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KEI Industries Q1FY2027 results

• Revenues for Q1FY27 grew by 23% to Rs 3,185 crore broadly meeting our estimates. The revenue growth was backed by spectacular growth of 57% in Cables and Wires Other segments declined compensating the growth. Domestic business posted a growth of 29% where as international business declined by 7%. EHV cable sale increased to ` 186 crore in Q1 FY27 from ` 126 Crore in Q1 FY26, registering robust growth 47.74% YOY.
• Operating profit grew by 53% y-o-y to Rs.396 crore as an impact of growth in revenues. Operating profit margins improved by 247 bps yoy . In line with operating profit growth adjusted PAT grew by 40% y-o-y to Rs. 274 crores.
• View: KEI Q1FY27 have outperformed our estimates on the bottom line.  Currently we have a hold rating on the stock. 

Results (consolidated)                                                                                             Rs crore