Overview
Beekay Steel Industries Ltd is a Public company incorporated on 28 March 1981. It is classified as Non government company and is registered at Registrar of Companies, Kolkata. Its authorized share capital is Rs. 230,000,000 and its paid up capital is Rs . 190,720,512. It is inolved in Manufacture of Basic Iron & Steel.
Beekay Steel Industries Ltd’s Corporate Identification Number is (CIN) L27106WB1981PLC033490 and its registration number is 33490. It focuses on Customer and Stake Holders satisfaction. Vision of Beekay steel is to acomplish long term goals. They consider environmental protection, occupational health and safety at work as important as providing quality products.
Outlooks and Triggers
- Beekay Steel Standalone June 2022 Net Sales at Rs 335.18 crore , up 19.2% Y o Y.
- Beekay Steel Consolidated March 2022 yearly Net Sales at Rs 1296 crore , up 48.28% Y o Y.
- Beekay Steels is at a point from where growth will be faster, more broadbased (hence de risked) and more profitable.
- The Company is engaged in a project to enhance the role of digitalisation . This represents not just an initiative to enhance operational efficiency.
- India Ratings and Research has maintained a ‘neutral outlook’ on the steel sector for FY 2022 23 due to high raw material inflation that would result in higher prices and reduction of volume and margin.
VALUATION AND VIEW
Beekay Steel reported robust June 2022 quarter sales with 19.22% rise and stable operating profits. Company’s annual EPS rose from 42.19(Mar’21) to 82.17(Mar’22) . With expansion plans in progress, gives long term visibility to the outlook of the company . With current PE of 5.62, Beekay Steel qualifies as an attractive investment bet .We recommend to buy the stock with price target of 805 and we may raise targets in future as per the performance of the company.
Disclaimer
This document is not meant for circulation. This document should not be reproduced or copied or made available to others. We will not treat recipients as customers by virtue of their receiving this report. The securities discussed in this report may not be suitable for all investors Investors must make their own investment decision based on their own investment objectives, goals and financial position and based on their own analysis. It is safe to assume that issuer of this research report may or may not be holding the securities discussed.
For enquiries, contact:
ROHIT MEHTA
SEBI REGISTERED RESEARCH ANALYST
INH100009080
Mobile No. 8194864567
