Arthneeti

KEI Industries Q2 FY27 Share Price & Earnings Call Analysis

₹3,770.00-1.59% today
Market cap
₹36,061 Cr
P/E
36.18
ROE
14.73%
PEG
1.49
Price to sales
2.93
Debt to equity
0.04
52W high / low
₹5,873 / ₹3,725
Sales growth (5Y)
22.95%
EBITDA margin
11.07%
Net profit margin
7.81%
Promoter holding
35.00%
Sales (last year)
₹12,343 Cr

Incorporated in 1968, KEI Industries Ltd manufactures wires and cables (W&C) like EHV cables, HT cables, LT cables, and sells them in India and overseas[1]

Guidance scorecard · Q2 FY27 call

What KEI Industries Ltd's management guided
and where it ranks in Industrial Products

#26of 100 in
Industrial Products
Revenue20–40%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookFlat

RevenueQ2 FY27 call

20–40%
  • KEI Industries targets a 20%+ CAGR sales/revenue growth over the next 4-5 years.
  • Operating profit growth is expected to be 3-4% higher than top-line growth, implying around 23-24% growth.
  • Profit after tax growth is anticipated to be 24-25%, slightly above operating profit growth due to reduced interest costs and operational efficiencies.
  • Volume growth is a key focus, especially given new capacities (Sanand plant ramp-up expected by FY28-29).
  • FY27 volume growth is estimated around 10%, considered conservative due to working capital constraints and price increases.
  • Despite price volatility (especially copper), KEI expects to maintain around 18-20% volume growth if copper prices stay stable.

2 more points from KEI Industries Ltd's call on revenue

Create a free account to keep reading this call

Full Q2 FY27 analysis

MarginsQ2 FY27 call

Up 0–2%

See what KEI Industries Ltd said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • KEI Industries plans a full-year capex of around INR 600 crores annually for the next 3 years to support 20% CAGR growth.
  • Maintenance capex is estimated at INR 100 crores to INR 150 crores per year.
  • Growth (or new) capex is projected at INR 450 crores to INR 500 crores over the next 4-5 years for capacity expansion.
  • Sanand plant Phase 1 has started; Phase 2 of EHV and HT cable at Sanand expected to commence by March 2027.
  • CWIP increased to ~INR 1,300 crores primarily driven by Sanand project.

2 more points from KEI Industries Ltd's call on capex

Create a free account to keep reading this call

Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what KEI Industries Ltd said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Flat
  • As of the call, KEI Industries had an export order book of approximately INR 990-1,000 crores.
  • This export order book is from diverse regions including the Middle East, Australia, and America, with nearly 50% from the U.S.
  • The entire export order book typically has a timeline of 3 to 4 months to be fulfilled, with orders constantly coming in and being executed monthly.
  • KEI expects export orders to continue robust growth, contributing to overall growth guidance of 25%+.

2 more points from KEI Industries Ltd's call on the order book

Create a free account to keep reading this call

Full Q2 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does KEI Industries Ltd rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

Sign up free to see every company in the sector ranking and track KEI Industries Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of KEI Industries Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

KEI Industries Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +37.08%37.08%37.08%37.06%35.01%35.01%35.01%35.00%35.00%35.00%35.00%35.00%
FIIs +30.95%31.00%30.75%31.11%29.75%25.83%26.59%25.82%25.49%27.27%27.32%26.14%
DIIs +16.05%16.30%16.56%16.01%20.72%23.51%25.63%26.71%27.27%25.83%25.90%26.26%
Public +15.91%15.60%15.60%15.82%14.52%15.65%12.77%12.47%12.25%11.88%11.76%12.59%
No. of Shareholders1,30,6921,29,0551,55,5141,65,9051,66,0671,97,8441,69,7801,59,9681,53,1381,58,5651,60,4971,74,384

Financials of KEI Industries Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,9452,0592,3302,0652,2842,4722,9152,5902,7262,9553,4763,1853,776
Expenses +1,7431,8452,0751,8462,0592,2262,6142,3322,4572,6353,0952,7903,400
Operating Profit202215255219225246301258269320382396377
OPM %10%10%11%11%10%10%10%10%10%11%11%12%10%
Other Income +91441313937404234432025
Interest8111714131414141417191817
Depreciation16151616161919202023282931
Profit before tax188202227203208221305263277315377369353
Tax %26%26%26%26%26%26%26%26%27%25%25%26%26%
Net Profit +140151168150155165227196204235284274262
EPS in Rs15.5416.7018.6716.6517.1517.2523.7120.4921.2924.5729.7428.6827.45

