Rs 280 to Rs 1,895: This midcap stock turned into a multibagger in three years

Shares of KEI Industries Ltd have rallied 577% in the last three years. The stock, which closed at Rs 280 on April 24, 2020 rose to a high of Rs 1895 on the BSE today. An amount of Rs 1 lakh invested in the shares of KEI Industries three years ago would have turned into Rs 6.76 lakh today. In comparison, Sensex has risen 90.42 per cent during the period. The KEI Industries stock opened lower at Rs 1890. The stock was trading 0.15% higher at Rs 1897 today against the previous close of Rs 1894.40 on BSE. Earlier, the stock hit an intraday high of Rs 1899.5, marginally lower than the 52-week high of Rs 1900 hit on April 26, 2023.

In terms of technicals, the relative strength index (RSI) of the stock stands at 73.9, signaling it's trading in the overbought zone. KEI Industries shares have a beta of 0.9, indicating low volatility in a year. KEI Industries shares are trading higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.  

The share has climbed 58.68% in a year and gained 29.29% this year. Total 0.12 lakh shares of the firm changed hands amounting to a turnover of Rs 2.19 crore on BSE. Market cap of the firm rose to Rs 17,091 crore on BSE.     

Eight promoters held 37.21 per cent stake in the firm and public shareholders owned 62.79 per cent for the quarter ended March 2023. Of these, 94,400 resident individuals public shareholders held 1.04 crore shares or 11.55% stake with capital up to Rs 2 lakh. Only six resident individuals with 1.40% stake held capital above Rs 2 lakh for the quarter ended March 2023 .     

In the December quarter of last fiscal, net profit climbed 27.04% to Rs 128.60 crore against Rs 101.23 crore during the quarter ended December 2021. Sales rose 14.10% to Rs 1784.32 crore in Q3 against Rs 1563 crore during the quarter ended December 2022.      

According to annual earnings for the fiscal ended March 2023, the firm reported a 39.50% rise in profit to Rs 376.5 crore against a profit of Rs 269.55 crore in the year ago period.  Loss for March 2020 fiscal stood at Rs 256.30 crore.   

Sales zoomed 37% to Rs 5726.55 crore in the last fiscal against Rs 4181.54 crore for the fiscal ended March 2021.  Sales for fiscal ended March 2020 stood at Rs 4,887.80 crore.     

About the Company     

 

KEI Industries is a wires and cables (W&C) manufacturer. The company's product portfolio includes extra high voltage cables, high voltage cables, low voltage cables, instrumentation cables, control cables, solar cables, house wires, single core/multicore flexible cables, thermocouple extension/compensating cables, rubber cables, fire survival/resistant cables, marine and offshore cables, winding wires and stainless-steel wires.  

 

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