BUY TO SELL STOCKS FOR SHORT TERM GAINS

20th MARCH 2016

KEC INTERNATIONAL BUY POTENTIAL UPSIDE: 17.5%

CURRENT MARKET PRICE: 120.00 TARGET PRICE: 141.00

BSE Code 532714 Market Cap (Crores) 3093

NSE Code KEC P/E 17.72

Book Value 56.43 EPS 6.79

Face Value 2 Dividend Yield % 0.75

STOCK RECOMMENDATION

15% @ 90 DAYS – MARCH 2016

- 2 - SARAL GYAN CAPITAL SERVICES

Comparative Chart (Last 1 Year) Returns: KEC International & Nifty:

Nifty: -11.3% KEC International: 48.4%

Stock Resistance and Support:

1st Resistance – 127 1st Support – 112 2nd Resistance – 135 2nd Support – 102

15% @ 90 DAYS – MARCH 2016

- 3 - SARAL GYAN CAPITAL SERVICES

Financials at a Glance: Standalone Quarterly Results of KEC International (Rs. In Crores)

Particulars Dec 2015 Sep 2015 Jun 2015 Mar 2015

Audited / UnAudited UnAudited UnAudited UnAudited UnAudited

Net Sales / Income 1,602.28 1,409.58 1,376.82 1,860.55

Other Operating Income 23.65 22.47 19.23 30

Total Income From Operations 1,625.93 1,432.05 1,396.05 1,890.55

Consumption of Raw Materials 763.79 756.05 666.55 950.36

Purchase of Traded Goods -- -- -- --

Increase/Decrease in Stocks -17.51 -2.75 -10.68 16.72

Employees Cost 101.16 100.99 99.05 87.98

Depreciation 18.49 17.34 18.29 17.75

Admin. And Selling Expenses -- -- -- --

R & D Expenses -- -- -- --

Provisions And Contingencies -- -- -- --

Exp. Capitalised -- -- -- --

Other Expenses 652.7 528 545.67 718.43

Other Income 34.84 72.31 1.87 36.41

P/L Before Int., Excpt. Items & Tax 142.14 104.73 79.04 135.72

Interest 55.39 58.89 58.1 60.02

P/L Before Exceptional Items & Tax 86.75 45.84 20.94 75.7

Exceptional Items -- -- -- --

P/L Before Tax 86.75 45.84 20.94 75.7

Tax 30.52 12.84 12.3 31.84

Prior Year Adjustments -- -- -- --

Net Profit/Loss 56.23 33 8.64 43.86

Equity Share Capital 51.42 51.42 51.42 51.42

Reserves -- -- -- --

EPS 2.19 1.28 0.34 1.71

No Of Shares with Public (Crores) 12.72 12.72 12.75 12.82

Public Share Holding (%) 49.46 49.46 49.59 49.87

15% @ 90 DAYS – MARCH 2016

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Basis of Recommendation:

i) Technical Analysis

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