Financials of KEI Industries Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,0332,3512,6283,4664,2314,8884,1825,7276,9128,1049,73611,74813,393
Expenses +1,8392,1082,3603,1263,7904,3913,7215,1386,2067,2678,74510,51911,919
Operating Profit1942432693394414974615897068389911,2291,474
OPM %10%10%10%10%10%10%11%10%10%10%10%10%11%
Other Income +561097172015284972159121
Interest12112712411213612957403544566470
Depreciation252528323457585557617091110
Profit before tax53961262042783283665086427819371,2321,414
Tax %35%35%26%29%35%22%25%26%26%26%26%25%
Net Profit +3463941451812562733764775816969181,056
EPS in Rs4.438.1012.0418.4722.9228.6430.3341.7352.9364.3572.8896.07110.44
Dividend Payout %9%6%5%5%5%5%7%6%6%5%5%5%

Financials of KEI Industries Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital15151616161818181818191919
Reserves2883524465897621,4891,7602,1182,5713,1305,7676,6467,184
Borrowings +452498813842599367305355162166217253350
Other Liabilities +5885996227731,3871,3959301,0361,0191,3421,2322,0382,066
Total Liabilities1,3451,4641,8962,2202,7643,2693,0143,5273,7704,6567,2358,9569,619
Fixed Assets +2983284054074895545375315677709931,6861,772
CWIP4293233211717151213851,0021,272
Investments3333211212225
Other Assets +1,0391,1031,4851,7872,2422,7032,4692,9783,1873,7645,8546,2666,571
Total Assets1,3451,4641,8962,2202,7643,2693,0143,5273,7704,6567,2358,9569,619

Financials of KEI Industries Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +199186-29191623-13154229514610-32840
Cash from Investing Activity +-17-98-63-76-2751175-58-137-353-1,501-349
Cash from Financing Activity +-182-87229-69-38699-129-31-256-721,919-98
Net Cash Flow0113745-3897101139121186386392
Free Cash Flow18288-91126501-93131169416210-726-412
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit107%85%1%72%161%16%53%60%98%97%20%90%

Financials of KEI Industries Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days8588114108941021188973686757
Inventory Days10995114979510310396798487100
Days Payable11997110110139139996854633955
Cash Conversion Cycle75861199549661211179989115102
Working Capital Days243217281961948180718980
ROCE %28%23%23%29%28%21%24%26%27%21%20%

Guidance history

How KEI Industries Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →20–40%Up 0–2%Planned—Flat
Q1 FY27 call →20–40%FlatPlannedNone plannedRising
Q4 FY26 call →20–40%FlatPlannedNone planned—
Q3 FY26 call →20–40%Up 0–2%Planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

15out of 100

Momentum score · price trend

15 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−8.3%53%
Last 6 months−22.4%17%
Last 3 months−24.6%12%

The price is 35.8% below its all-time high of ₹5,873 (17 Aug 2026). Stocks more than 20% below their peak have their score halved, so 30 became 15.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For KEI Industries Ltd: 0.4 × 53 + 0.4 × 17 + 0.2 × 12 = 30, halved to 15 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What KEI Industries Ltd's management said in earlier quarters

Others in Industrial Products this season

  • Captain Polyplast Ltd (Q2 FY27)

    32.9% increase . Key results statement takeaways from Captain Polyplast Ltd's Q2 FY27 results statement — and how it ranks against sector peers.

  • Shyam Metalics & Energy Ltd (Q2 FY27)

    Q2 FY27 Revenue:** ₹5,960.2 crore, up 33.4% YoY (Page 38) . Key investor presentation takeaways from Shyam Metalics & Energy Ltd's Q2 FY27 investor presentation

  • Ratnaveer Precision Engineering Ltd (Q2 FY27)

    Q2 FY27 Revenue: ₹3,872.37 million . Key investor presentation takeaways from Ratnaveer Precision Engineering Ltd's Q2 FY27 investor presentation — and how it r

  • HEG Advanced Materials Ltd (Q2 FY27)

    For the quarter ended September 30, 2026, HEG Limited reported total revenue from operations of ₹1,520.64 crores. Key results statement takeaways from HEG Advan

Compare:vs Cummins Indiavs Polycab Indiavs Welspun Corp Ltd