KEI Industries Ltd

About [ edit ]

KEI Industries Ltd was established in 1968 as a partnership firm under the name Krishna Electrical Industries. #. It manufactures cables and wires, with a product portfolio ranging from housing wires to Extra High Voltage (EHV) cables, and further diversifying into the Engineering, Procurement, and Construction (EPC) services for power and transmission projects. #

Key Points [ edit ]
  • Market Cap 4,560 Cr.
  • Current Price 507
  • High / Low 563 / 267
  • Stock P/E 18.5
  • Book Value 181
  • Dividend Yield 0.39 %
  • ROCE 28.1 %
  • ROE 22.4 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 51.04% CAGR over last 5 years

Cons

  • Promoter holding has decreased over last 3 years: -5.92%

Peer comparison

Sector: Cables Industry: Cables - Power

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
886 996 1,088 1,258 1,081 1,234 1,314 1,259 745 1,037 1,153
800 895 971 1,123 968 1,112 1,175 1,137 673 919 1,025
Operating Profit 86 101 117 136 114 122 139 122 72 118 128
OPM % 10% 10% 11% 11% 11% 10% 11% 10% 10% 11% 11%
Other Income 1 1 1 4 5 4 5 2 9 4 5
Interest 29 30 35 42 33 36 33 28 17 15 13
Depreciation 8 8 9 9 15 14 14 14 15 14 15
Profit before tax 50 63 75 89 71 77 97 83 50 93 106
Tax % 36% 34% 36% 34% 36% 1% 25% 25% 27% 27% 25%
Net Profit 32 41 48 59 46 76 73 62 36 68 80
EPS in Rs 4.11 5.25 6.11 7.47 5.79 9.56 9.12 6.93 4.05 7.58 8.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,033 2,351 2,628 3,466 4,231 4,888 4,194
1,839 2,108 2,360 3,126 3,790 4,391 3,753
Operating Profit 194 243 269 339 441 497 441
OPM % 10% 10% 10% 10% 10% 10% 11%
Other Income 5 6 10 9 7 17 20
Interest 121 127 124 112 136 129 72
Depreciation 25 25 28 32 34 57 57
Profit before tax 53 96 126 204 278 328 331
Tax % 35% 35% 26% 29% 35% 22%
Net Profit 34 63 94 145 181 256 246
EPS in Rs 4.43 8.10 12.04 18.47 22.92 28.64 27.43
Dividend Payout % 9% 6% 5% 5% 5% 5%
Compounded Sales Growth
10 Years:%
5 Years:19%
3 Years:23%
TTM:-14%
Compounded Profit Growth
10 Years:%
5 Years:51%
3 Years:40%
TTM:-3%
Stock Price CAGR
10 Years:36%
5 Years:34%
3 Years:5%
1 Year:84%
Return on Equity
10 Years:%
5 Years:24%
3 Years:25%
Last Year:22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
15 15 16 16 16 18 18
Reserves 288 352 446 589 762 1,489 1,610
Borrowings 452 498 813 842 599 367 271
588 599 622 773 1,387 1,395 945
Total Liabilities 1,345 1,464 1,896 2,220 2,764 3,269 2,844
298 328 405 407 489 554 541
CWIP 4 29 3 23 32 11 8
Investments 3 3 3 3 2 1 1
1,039 1,103 1,485 1,787 2,242 2,703 2,295
Total Assets 1,345 1,464 1,896 2,220 2,764 3,269 2,844

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
199 186 -29 191 623 -13
-17 -98 -63 -76 -275 11
-182 -87 229 -69 -386 99
Net Cash Flow 0 1 137 45 -38 97

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 28% 23% 23% 29% 28%
Debtor Days 85 88 114 108 94 102
Inventory Turnover 3.86 3.54 4.03 4.37 4.01

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
46.26 45.93 45.93 45.93 45.93 45.59 45.59 40.50 40.50 40.34 40.34 40.34
9.90 10.84 9.16 10.84 12.09 12.49 12.41 15.30 15.25 13.97 16.33 18.49
12.81 13.91 16.60 19.10 18.99 19.38 18.58 24.71 23.43 24.05 23.45 24.14
31.03 29.32 28.32 24.14 23.00 22.54 23.41 19.49 20.82 21.64 19.88 17.03

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