KSH International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹6,263 Cr
- P/E
- 47.87
- ROE
- 20.13%
- PEG
- 0.78
- Price to sales
- 1.67
- Debt to equity
- 0.40
- 52W high / low
- ₹1,177 / ₹332
- Sales growth (5Y)
- 45.90%
- EBITDA margin
- 6.09%
- Net profit margin
- 3.58%
- Promoter holding
- 74.58%
- Sales (last year)
- ₹3,713 Cr
Incorporated in 1979, KSH International Limited is the third-largest manufacturer and the largest exporter of magnet winding wires in India.[1]
Guidance scorecard · Q1 FY27 call
What KSH International Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ1 FY27 call
20–40%- Volume growth of approximately 26% was achieved over the trailing 12 months and is expected to be sustained throughout FY27 due to full-year availability of Phase 1 capacity.
- Expansion at Supa plant with Phase 2 completion targeted by March 2027 aims to increase capacity from 43,445 tons towards 59,000 tons with potential for future additions.
- Increasing contribution from specialized winding wires, especially CTC products, is expected to support sustained or improved EBITDA per ton.
- Standard wire volumes are also growing robustly (30% YoY in Q1 FY27), driven by EVs, AC compressors, motors, and alternators markets.
- Export revenues are planned to be increased, aiming to return to around 40% of total revenue from the current ~27%.
2 more points from KSH International Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what KSH International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Phase two capacity expansion at Supa: Total project cost INR150-160 crores, largely incurred and expected to be operational by FY27 year-end.
- Additional capex for FY27 expected to be more than INR50 crores as part of phase two CWIP.
- Board authorized evaluation to acquire additional 10 acres in Supa MIDC for long-term expansion beyond current 59,000 MT capacity.
- Existing Supa plant has potential to add 10,000-12,000 MT capacity without extra land.
- No immediate plan for expansion beyond phase two, focus remains on utilization of 59,000 MT installed capacity.
2 more points from KSH International Ltd's call on capex
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FundraisingQ1 FY27 call
See what KSH International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The company operates on a make-to-order basis, primarily supplying OEMs through value addition contracts.
- Contracts typically involve commitments of quantities (e.g., 2000 to 2400 tons) with purchase orders released monthly in staggered manner.
- Customers generally have order books spanning 3 to 5 years, indicating strong visibility and demand.
- The business expects to maintain a steady pipeline with long-term agreements like the framework agreement with Hitachi in progress.
2 more points from KSH International Ltd's call on the order book
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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
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of KSH International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
KSH International Ltd
Shareholding breakup across reporting periods.
| Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|
| Promoters + | 74.58% | 74.58% | 74.58% | 74.58% |
| FIIs + | 3.72% | 5.05% | 5.71% | 6.60% |
| DIIs + | 13.09% | 13.89% | 10.87% | 7.74% |
| Public + | 8.61% | 6.47% | 8.84% | 11.08% |
| No. of Shareholders | 80,849 | 34,256 | 43,075 | 53,636 |
Financials of KSH International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 472 | 516 | 508 | 559 | 712 | 818 | 1,018 | 1,164 |
| Expenses + | 446 | 476 | 473 | 518 | 666 | 768 | 962 | 1,090 |
| Operating Profit | 26 | 40 | 35 | 40 | 46 | 49 | 56 | 74 |
| OPM % | 6% | 8% | 7% | 7% | 6% | 6% | 6% | 6% |
| Other Income + | 2 | 4 | 2 | 4 | 4 | 3 | 9 | 8 |
| Interest | 7 | 7 | 8 | 7 | 9 | 14 | 13 | 17 |
| Depreciation | 4 | 5 | 3 | 3 | 4 | 7 | 8 | 8 |
| Profit before tax | 17 | 33 | 26 | 34 | 37 | 31 | 45 | 57 |
| Tax % | 25% | 22% | 29% | 32% | 19% | 25% | 23% | 26% |
| Net Profit + | 13 | 26 | 18 | 23 | 30 | 23 | 35 | 42 |
| EPS in Rs | 2.27 | 4.51 | 3.25 | 3.99 | 5.21 | 3.44 | 5.10 | 6.23 |
Financials of KSH International Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales + | 470 | 871 | 1,049 | 1,383 | 1,928 | 3,107 | 3,712 |
| Expenses + | 445 | 820 | 998 | 1,311 | 1,805 | 2,914 | 3,486 |
| Operating Profit | 25 | 51 | 51 | 72 | 123 | 193 | 226 |
| OPM % | 5% | 6% | 4.9% | 5% | 6% | 6% | 6% |
| Other Income + | 6 | 5 | 7 | 8 | 10 | 20 | 24 |
| Interest | 7 | 10 | 15 | 18 | 29 | 45 | 54 |
| Depreciation | 6 | 6 | 8 | 11 | 14 | 22 | 27 |
| Profit before tax | 18 | 40 | 35 | 51 | 90 | 146 | 169 |
| Tax % | 20% | 27% | 25% | 26% | 25% | 25% | |
| Net Profit + | 15 | 29 | 27 | 37 | 68 | 110 | 130 |
| EPS in Rs | 2.55 | 5.13 | 4.67 | 6.55 | 11.97 | 16.25 | 19.98 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of KSH International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 28 | 34 |
| Reserves | 136 | 165 | 188 | 225 | 270 | 774 |
| Borrowings + | 86 | 146 | 129 | 214 | 366 | 321 |
| Other Liabilities + | 47 | 52 | 36 | 38 | 80 | 193 |
| Total Liabilities | 274 | 369 | 359 | 483 | 745 | 1,323 |
| Fixed Assets + | 87 | 88 | 107 | 140 | 133 | 313 |
| CWIP | 1 | 11 | 9 | 7 | 108 | 52 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 186 | 270 | 242 | 336 | 504 | 958 |
| Total Assets | 274 | 369 | 359 | 483 | 745 | 1,323 |
Financials of KSH International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 5 | -44 | 62 | -17 | -9 | -65 |
| Cash from Investing Activity + | -1 | -13 | -20 | -39 | -118 | -179 |
| Cash from Financing Activity + | 6 | 51 | -41 | 67 | 123 | 306 |
| Net Cash Flow | 10 | -6 | 2 | 11 | -5 | 62 |
| Free Cash Flow | 5 | -44 | 40 | -57 | -130 | -228 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 28% | -67% | 138% | -7% | 9% | -17% |
Financials of KSH International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 87 | 54 | 38 | 42 | 42 | 39 |
| Inventory Days | 36 | 49 | 43 | 39 | 45 | 56 |
| Days Payable | 29 | 15 | 6 | 4 | 6 | 14 |
| Cash Conversion Cycle | 95 | 88 | 75 | 78 | 82 | 80 |
| Working Capital Days | 36 | 27 | 30 | 28 | 27 | 39 |
| ROCE % | 18% | 16% | 18% | 21% | 21% |
Guidance history
How KSH International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q3 FY26 call → | 40%+ | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What KSH International Ltd's management said in earlier quarters
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