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Revenue
₹3,476 Cr
verified against source
Revenue YoY
19.27%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
KEI Industries reported a strong Q4 FY26 with revenue of ₹3,476 crore (+19.3% YoY) and PAT of ₹284 crore (+25.5% YoY), driven by robust demand in domestic B2C (distribution up 29% YoY) and EHV cables (+64% YoY). Volume growth was constrained at 2% due to capacity limitations, but management guided for 17-18% volume growth in FY27 as the Sanand plant ramps up. EBITDA margin improved to 12.21% (vs 11.61% YoY) aided by operating leverage and B2C mix shift. Exports grew 45% in FY26 and are expected to reach 20% of sales in FY27, with US market reopening after tariff disruptions. Capex of ₹600-700 crore annually is planned for next 2-3 years. Key risk: supply chain disruptions in Middle East exports and potential metal price volatility could impact margins.
Colored figures show movement against the previous available record.
Guidance to track
- Driven by ramp-up of Sanand plant first phase and Chinchpada wire capacity.
- Management expects margins between 10.5% and 11% on a conservative basis.
- Exports expected to grow significantly, with US market reopening after tariff lull.
- Funded through internal accruals; includes Sanand phase 2 and backward integration.
Risks flagged
- Shipping issues in March led to ~₹50-60 crore export loss; freight costs have risen and are partially shared with customers.
- Q4 volume growth was only 2% due to capacity constraints; FY26 overall volume growth was 6.21%, below the 14-16% historical average.
- While volume guidance is 17-18%, revenue growth could be lower if copper/aluminium prices decline, as pass-through mechanism is order-to-order.
Key quotes
- We are expecting 17 to 18% volume growth in this current financial year, which will mainly coming from Sanand new facility.
- We will be continuing running as a debt-free company for next four to five years with a topline growth of 20% CAGR depending on the capacity we are going to add.
- In March we suffered we could have done around 50 cr more 50 to 60 cr more exports which could not happen.
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