KEC Worldwide Ltd., integrated within the 12 months 2005, is a Mid Cap firm (having a market cap of Rs 11311.89 Crore) working in Energy sector.
KEC Worldwide Ltd. key Merchandise/Income Segments embody Revenue from Eng.Building Contracts, Cables, Scrap, Towers & Structurals, Sale of providers, Different Working Income for the 12 months ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the corporate reported a Consolidated Whole Revenue of Rs 3326.03 Crore, down -22.26 % from final quarter Whole Revenue of Rs 4278.17 Crore and up 30.86 % from final 12 months similar quarter Whole Revenue of Rs 2541.71 Crore. Firm reported internet revenue after tax of Rs 31.02 Crore in newest quarter.
Funding Rationale
KEC reported a blended quarter, with income at INR 33.2bn, pushed by non-T&D segments. EBITDA margin, at 5.1%, was affected, primarily by losses in SAE (INR 0.7/1bn EBIDTA/PBT loss), and better freight prices (+INR 0.4bn). With Q1FY23 order influx (OI) of INR 34.7bn (vs. INR 200bn steering for FY23 i.e. ~17.4%) and L1 on INR 80bn, the order guide (OB) stands at INR 317bn (~2.3x FY22 income). Then again, collections from Afghanistan are nonetheless stalled, with internet publicity rising to INR 2.6bn. The consolidated internet debt elevated to INR 60.8bn (vs. INR 47.7bn on the finish of Mar’22) with curiosity value for the quarter rising to three% of gross sales (vs. 2.2% in Q4FY22). NWC worsened additional to 148 days vs. 137 days within the earlier quarter. Given continued excessive debt construct up, elevated working capital and weak profitability, the brokerage downgrades KEC score from BUY to REDUCE, with a revised goal worth of INR 375/share (14x Mar- 24E EPS).
Promoter/FII Holdings
Promoters held 51.88 per cent stake within the firm as of 30-Jun-2022, whereas FIIs owned 12.17 per cent, DIIs 26.46 per cent.
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