KEI Industries Q1 FY23 Results: Cable Revenue Up 60.55%, Net Profit Up 54.63% YoY
KEI Industries Ltd. [NSE: KEI, BOM: 517569], a major player in the Indian cable and wire industry, has announced its financial results for the first quarter of 2022-2023 fiscal.
KEI’s Consolidated Financial Results for Q1 of FY-23
Y-o-Y Comparison of KEI’s Financials: Q1 FY-23 vs Q1 FY-22
KEI reported a total income of Rs. 1,568.94 crore during the quarter ended 30th June 2022. This amounts to a remarkable 53.77% increase YoY from the company’s total income for Q1 of the previous fiscal, which was Rs. 1,020.34 crore.

Considering the company’s profits, KEI has reported a net profit of Rs. 103.76 crore for Q1 of the current fiscal. This is a 54.63% Year-over-Year (Y-o-Y) jump from its Rs. 67.10 crore net profit clocked in Q1 of FY-22.
It is important to note here that industrial activity, especially in the cable industry was badly impacted during Q1 FY22 due to the deadly impact of Covid-19’s 2nd wave in India. In addition to severe shortage of man-power and truckers, industrial projects were also badly affected. Thus, the Q1 FY23 results need to be viewed in this context.
Q-o-Q Comparison of KEI’s Financials: Q1 FY-23 vs Q4 FY-22
Comparing the total income of Q1 of FY-23 and Q4 of FY-22, we see a 12.81% slump to Rs. 1,568.94 crore from Rs. 1,799.54 crore.
The net profit also exhibited a downward trend, with the figure dropping by 10.54% to Rs. 103.76 crore in the first quarter of FY-23 against Rs. 115.98 crore during the last quarter of FY-22.
KEI’s Segment-wise Consolidated Revenue

Cables & House Wires / Winding Wires: KEI’s Q1 FY23 Cable & House Wire / Winding Wire segment revenue shot up by 60.55% Y-o-Y to Rs. 1,420.57 crore against Rs. 884.43 crore clocked during Q1 of FY-23.
Comparing the company’s revenue from this segment, we see a 12.38% decrease from Rs. 1,621.36 crore reported for the last quarter of the previous fiscal.
Low Tension (LT) cables contributed the largest share of Rs. 637 crore to the company’s Cable & House Wire / Winding Wire business during Q1 of FY-23, followed by the Rs. 414 crore share of House Wires / Winding Wires. High Tension (HT) cables and Extra High Voltage (EHV) cables contributed Rs. 261 crore and Rs. 105 crore to this segment’s revenue for the quarter ended 30th June 2022.
Stainless Steel (SS) Wires: KEI’s revenue from its Stainless Steel (SS) wires business grew by 27.61% to Rs. 61 crore in Q1 of FY-23 from Rs. 47.79 crore registered during the first quarter of the previous fiscal.
There was a slight drop of 0.31% in the company’s consolidated SS Wire revenue from Rs. 61.19 crore clocked for Q4 of 2021-22 fiscal.
As per KEI, the export sale of SS wire was worth Rs. 31 crore in the first quarter of 2022-23 against Rs. 21 crore for the same period in the previous financial year. This translates to a 47.61% increase.
EPC Projects: KEI’s revenue from its EPC business increased by 11.42% to Rs. 153.59 crore in the quarter ended 30th June 2022 from Rs. 137.85 crore in the first quarter of the previous fiscal.
In comparison with the last quarter of FY-22, KEI’s revenue from EPC projects fell by 29.36% during Q1 of the current financial year. In Q4 of FY-22, the company clocked a revenue of Rs. 217.44 crore from this segment.
About KEI Industries Ltd.: Established as a partnership firm in 1968, KEI Industries is headquartered at New Delhi, and has 38 branch offices and 21 warehouses across India. The company has manufacturing facilities in Bhiwadi, Chopanki & Pathredi in Rajasthan and Silvassa in Dadra & Nagar Haveli. KEI is primarily a cable and wire company, dealing in Low Tension cables, High Tension and Extra High Voltage, control and instrumentation cables, speciality cables, elastomeric / rubber cables, submersible cables, flexible & house wires.