KEC International - (CMP/TP: Rs. 57/Rs. 62) (Rating: Accumulate) - Angel Broking

For 3QFY2014, KEC International (KEC) is expected to register a double digit top-line growth of 14.1% yoy to Rs. 2,050cr on the back of strong execution of its robust order book. On the EBITDA front, the company's margin is expected to expand by 64bp yoy to 6.4%. Consequently, we expect PAT to grow by 21.5% yoy to Rs. 36cr in spite of elevated interest costs. Wee recommend Accumulate on the stock with a target price of Rs. 62.

Source : Equity Bulls

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