KEI Industries Limited — Q2FY27 earnings call summary

Filed 29 October 2026 · Official transcript

Capacity utilization H1 FY27: Cable 77%, House Wire 64%, Stainless Steel Wire 91%, Communication Cable 43%
Q2 FY27 net sales grew 38.5% to INR 3,776 Cr; EBITDA margin 10.62%, PAT margin 6.95%
H1 FY27 sales grew 31% with EBITDA margin improving to 11.73%
Guidance: FY27 growth >25% CAGR next 3-4 years; EBITDA margin 11-12% as Sanand ramps
No guidance cut; margin guidance intact at 11-12% over FY27-FY28
Export order book strong at INR 991 Cr, with US orders ~50%
Sanand Phase 2 EHV cable commercial production to start by Mar-27; capex ~INR 600 Cr annually next 3-4 years
Working capital inventory to normalize by Mar-27; EPC segment losses to continue till closure