Nuvama has reiterated its Buy rating on KEI Industries, assigning a target price of ₹4,350 per share. The revised target indicates an upside of about 9% from the current market price of ₹3,981.00.
The brokerage highlighted that the company’s Q1 performance was robust, with revenue, EBITDA, and PAT beating estimates by 6–13%. A significant contributor to the growth was the cables and wires (C&W) segment, which reported a 32% year-on-year revenue rise.
Notably, exports surged 121% YoY, underscoring KEI’s growing international footprint. Management aims for exports to contribute 17–18% of total revenue in the medium term, reflecting a focused strategy on global expansion.
Given its consistent execution, improving export mix, and strong quarterly performance, Nuvama remains positive on KEI’s near-to-medium-term growth prospects.
Disclaimer: The brokerage views expressed above are those of Nuvama. This article does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions.
