Financial Results Summary (INR Million, except MT data)

Quarterly Performance Comparison

| Metric | Q1 FY27 | Q1 FY26 | YoY % Change | Q4 FY26 | QoQ % Change |

| Volume (MT) | 7,969.2 | 6,114.1 | +30.3% | 7,611.8 | +4.7% |

| Revenue from Operations | 11,642.4 | 5,587.1 | +108.4% | 10,183.4 | +14.3% |

| - Specialized Wires Revenue | 8,092.8 | 3,798.1 | +113.1% | 7,079.1 | +14.3% |

| - Standard Wires Revenue | 2,739.3 | 1,496.9 | +83.0% | 2,309.2 | +18.6% |

| - Other Operating Income | 810.2 | 292.1 | +177.4% | 795.1 | +1.9% |

| Export Revenue | 2,835.1 | 1,615.1 | +75.5% | 2,532.1 | +12.0% |

| EBITDA | 743.7 | 402.8 | +84.6% | 563.4 | +32.0% |

| EBITDA/Ton (INR) | 93,325.0 | 65,885.2 | +41.6% | 74,018.3 | +26.1% |

| Profit After Tax | 422.2 | 226.8 | +86.2% | 345.3 | +22.3% |

Operational Highlights

  • Volume Growth: Achieved 7,969.2 MT in Q1 FY27, representing 30.3% YoY growth and 4.7% sequential growth from Q4 FY26
  • Revenue Drivers: Growth driven by volume increase, product mix improvement, and higher copper prices
  • Specialized Wires Performance: Revenue grew 113.1% YoY to ₹8,092.8 million, specifically driven by demand for CTC products
  • Export Performance: Export revenue increased 75.5% YoY to ₹2,835.1 million, with YoY export growth accelerating from 14% in Q1 FY26 to 76% in Q1 FY27

Capacity and Utilization

  • Installed Capacity: Remained unchanged at 43,445 MTs as of June 30, 2026
  • Utilization Rate: Improved to 73% in Q1 FY27 from 70% in Q4 FY26
  • Expansion Plans: Company remains on track to exit FY27 with installed capacity of 59,045 MTs
  • Land Acquisition: Board approved proposal to acquire approximately 10 acres of industrial land in Supa for future expansion requirements and long-term growth

Strategic Developments

  • Customer Expansion: Continued addition of new transformer OEM customers for specialized wires and domestic OEM customers for standard wire products
  • Long-term Agreement: Signed a long-term framework agreement with a large global transformer OEM to supply their global production facilities over the next five years
  • Backward Integration: Commissioned upcast backward integration facility in the previous week (early August 2026)

Balance Sheet and Cash Flow

  • Total Debt: Increased to ₹4,810 million, consisting mostly of growth-driven working capital loans
  • Debt-to-Equity: Remained at comfortable 0.57x
  • Working Capital Cycle: Improved to 60 days average from 71 days in Q1 FY26, driven by gains in both receivables and payables

Business Overview

KSH International Limited is India's third-largest manufacturer by production capacity in FY2026 and largest exporter of magnet winding wires by revenues in FY2026. The company provides ultraprecision special and standard magnet winding wires to OEMs across power, renewables, railways, motors for EVs and ICE, motors for industrial, home appliances, compressors for air conditioning and refrigeration. The company has four manufacturing facilities in Maharashtra (Taloja, two in Chakan, and Supa).