• The document is a regulatory filing containing the transcript of the Earnings Conference Call held on Thursday, November 05, 2026, in respect of the company's unaudited financial results for the quarter and six months period ended September 30, 2026 (Q2 FY27).
  • The call was moderated by Mr. Mohit Kumar from ICICI Securities.
  • Management participants included:
  • Mr. Rajesh Hegde – Managing Director
  • Mr. Hukumchand Lakhotia – Chief Executive Officer
  • Mr. Amod Joshi – Chief Financial Officer
  • Mr. Dhruv Chopra – Head of Investor Relations
  • Mr. Nakul Patil – Company Secretary and Head, Secretarial and Legal
  • The stated purpose of the event was to discuss the company's Q2 and H1 FY '27 Financial Results and provide a business and strategic update.
  • The transcript has been hosted on the company's website at: https://kshinternational.com/investor-relations/transcripts/.

Financial & Operational Highlights from Transcript

  • Revenue from operations in Q2 FY27 were Rs. 1,320 crores, up 85% year-over-year (YoY).
  • Specialized winding wires revenue increased 87% YoY.
  • Standard winding wires revenue accelerated to 119% YoY growth, albeit from a smaller base.
  • Export revenue grew 108% compared to Q2 FY26 and represented 32% of total revenue in Q2, up from 26% in Q1.
  • Sales volume was 8,842 metric tons in Q2, up from 7,969 metric tons in Q1 and 7,037 tons a year ago, representing 26% YoY volume growth.
  • Q2 EBITDA was Rs. 90 crores, up from Rs. 46 crores last year and Rs. 74 crores last quarter.
  • EBITDA per ton for Q2 was approximately Rs. 101,400 per metric ton, up from ~Rs. 65,500 last year and ~Rs. 93,000 in Q1. Key drivers were a higher contribution from the premium CTC product, stronger export volumes, a favorable currency (weaker rupee), and benefits from the new recycling and rooftop solar plants.
  • Quarterly PAT was a record Rs. 48 crores, up 62% YoY from Rs. 30 crores and from Rs. 42 crores last quarter.
  • Cash Flow & Balance Sheet: The company generated positive cash flow from operations of Rs. 43 crores in H1 FY27. Total outstanding debt was reduced to Rs. 341 crores down from Rs. 481 crores in Q1 FY27. Working capital days improved to 52 days from 60 days in Q1.
  • Capacity & Utilization: Installed capacity as of September 30, 2026, was 57,845 metric tons. Total utilization in Q2 improved to 76% from 73% last quarter. Utilization for specialized winding wire capacity exceeded 80%.

Strategic Updates & Guidance

  • Phase-3 Expansion: The board approved a new Phase-3 expansion to add specialized magnet winding wires manufacturing capacity. This is expected to increase the company's total installed capacity to approximately 72,200 metric tons by Q1 of FY 2029.
  • The company intends to spend up to Rs. 1,850 million (Rs. 185 crores) to finance this expansion, which includes the purchase of an additional 10 acres of land in Supa. It will be funded with a combination of internal accruals and long-term debt.
  • The management believes 26% volume growth for FY27 continues to be sustainable.
  • For the long term, post Phase-3 expansion, a sustainable EBITDA per ton of approximately Rs. 85,000 is expected, though individual quarters may exceed this depending on product mix, exports, and currency impact.
  • The objective over the next few years is to return exports to its historical average of around 40% of total revenue.
  • The company received a trial order to supply specialized wires for 2 HVDC transformers overseas.
  • Power Grid approved the Supa facility to supply magnet winding wires up to 765 kV transformers and reactors.

Additional Notes Section

  • The document is a submission to the stock exchanges (BSE and NSE) pursuant to Regulation 30 and Regulation 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • It is in continuation to earlier intimations: the Intimation of Earnings Conference Call dated October 21, 2026 and the Intimation of Audio recording of Earnings Conference Call dated November 05, 2026.
  • The transcript itself is the primary attachment to this filing.
  • The announcement is a disclosure of the event transcript and does not contain new, unpublished price-sensitive information (UPSI) beyond what was discussed on the recorded call.