Weekly Hidden Gem! 💎
KEC International Limited (#KEC)🛒CMP: ₹965.00
🎯Target Price: ₹1190
🟢Market Cap: ₹ 25,688.30 crore.
⏫Potential upside: +23% Upside
⭐ KEC International,
a leader in EPC across infrastructure sectors like power T&D, railways, and solar, has strategically shifted towards non-T&D businesses. This shift has boosted their portfolio, with non-T&D contributing 46% in H1FY25 (up from 13% in FY16).
Key Highlights🔸T&D Growth - Domestic T&D is expected to
grow 30-40% in FY25E, contributing to overall 20% T&D growth.
🔸Civil & Cables - Double-digit growth expected in civil; a new conductor unit will drive
34% YoY growth in cables (₹2,500 Cr revenue in FY26E).
Order Book & Pipeline🔸Orders won (FY25) - ₹20,661 Cr
🔸Unexecuted order book - ₹35,200 Cr
🔸Bidding pipeline - ₹1,50,000 Cr (target ₹25,000 Cr orders in FY25E).
Financial Projections🔸Revenue CAGR - 15.3% (FY24-FY27E)
🔸PAT CAGR - 56% (FY24-FY27E)
🔸With strong visibility and a solid growth outlook, we maintain a Buy rating with a target price of ₹1190.
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