Buy KEC International, target price Rs 506: ICICI Direct

ICICI Direct has buy call on KEC International with a target price of Rs 506. The current market price of KEC International is Rs 434.95.

KEC International Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 11176.92 Crore) operating in Power sector.

KEC International Ltd. key Products/Revenue Segments include Income from Eng.Construction Contracts, Cables, Scrap, Towers & Structurals, Sale of services, Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3326.03 Crore, down -22.26 % from last quarter Total Income of Rs 4278.17 Crore and up 30.86 % from last year same quarter Total Income of Rs 2541.71 Crore. Company reported net profit after tax of Rs 31.02 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.88 per cent stake in the company as of 30-Jun-2022, while FIIs owned 12.17 per cent, DIIs 26.46 per cent.