KEI Industries Limited reported second-quarter revenue growth of 38.52% and profit growth of 28.96%, while its EBITDA margin narrowed, signaling slower operating-profit growth than sales.
KEI's unaudited consolidated results for the quarter ended Sept. 30 showed revenue from operations of ₹37.76 billion (₹3,776.42 crore), compared with ₹27.26 billion a year earlier. Profit after tax rose to ₹2.62 billion (₹262.45 crore) from ₹2.04 billion. The board approved the results on Oct. 21, the filing said.
KEI's earnings presentation reported that domestic wires-and-cables sales increased 45.76% year over year, while exports rose 7.27%. Sales of the products reached ₹36.39 billion (₹3,639 crore), 96.35% of second-quarter sales. The company credited demand across its wires-and-cables business for revenue growth.
EBITDA increased 28.69% to ₹4.01 billion (₹401 crore), the presentation showed. Its margin was 10.62%, compared with 11.43% a year earlier and 13.04% in the June quarter. KEI's presentation cited more efficient operations and product mix as factors in EBITDA growth.
IDBI Direct's BSE data showed KEI shares closed at ₹3,715.10 on Friday, Oct. 23, down 4.25% from the previous close of ₹3,880. LiveMint reported that InCred Equities raised its rating on KEI to Add from Hold and cut its target to ₹5,000 from ₹5,760. LiveMint said the brokerage also lowered its valuation multiple to 33 times from 36 times, citing competition and industry capacity additions. The reported target is 34.6% above the Oct. 23 close.
KEI's filing also disclosed that Income Tax authorities searched certain company premises in May 2026. Management said it saw no material adverse financial impact and no need for adjustments. Statutory auditor Pawan Shubham & Co. said the effect could not yet be determined.
