KEI Industries

KEI

NSE

BSE

SectorIndustrial Products

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Company insights, generated from the most recent coverage.

Q1 FY27 revenue and net profit dipped sequentially despite strong YoY growth, with export sales declining due to Iran conflict disruptions and US custom duty issues.
UltraTech Cement launched wires & cables plant ahead of schedule (10.98 lakh km capacity, ₹888 Cr capex) targeting 25% IRR and >20% ROCE, triggering sector-wide sell-off on fears of aggressive pricing from a well-capitalized entrant with distribution advantages.
Company is now debt-free with EBITDA margins expanding to 13.04% (from 11.49% YoY) and retail mix increasing to 59%, improving working capital efficiency.

The Quarter story

The two most recent quarterly results, compared side-by-side.

KEI Industries drives strong revenue and margin expansion with robust order inflows, though rising financial charges and EPC volatility warrant monitoring.

EBITDA margin improved from 11.49% in Q1 FY26 to 13.04% in Q1 FY27, reflecting stronger pricing power.

Financial charges increased from ₹14.50 Cr in Q1 FY26 to ₹18.81 Cr in Q4 FY26, pressuring net margins.

Net sales grew from ₹2,590 Cr in Q1 FY26 to ₹31,853 Cr in Q1 FY27, driven by volume expansion.

Total debt shifted from -₹1,048 Cr in Q1 FY26 to ₹2,039 Cr in Q1 FY27, signaling higher leverage.

Active dealers expanded from 2,094 in Q1 FY26 to 2,128 in Q1 FY27, widening distribution reach.

EPC export revenue fell from ₹14 Cr in Q1 FY26 to ₹4 Cr in Q4 FY26, highlighting project delays.

Acceptances climbed from ₹448 Cr in Q1 FY26 to ₹735 Cr in Q4 FY26, signaling robust order inflow.

HT revenue declined from ₹480 Cr in Q1 FY26 to ₹411 Cr in Q4 FY26, indicating cyclical project delays.

Dealer channel share rose from 51.18% in Q1 FY26 to 55.70% in Q4 FY26, confirming retail strength.

Wires and cables revenue contribution dropped from 44.77% in Q1 FY26 to 40.37% in Q4 FY26, as other units outpaced growth.

About the company

KEI Industries Limited is an Indian manufacturer of wire and cable solutions. Founded in 1968, the company operates through three segments: Retail, Institutional, and Exports. KEI produces a wide range of products including Low Tension, High Tension, and Extra High Voltage cables, as well as house wires, winding wires, and stainless steel wires. The company has five manufacturing facilities in India and exports to over 50 countries. KEI also provides Engineering, Procurement and Construction (EPC) solutions for power transmission and distribution systems. The company has a pan-India retail presence with 23 depots and over 1,900 dealers/distributors. KEI's products are tested to international standards, and its manufacturing facilities are certified for quality, environmental, and safety management systems.

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