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Informist, Friday, Jul. 31, 2026

MUMBAI – KEI Industries Ltd. is expected to report a modest rise in its net profit for the June quarter, supported by price hikes implemented in the cables and wires product segment to pass on higher aluminium and copper costs, along with steady sales growth. However, earnings are expected to decline sequentially due to a high base in the March quarter, according to analysts.

The company's standalone net profit for the June quarter is expected to rise over 26% on year but decline 13% from the March quarter to INR 2.47 billion, according to the average of estimates from seven brokerages. The highest estimate for net profit is INR 2.67 billion from Motilal Oswal Financial Services Ltd., and the lowest is INR 2.26 billion from Elara Securities (India) Pvt Ltd. 

The company's revenue for the June quarter is expected to rise over 24% on year but decline more than 7% on quarter to INR 32.22 billion, according to the average of estimates. The highest estimate for revenue is INR 33.26 billion from Nuvama Wealth Management Ltd., and the lowest is INR 30.53 billion from Elara Securities

For the March quarter, the company had reported a net profit of INR 2.84 billion, up 25.5% on year, on revenue of INR 34.76 billion, up 19% on year. 

KEI Industries is a major manufacturer of cables and wires with a wide product portfolio spread across high-, medium-, and low-voltage power cables, house wires, and stainless steel wires. The company is also forward integrated into engineering, procurement, and construction services for power, distribution, transmission and substation projects.

Brokerages expect the company to benefit from both steady volume growth and a sharp increase in raw material prices, as average copper and aluminium prices were up over 50% on year and more than 56% on year, respectively. Kotak Institutional Equities said pricing-led growth is expected across the sector, with volume growth improving sequentially for Polycab India Ltd. and RR Kabel Ltd., while KEI Industries' volumes are likely to remain broadly stable for the June quarter. 

Though price hikes are seen supporting the company's earnings for the reporting quarter, some brokerages cautioned that it may hit demand. "We believe high volatility in commodity prices may lead to destocking and impact demand in the near term," Motilal Oswal said, adding that copper and aluminium prices corrected by June-end. 

Elara Securities has the most conservative revenue growth expectation of 18% on year for KEI Industries, compared with expectations of 25-28% growth from Kotak Institutional Equities, Motilal Oswal, and PhillipCapital. 

The earnings before interest, tax, depreciation, and amortisation of KEI Industries are estimated at INR 3.47 billion, according to an average of estimates from six brokerages. The highest estimate for EBITDA is INR 3.70 billion from Motilal Oswal and the lowest is INR 3.11 billion from Elara.

KEI Industries will announce its June quarter results on Monday. Analysts will track the management's comments on volume growth, outlooks on margins amid volatile commodity prices, and demand trends.

On Thursday, the company's shares closed over 1% lower at INR 4,799.50 on the National Stock Exchange. The stock has fallen over 4% since the company announced its March quarter earnings on May 4. All eight brokerage reports on the company available with Informist have a "buy" recommendation on the stock with an average target price of INR 5,415, up nearly 13% from the current price.

Following are the June quarter earnings estimates, in INR billion, for KEI Industries from seven brokerages in descending order of the net profit estimate:

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Edited by Himanshi Gupta

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