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2025-04-12 10:24:09 am | Source: Motilal Oswal Financial Services Ltd
Neutral KEC International Ltd For Target Rs. 900 by Motilal Oswal Financial Services Ltd
Neutral KEC International Ltd For Target Rs. 900 by Motilal Oswal Financial Services Ltd

* We expect 11% YoY revenue growth, driven by a strong opening order book of INR374b.

* Key monitorables include order pipeline in both T&D and civil, execution ramp-up, and margin expansion.

* We expect the EBITDA margin to expand 190bp YoY/120bp QoQ as the impact of legacy and low-margin projects is over.

* We would monitor the payment cycle, debt levels, and NWC improvement.

 

 

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