KSH International Limited has informed the Exchange about Transcript of Earnings Conference Call held on 06th January, 2026.
KSHINTL · price
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Awaiting price reaction for this filing.
KSH International, a 45-year-old magnet winding wire manufacturer and the largest exporter from India, reported record Q2 FY26 results with revenue of INR712 crores (up 50.7% YoY), EBITDA of INR46.1 crores (up 74.2% YoY), and PAT of INR29.6 crores (up 128.9% YoY). EBITDA per ton jumped 42.1% to INR65,500/MT, driven by a richer mix toward higher-voltage (765 kV, HVDC) transformers, exports (29.5% of revenue), and better fixed-cost absorption. The company has already deployed INR225.9 crores of IPO proceeds toward debt repayment out of the planned INR226 crores, while the remaining proceeds are funding Supa and Chakan capacity expansion (Phase II to lift total capacity from 41,045 MT to 59,045 MT by FY27). Management highlighted being the only Indian firm qualified to supply HVDC 400 kV transformers, with an initial BHEL order for 11 HVDC transformers and exclusive HPW licensing for PEEK wires targeting EV traction motors from FY28 onward.
Strong Q2 beat, debt reduction already completed, and visible capacity expansion position KSH well to capture the structural T&D and EV demand cycle; near-term stock sentiment should be supported by sustained EBITDA per ton improvement, the HVDC order win, and reduced interest costs, though working capital remains elevated (~75 days) and is a key area to monitor.