Materials| Industrials |Commodities

Rahul Jain

Over 20 years of sell-side research experience across Indian Metals & Mining, Cement, Industrials, and Commodities. Focused on fundamentals-driven analysis including earnings modeling, cost structures, and valuations using DCF and relative multiples. Global commodity cycles, supply-demand trends, and macro factors are integrated into sector calls. Research prioritizes inflection points from price, cost, and policy shifts, using a disciplined bottom-up approach supported by top-down macro screening.

Equity Bottom-Up

Kepco Engineering & Construction / Equity Bottom-Up

Kepco Engineering & Construction (052690 KS)

<ul>
<li>KEPCO E&amp;C is well-positioned to benefit from the global revival in nuclear power, with strong domestic visibility and growing international interest in its engineering capabilities. </li>
<li>Its proprietary APR1400 reactor platform anchors the business, supported by verticals in O&amp;M, decommissioning, and green energy EPC. </li>
<li>While earnings have grown sharply on margin gains, high valuations and project execution risks—particularly overseas—warrant careful monitoring.</li>
</ul>


KEPCO E&amp;C is well-positioned to benefit from the global revival in nuclear power, with strong domestic visibility and growing international interest in its engineering capabilities. 
Its proprietary APR1400 reactor platform anchors the business, supported by verticals in O&amp;M, decommissioning, and green energy EPC. 
While earnings have grown sharply on margin gains, high valuations and project execution risks—particularly overseas—warrant careful monitoring.


KEPCO E&C (052690.KQ) – Nuclear Tailwinds, Proprietary Edge, and Execution Challenges