.91 x | 0.85 x | 1.08 x | 0.95 x | 0.83 x |
| EV / EBITDA | 7.94 x | 5.51 x | 10.8 x | 13.8 x | 17.7 x | 16.9 x | 12 x | 9.43 x |
| EV / FCF | 107 x | -57.2 x | 18.5 x | -29.3 x | 34.3 x | 32.5 x | 25.9 x | 21.8 x |
| FCF Yield | 0.93% | -1.75% | 5.41% | -3.41% | 2.92% | 3.08% | 3.87% | 4.58% |
| Price to Book | 3.16 x | 1.7 x | 3.14 x | 2.69 x | 3.11 x | 4.57 x | 3.92 x | 3.25 x |
| Nbr of stocks (in thousands) | 257,088 | 257,088 | 257,088 | 257,088 | 257,088 | 257,088 | - | - |
| Reference price 2 | 299.8 | 185.5 | 410.8 | 379.0 | 456.4 | 726.2 | 726.2 | 726.2 |
| Announcement Date | 5/8/19 | 5/29/20 | 5/11/21 | 5/3/22 | 5/3/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 110,005 | 119,654 | 131,142 | 137,423 | 172,817 | 199,350 | 226,672 | 255,845 |
| EBITDA 1 | 11,499 | 12,344 | 11,412 | 9,035 | 8,297 | 12,773 | 17,952 | 22,436 |
| EBIT 1 | 10,328 | 10,872 | 9,887 | 7,456 | 6,682 | 11,084 | 16,027 | 20,271 |
| Operating Margin | 9.39% | 9.09% | 7.54% | 5.43% | 3.87% | 5.56% | 7.07% | 7.92% |
| Earnings before Tax (EBT) 1 | 7,435 | 7,903 | 7,559 | 3,994 | 1,610 | 4,816 | 10,034 | 14,017 |
| Net income 1 | 4,958 | 5,655 | 5,527 | 3,321 | 1,760 | 3,766 | 7,650 | 10,781 |
| Net margin | 4.51% | 4.73% | 4.21% | 2.42% | 1.02% | 1.89% | 3.37% | 4.21% |
| EPS 2 | 19.28 | 22.00 | 21.50 | 12.92 | 6.850 | 14.79 | 29.76 | 41.95 |
| Free Cash Flow 1 | 853 | -1,190 | 6,645 | -4,268 | 4,284 | 6,628 | 8,310 | 9,700 |
| FCF margin | 0.78% | -0.99% | 5.07% | -3.11% | 2.48% | 3.32% | 3.67% | 3.79% |
| FCF Conversion (EBITDA) | 7.42% | - | 58.23% | - | 51.64% | 51.89% | 46.29% | 43.23% |
| FCF Conversion (Net income) | 17.21% | - | 120.22% | - | 243.39% | 175.97% | 108.63% | 89.97% |
| Dividend per Share 2 | 2.700 | 3.400 | 4.000 | 4.000 | 3.000 | 3.570 | 4.725 | 5.873 |
| Announcement Date | 5/8/19 | 5/29/20 | 5/11/21 | 5/3/22 | 5/3/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 52,213 | 32,892 | 43,605 | 25,400 | 35,875 | 33,400 | 42,748 | 33,181 | 40,640 | 43,746 | 55,250 | 42,436 | 46,628 | 49,498 | 61,341 |
| EBITDA 1 | - | 2,987 | 3,546 | 1,599 | 2,530 | 2,390 | 2,517 | 1,684 | 1,780 | 1,999 | 2,835 | 2,444 | 2,869 | 3,402 | 4,254 |
| EBIT 1 | - | 2,607 | 3,165 | 1,217 | 2,144 | 1,997 | 2,098 | 1,291 | 1,381 | 1,590 | 2,420 | 2,026 | 2,455 | 3,074 | 4,293 |
| Operating Margin | - | 7.93% | 7.26% | 4.79% | 5.98% | 5.98% | 4.91% | 3.89% | 3.4% | 3.64% | 4.38% | 4.77% | 5.27% | 6.21% | 7% |
| Earnings before Tax (EBT) 1 | - | 1,988 | 2,657 | 585.5 | 1,008 | 1,223 | 1,178 | 371.1 | 265.7 | 114.3 | 858.7 | 467 | 1,005 | 1,316 | 2,512 |
| Net income 1 | - | 1,451 | 1,943 | 461.4 | 802.9 | 936.1 | 1,120 | 310.2 | 552.4 | 176 | 721.7 | 423.3 | 737.6 | 1,020 | 1,700 |
| Net margin | - | 4.41% | 4.46% | 1.82% | 2.24% | 2.8% | 2.62% | 0.93% | 1.36% | 0.4% | 1.31% | 1% | 1.58% | 2.06% | 2.77% |
| EPS 2 | - | 5.640 | 7.560 | 1.790 | 3.120 | 3.640 | 4.360 | 1.210 | 2.150 | 0.6800 | 2.810 | 1.650 | 2.700 | 3.725 | 7.550 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/8/19 | 1/28/21 | 5/11/21 | 7/30/21 | 10/27/21 | 1/31/22 | 5/3/22 | 8/3/22 | 11/7/22 | 1/31/23 | 5/3/23 | 8/3/23 | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 14,206 | 20,377 | 17,157 | 27,616 | 29,630 | 28,799 | 28,154 | 24,930 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.235 x | 1.651 x | 1.503 x | 3.057 x | 3.571 x | 2.255 x | 1.568 x | 1.111 x |
| Free Cash Flow 1 | 853 | -1,190 | 6,645 | -4,269 | 4,284 | 6,628 | 8,310 | 9,700 |
| ROE (net income / shareholders' equity) | 21.9% | 21.6% | 18% | 9.52% | 4.76% | 9.99% | 17.3% | 20.8% |
| ROA (Net income/ Total Assets) | 4.38% | 4.6% | 4.11% | 2.19% | 1.01% | 1.6% | 2.7% | 3.5% |
| Assets 1 | 113,298 | 122,856 | 134,613 | 151,929 | 175,051 | 235,400 | 283,327 | 308,018 |
| Book Value Per Share 2 | 94.70 | 109.0 | 131.0 | 141.0 | 147.0 | 159.0 | 185.0 | 223.0 |
| Cash Flow per Share | 7.730 | 28.70 | 28.20 | - | - | - | - | - |
| Capex 1 | 1,134 | 2,065 | 1,801 | 1,431 | 1,783 | 2,160 | 1,922 | 2,099 |
| Capex / Sales | 1.03% | 1.73% | 1.37% | 1.04% | 1.03% | 1.08% | 0.85% | 0.82% |
| Announcement Date | 5/8/19 | 5/29/20 | 5/11/21 | 5/3/22 | 5/3/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
726.2
INR
Average target price
692.8
INR
Spread / Average Target
-4.59%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +23.24% | 2.24B | |
| -2.29% | 67.67B | |
| +2.13% | 59.37B | |
| +21.25% | 38.3B | |
| +11.23% | 30.73B | |
| +2.06% | 26.35B | |
| +22.89% | 22.01B | |
| +15.06% | 19.47B | |
| +22.99% | 17.6B | |
| +64.33% | 16.64B |
- Stock Market
- Equities
- KEC Stock
- Financials KEC International Limited
