KEI Industries Limited reported a robust performance for the quarter and full year ended March 31, 2026. The company achieved a 20.66% increase in annual net sales to INR 11,746 crores. Driven by strong demand across power and infrastructure sectors, KEI maintains a positive outlook, anticipating 17% to 18% volume growth in the current fiscal year, supported by its new Sanand facility ramp-up and a commitment to maintaining a debt-free status.
Financial Highlights
For the fourth quarter of FY26, KEI Industries recorded net sales of INR 3,476 crores, marking a 19.27% growth compared to the previous year. The company’s Profit After Tax (PAT) for the quarter rose by 25.5%. On an annual basis, the company reported total net sales of INR 11,746 crores, while the EBITDA for the full year stood at INR 1,387 crores, reflecting a 30.56% increase over the previous year.
Strategic Growth Drivers
Management highlighted that volume growth was driven by consistent demand across institutional, dealer, and distribution networks. The company’s domestic institutional sales, particularly in extra high-voltage (EHV) cables, saw a significant 64% growth in the fourth quarter. The Sanand plant, despite a temporary six-month commissioning delay for its first phase, is expected to be a primary catalyst for capacity and volume expansion in the upcoming financial year.
Operational Outlook
KEI Industries remains optimistic about the Indian infrastructure landscape, citing bullish demand in the power transmission, data centers, railways, and real estate sectors. To support this growth, the company plans an annual capital expenditure of INR 600 to 700 crores over the next 2-3 years, funded entirely through internal accruals. The company also confirmed its focus on maintaining an EBITDA margin between 10.5% and 11% and continues to operate as a debt-free entity.
Order Book and Exports
As of March 31, 2026, the company’s total order book stands at approximately INR 3,585 crores. This includes INR 2,154 crores in domestic institutional orders and INR 497 crores in export orders. With the easing of shipping constraints and reduced tariffs, the company is actively expanding its footprint in the United States and other key global markets, aiming to derive approximately 20% of its total sales from exports in the current financial year.
Source: BSE
