KEI Industries Ltd (KEI) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management upgraded full-year revenue growth guidance to over 25%, signaling strong demand visibility and confidence in execution.
- The path to a 12% EBITDA margin is a multi-year journey ending in FY28, with the FY27 target firmly set at 11%.
- Capex will remain elevated at INR 600 crore annually for 3-4 years to support a 20% CAGR growth target, with returns normalizing from next year.
Performance Overview
- KEI Industries reported strong top-line growth of 38.5% in Q2 FY27, driven by a 46% increase in domestic wire and cable sales.
- The company maintains a robust order book of INR 4,927 crore for the wire and cable segment, with a significant export component of INR 991 crore.
- B2C sales through the distribution network emerged as the largest contributor, accounting for 59% of overall sales, indicating strong retail traction.
- The Extra High Voltage (EHV) cables segment demonstrated strong performance with sales of INR 217 crore, a significant increase from the previous year.
- The company is progressing with its major capital expenditure plan at Sanand, with Phase 2 expected to commence commercial production by March 2027.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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