KEI Industries Limited has informed the Exchange about Transcript of Analysts/Investors Call pertaining to the Financial Results for the quarter and year ended on March 31, 2025.
KEI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
KEI Industries reported Q4 FY25 net sales of Rs. 2,914.8 crore, up 25.1% YoY, with EBITDA margin expanding to 11.61% (from 11.15%) and PAT rising 34.2% to Rs. 226 crore. For full year FY25, revenue grew 19.9% to Rs. 9,736 crore, EBITDA grew 19.9% to Rs. 1,062 crore at a steady 10.92% margin, and PAT rose 19.85% to Rs. 696 crore. Export sales crossed Rs. 1,267 crore with cable exports up 40%, while B2C distribution sales grew 42% in Q4 contributing 51% of sales. The company has a pending order book of Rs. 3,839 crore including Rs. 603 crore in EHV cables, Rs. 2,112 crore in domestic cables, and Rs. 701 crore in export orders. Management guided for 17-18% revenue growth in FY26 (as Sanand phase-1 ramps up), accelerating to 19-20% from FY27 onwards, with 0.5-1% EBITDA margin improvement expected from FY28 once Sanand achieves economies of scale. Margin guidance was held in the 10.5-11% range for FY26. The company has net cash of Rs. 1,491 crore (including Rs. 1,385 crore from QIP), with Rs. 1,300 crore of unutilized QIP funds earmarked for completing the Sanand project by end of FY26.
Strong quarterly beat with double-digit PAT growth, robust order book providing multi-year revenue visibility, and clear capacity-led growth roadmap should be positive for the stock. Margin expansion is back-ended (FY28) tied to Sanand ramp-up, so near-term margins will remain range-bound — investors should weigh execution risk at the new plant against the long-term growth story.