Earnings Review
KEI Industries Q1 Profit After Tax up Year on Year, beats expectations; sales below view
This story was originally published at 19:48 IST on 3 August 2026
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--KEI Ind Apr-Jun net profit INR 2.74 bln
--Analysts saw KEI Ind Apr-Jun net profit at INR 2.47 bln
--KEI Ind Apr-Jun revenue INR 31.85 bln
--Analysts saw KEI Ind Apr-Jun revenue at INR 32.22 bln
--KEI Ind Apr-Jun net profit INR 2.74 bln vs INR 1.96 bln year ago
--KEI Ind Apr-Jun revenue INR 31.85 bln vs INR 25.90 bln year ago
--KEI Ind Apr-Jun cables, wires sales INR 30.88 bln vs INR 24.77 bln yr ago
--KEI Ind Apr-Jun EPC project sales INR 1.31 bln vs INR 994.05 mln yr ago
--KEI Ind Apr-Jun EBITDA INR 4.15 bln vs INR 2.98 bln year ago
--KEI Ind Apr-Jun EBITDA margin 13.04% vs 11.49% year ago
--KEI Ind Q1 domestic wire, cable sales INR 27.84 bln vs INR 21.53 bln yr ago
--KEI Ind Q1 wire, cable export INR 3.08 bln vs INR 3.32 bln yr ago
By Eshitva Prakash
MUMBAI – KEI Industries Ltd. reported a strong rise in its net profit for the June quarter, surpassing analysts' estimates. The company's sales for the first three months of financial year 2026-27(Apr-Mar) rose at the quickest pace in four quarters, but this growth was not enough to meet the view on the Street.
The wires and cables maker reported a net profit of INR 2.74 billion, up over 40% on year, and higher than the INR 2.47 billion figure indicated by an average of analyst estimates. In sequential terms, however, the company's net profit declined 3.6%. Barring the trailing quarter, the company has managed to report a bottom line growth of more than 30% for five straight quarters.
The company's revenue for the reporting quarter rose nearly 23% on year to INR 31.85 billion, lower than the Street's INR 32.22 billion estimate. Its other income for the period fell to INR 196 million from INR 396 million in the June quarter of FY26.
The company reported a near-20% rise in total expenses to INR 28.36 billion, mainly due to a sharp rise in cost of materials consumed, which rose over 44% to INR 29.87 billion. Costs classified under "other expenses" rose over 12% to INR 2.89 billion and employee-related expenses rose over 22% for the June quarter to INR 1.04 billion.
The company reported earnings before interest, tax, depreciation, and amortisation growth of over 39% on year to INR 4.15 billion in the June quarter, attributing this to better operating efficiency and a better product mix. This strong rise in operating profitability pushed its EBITDA margin higher by 155 basis points on year to 13.04%.
The company reported a near-25% increase in its revenue from cables and wires segment to INR 30.88 billion. Its revenue from engineering, procurement, and construction projects rose to INR 1.31 billion from INR 994.05 million in the year-ago quarter.
The company's revenue from the domestic wires and cables segment rose over 29% on year to INR 27.84 billion, led by sustained demand and operational improvements, according to the company's presentation for investors. Meanwhile, revenue from export of wires and cables declined 7.3% on year to INR 3.08 billion. The company expects exports to "grow substantially due to a strong order book position" and higher demand in key international markets.
The company earned INR 1.86 billion from extra high voltage cables in the June quarter, up nearly 48% on year. Its total wires and cables sales contributed to over 97% of its top line for the reporting quarter, an uptick from nearly 96% contribution to its revenue in the same quarter last year. As on Jun. 30, the company had an active working dealer count of 2,128.
The company released its earnings post- market hours Monday. Its shares closed 0.5% higher at INR 5,023.30 apiece on the National Stock Exchange. End
Edited by Deepshikha Bhardwaj
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