External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Robust order book: As of 31st Mar’25, the company's order book stands at Rs 33,398 Cr.</li><li>This, combined with an order inflow of Rs 24,689 Cr, provides strong revenue growth visibility for the next 18-24 months.</li><li>Additionally, the company holds the L1 position in projects valued at over Rs 4,500 Cr, primarily in the T&amp;D business. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust order book: As of 31st Mar’25, the company's order book stands at Rs 33,398 Cr.This, combined with an order inflow of Rs 24,689 Cr, provides strong revenue growth visibility for the next 18-24 months.Additionally, the company holds the L1 position in projects valued at over Rs 4,500 Cr, primarily in the T&amp;D business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KEC International Ltd - T&D Business Strengthens; Order Book Visibility Supports Forward Growth

<ul><li>KEC International is a global infrastructure EPC major with a presence across diverse verticals, including Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil &amp; Gas Pipelines, and Cables.</li><li>The company is currently executing infrastructure projects in over 30 countries and has a footprint in more than 110 countries, encompassing EPC projects as well as the supply of towers and cables.</li><li>Robust Order Book: As of 31st Dec’24, the company's order book stands at Rs 37,440 Cr. This, combined with an order inflow of Rs 22,090 Cr, provides strong revenue growth visibility for the next 18-24 months.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KEC International is a global infrastructure EPC major with a presence across diverse verticals, including Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil &amp; Gas Pipelines, and Cables.The company is currently executing infrastructure projects in over 30 countries and has a footprint in more than 110 countries, encompassing EPC projects as well as the supply of towers and cables.Robust Order Book: As of 31st Dec’24, the company's order book stands at Rs 37,440 Cr. This, combined with an order inflow of Rs 22,090 Cr, provides strong revenue growth visibility for the next 18-24 months.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Punch: KEC International Ltd - 8 Th April, 2025

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We revise our EPS estimates by -8.3%/-5.2% factoring in slower margin recovery amid higher revenue mix of non-T&amp;D and upgrade the rating to ‘Accumulate’ from Hold due to recent sharp correction in the stock with a revised TP of Rs930 (Rs997 earlier).</li><li>KEC International (KEC) reported a revenue growth of 6.8% YoY, while EBITDA margin expanded by 85bps YoY to 7.0%.</li><li>The domestic T&amp;D opportunity pipeline remains strong, driven by increasing momentum in the power sector.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We revise our EPS estimates by -8.3%/-5.2% factoring in slower margin recovery amid higher revenue mix of non-T&amp;D and upgrade the rating to ‘Accumulate’ from Hold due to recent sharp correction in the stock with a revised TP of Rs930 (Rs997 earlier).KEC International (KEC) reported a revenue growth of 6.8% YoY, while EBITDA margin expanded by 85bps YoY to 7.0%.The domestic T&amp;D opportunity pipeline remains strong, driven by increasing momentum in the power sector.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KEC International (KECI IN) - In-Line Q3; Execution in Focus Amid Strong Inflows

<ul><li>Robust order book: As of 31st Dec’24, the company's order book stands at Rs 37,440 Cr.</li><li>This, combined with an order inflow of Rs 22,090 Cr, provides strong revenue growth visibility for the next 18-24 months.</li><li>Additionally, the company holds the L1 position in projects valued at over Rs 4,000 Cr, primarily in the T&amp;D business. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust order book: As of 31st Dec’24, the company's order book stands at Rs 37,440 Cr.This, combined with an order inflow of Rs 22,090 Cr, provides strong revenue growth visibility for the next 18-24 months.Additionally, the company holds the L1 position in projects valued at over Rs 4,000 Cr, primarily in the T&amp;D business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KEC International Ltd - Strong Traction in T&D Business

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Order book is at a record high of ~Rs. 42,500 crore (including L1 position of Rs 8412 crore), representing a 2.5x revenue potential on the base of FY24x revenues.</li><li>Revenue growth of 14% was led by T&amp;D segment (28%) which was compensated by non-T&amp;D segment (-3%).</li><li>Operating profits grew by 17%, while margins improved by 17bps to 6.3%. Margins recovery were slower due to execution of low margin legacy orders.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Order book is at a record high of ~Rs. 42,500 crore (including L1 position of Rs 8412 crore), representing a 2.5x revenue potential on the base of FY24x revenues.Revenue growth of 14% was led by T&amp;D segment (28%) which was compensated by non-T&amp;D segment (-3%).Operating profits grew by 17%, while margins improved by 17bps to 6.3%. Margins recovery were slower due to execution of low margin legacy orders.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KEC International Ltd - Strong Order Book to Lead Growth

India

KEC International is an Indian multinational company and a global Engineering, Procurement, and Construction (EPC) major. It specializes in power transmission and distribution, railways, civil, urban infrastructure, oil and gas pipelines, renewables, and cables. The company also manufactures electric power transmission towers and a range of power and special-purpose cables. KEC International is headquartered in Mumbai, India, and was founded on May 7, 1945.

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KEC International (KECI IN)

KEC International Ltd - T&D Business Strengthens; Order Book Visibility Supports Forward Growth

For FY26, the company has set a target of Rs 30,000 Cr in order inflow, out of which Rs 2,000 Cr has already been achieved, maintaining its growth...

Axis Direct

Axis Punch: KEC International Ltd - 8 Th April, 2025

As of 31st Dec’24, the company's order book stands at Rs 37,440 Cr. This, combined with an order inflow of Rs 22,090 Cr, provides strong revenue...

Axis Direct