Daily Brief India: KEI Industries, Latent View Analytics Ltd and more

• KEI Industries (KEII IN) is a vertically-integrated wires and cables manufacturer with a diversified portfolio spanning low, medium and extra-high-voltage cables, house wires, stainless steel wires and turnkey EPC solutions.
• It operates in three segments- Cable and wire (C&W), stainless steel wire and Engineering, Procurement and Construction (EPC) segment, selling products both domestically as well as in global markets.
• It sports a market capitalization of US$4.3bn and ADTV of ~US$11.4m. In this note, we will talk about the company’s past performance and future prospects.

• Strong Growth in a Burgeoning Industry: Latent View Analytics is a pure-play data analytics firm well-positioned to capitalize on the exponential growth of the data analytics market. The global data analytics market was valued at USD 74.26 billion in 2024 and is projected to reach USD 482.61 billion by 2033, growing at a CAGR of 23.12%. The company has demonstrated a solid track record of revenue growth, with a 3-year CAGR of 27.63%.
• Diversified Client Base and Expanding Verticals: The company serves a blue-chip client base across Technology, Consumer Packaged Goods (CPG), Financial Services, Retail, and Industrials. A key strategic focus is to reduce client concentration and expand into new verticals and geographies, such as the recent push into Latin America, particularly in the financial services sector.
• Premium Valuation Reflects High Growth Expectations: The company trades at a significant premium to its peers, with an EV/Sales multiple of 10.2x and a P/E ratio of 53.5x. This valuation reflects high expectations for future growth, which also presents a key risk if growth fails to meet market expectations.

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