Company Overview

KEI Industries Limited is one of the leading manufacturers of cables and wires with a wide product portfolio spread across EHV, HT and LT Power Cables, House Wire, and Stainless Steel Wire. The company has forward integrated into EPC services for Power, Distribution, Transmission and sub-station projects.

Financial Performance

FY26 Financial Results:

  • Revenue: INR 1,17,478 Mn
  • EBITDA: INR 13,876 Mn (11.81% margin)
  • PBT: INR 12,323 Mn
  • PAT: INR 9,184 Mn
  • Net Fixed Assets: INR 26,887 Mn
  • Net Worth: INR 66,650 Mn
  • Total Debt: INR 1,862 Mn (including discounting arrangements from banks)
  • ROCE: 24%
  • ROE: 15%

Q1 FY27 Performance:

  • Revenue growth of 22.97% YoY to INR 31,853 Mn
  • EBITDA growth of 39.57% YoY to INR 4,154 Mn
  • EBITDA margin expanded by ~155 bps to 13.04% from 11.49% in Q1 FY26
  • PAT growth of 40.05% YoY to INR 2,741 Mn
  • PAT margin improved to 8.61% from 7.56% in Q1 FY26

Manufacturing Capabilities

Plant Locations and Capacities:

  • 9 manufacturing facilities across India: Bhiwadi (1996), Rakholi (2002), Chopanki (2007), Pathredi-1 (2018), Pathredi-2 (2024), Chinchpada (2019), Sanand (2025)
  • Key capacities include: House Wire/Winding Wire - 2,59,400 Kms, Stainless Steel Wire - 9,000 MT, Cable - 36,900 Kms, and additional specialized production across locations

R&D and Quality:

  • R&D facility with in-house lab accredited by NABL
  • Products tested by international agencies including KEMA (The Netherlands), TUV (Rheinland), SGS, IRS, ABS, CEIL, BRE (UK), LLOYDS REGISTER, BVQI, DNV, CPRI, ERDA, EIL, PDIL, MECON, NTPC, NPCIL, TUV India, RINA, PGCIL, TPL, DQAN, EQM, UL, RDSO
  • Focus on customized solutions and new product development

Business Diversification

Product Portfolio:

  • Extra-High Voltage Cables up to 400 KV
  • High & Medium Voltage Cables
  • Control & Instrumentation Cables
  • Specialty Cables, Submersible Cables, Rubber Cables
  • Solar Cables, ESP Cables
  • PVC/Poly Wrapped Winding Wires
  • Flexible & House Wires, MVCC Cables
  • Stainless Steel Wires
  • Fire Survival/Resistant Cables
  • EV Cables
  • EPC Projects

Customer Concentration:

  • Top 10 customers accounted for 13% of sales in FY26 and 15% in Q1 FY27
  • Serves multiple sectors including power, oil refineries, railways, automobiles, cement, steel, fertilizers, textile, real estate, telecom, data centers, renewable energy

Distribution and Exports

Domestic Presence:

  • 26 depots across India
  • 38 marketing offices across the country
  • Strong pan-India distribution network with increasing focus on retail segment

Export Performance:

  • Exports accounted for 13% of sales in FY25 and 15% in FY26
  • Presence in 60+ countries with offices in 4 countries (UAE, South Africa, Nepal, Gambia)
  • Healthy export order book of INR 8,216 Mn as of July 2026
  • Provides natural forex hedge due to raw material imports

Management Team

Key management includes:

  • Mr. Anil Gupta: Chairman-cum-Managing Director
  • Mr. Akshit Diviaj Gupta: Whole Time Director
  • Mrs. Archana Gupta: Non-Executive Director
  • Mr. Rajeev Gupta: Executive Director (Finance) & CFO
  • Mr. Lalit Sharma: Chief Operating Officer
  • Mr. Manoj Kakkar: Executive Director - Sales & Marketing
  • Mr. Kishore Kunal: Sr. Vice President (Corporate Finance) & Company Secretary

Shareholding Pattern

As of 30th June 2026:

