KEI Industries Limited has informed the Exchange about Transcript
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KEI Industries reported strong Q1 FY26 results with net sales of Rs. 2,590.32 crores (up 25.44%), EBITDA of Rs. 297.62 crores (up 28%), and PAT of Rs. 195.75 crores (up 30.28%). EBITDA margin expanded to 11.49% from 11.25% YoY. Wire and cable segment grew 32%, EHV cable sales jumped 47% to Rs. 116 crores, and exports surged 61% led by cables (up 122%). Order book stands at Rs. 3,921 crores. Management guided for 18-19% revenue growth in FY26 with EBITDA margin target of 10.5-11%, and aims for 20%+ growth from FY27 once Sanand plant (Rs. 1,900-2,000 crore capex) starts Phase 1 operations from September 2025 and full commissioning by H1 FY27. The QIP funds of Rs. 1,106 crores remain, and net cash position is Rs. 1,048 crores. Export contribution targeted to rise to 17-20% of sales in 2-3 years.
Strong quarter with broad-based growth across segments, expanding margins, robust order book, and a clear capacity expansion roadmap. The Sanand plant ramp-up from Q3 FY26 and targeted 20%+ growth thereafter should support earnings momentum. Near-term stock reaction likely positive given the beat on growth and margin trajectory, though full margin benefits from Sanand will be back-ended.