  • Promoters: Not specified percentage
  • FII: Not specified percentage
  • DII: Not specified percentage
  • Public/Other: Not specified percentage

Key Institutional Investors (as of 30th June 2026):

  • Government Pension Fund Global: 3.57%
  • Smallcap World Fund, Inc: 2.06%
  • Canara Robeco Mutual Fund: 1.79%
  • HSBC Mutual Fund: 1.33%
  • ICICI Prudential Fund: 1.25%
  • Edelweiss Index Fund: 1.24%
  • Axis Mutual Fund Trustee Limited: 1.21%
  • Invesco India Multicap Fund: 1.04%
  • DSP Nifty 500 Index Fund: 1.03%
  • Total Institutional Holding: 53.22%

Industry Prospects

Market Growth:

  • India Wires & Cables Market expected to grow at 11-13% CAGR between FY24-29E
  • Export market expected to grow at 10-11% CAGR between FY24-29E
  • Share of exports increased from 5% in FY19 to 10% in FY24

Growth Drivers:

  • India plans to invest Rs. 9,15,920 crore (US$107 billion) by 2032 for transmission lines
  • Energy storage sector poised to attract Rs. 4,79,000 crore (US$56.07 billion) by 2032
  • Thermal power sector to attract Rs. 2,30,000 crore (US$26.71 billion) by 2027-28
  • India plans to double capex to Rs. 72,72,600 crore (US$850 billion) by 2030
  • Power and transmission to receive Rs. 25,66,800 crore (US$300 billion)
  • Railway electrification reached 87% in FY23
  • Data center capacity set to touch 14GW by 2035 with 20% CAGR

Brand Recognition

  • Super Brand Status from FY 2011-16 and FY 2019-26
  • IPL Sponsorship from FY17 to FY26
  • Title Sponsorship of Real Kabaddi League
  • Jersey Sponsorships for Tamil Thalaivas and Patna Pirates in Pro Kabaddi League
  • Advertisement & Publicity expenses tracked separately

ESG Initiatives

Material Issues:

1. GHG Emissions & Climate Change

2. Product Stewardship

3. Natural Resource Management

4. Supply Chain Sustainability

5. Employee Development and Engagement

6. Occupational Health & Safety

7. Governance and Ethical Business Conduct

8. Transparency, Accountability and Reporting

Environmental Performance:

  • GHG Intensity for scope 1 & 2 emissions reduced by 4.8% in FY24-25
  • Reduction in energy intensity by 9.89% in FY24-25
  • Renewable energy increased by 1.46% in FY24-25
  • Water intensity reduced by 15.71% in FY24-25

Social Performance:

  • Shareholder satisfaction survey rolled out for 1,64,459 shareholders
  • 47.50% reduction in LTFIR for workers in FY24-25
  • Supplier Assessment conducted for 49 Suppliers
  • Supplier code of conduct strengthened

Governance:

  • Manufacturing facilities certified with ISO 14001:2015, ISO 45001:2018, ISO 9001:2015
  • ESG targets reviewed annually by Board
  • No cases of data breaches
  • Materiality Assessment conducted
  • Policies aligned with NGRBC principles

Key Initiatives:

  • EV Forklifts for material handling
  • Dedicated Power Feeder for optimal power utilization
  • Dual Fuel DG Set with PNG (Piped Natural Gas)
  • Adoption of IE3 & IE4 Motors
  • Lifecycle Assessment of 11 products
  • SBTi Commitment initiated

ESG Ratings:

  • NSE Sustainability Ratings: Score of 72, classified under "Leader" category
  • CareEdge ESG: Score of 72.8 with ESG-1 rating

Corporate Social Responsibility

  • Swasthya Utsav program focusing on Daily Safety, Good Touch Bad Touch, Physical Fitness & Self-Empowerment
  • Target group: electricians and their families
  • Free health checkups and consultations
  • ABHA Cards creation for healthcare ecosystem integration

Disclaimer and Contact

This presentation contains forward-looking statements and is for general information purposes only. Not an offer to sell or solicitation to buy securities. Contact for Investor relations: cs@kei-ind.com