KEI Industries Q2 FY-25 Financials: Revenue up 17%, PAT Jumps 10%

October 17, 20241210 Views Cables, EPC, Financials, KEI, Wires

KEI Industries Ltd. [NSE: KEI, BOM: 517569], a major player in the Indian wire and cable industry, has announced its financial results for Q2 of FY-25.

KEI Industries’ Standalone Q2 FY-25 Financials

During Q2 of FY-25, KEI Industries reported a standalone revenue of Rs. 2,279.65 crore and a Profit After Tax (PAT) of Rs. 154.81 crore.

KEI Industries’ Q2 FY-25 Consolidated Financial Results

YoY Comparison of KEI Industries’ Financial Results: Q2 FY-25 vs. Q2 FY-24

KEI’s Revenue Comparison: Q2 FY24 vs. Q2 FY25 vs. Q1 FY25

On a Year-over-Year (YoY) basis, the company’s top-line jumped to Rs. 2,279.65 crore during Q2 of FY-25 from Rs. 1,944.91 crore revenue reported for Q2 of FY-24. This marks a YoY increase of 17.21% in the company’s revenue. Following this, KEI Industries’ PAT also increased by 10.41% YoY to Rs. 154.81 crore in Q2 of FY-25 against Rs. 140.21 crore PAT during Q2 of FY-24.

KEI’s PAT Comparison: Q2 FY24 vs. Q2 FY25 vs. Q1 FY25

Earnings Per Share (EPS) of KEI Industries stood at Rs. 17.16 during second quarter of FY-25 and Rs. 15.54 in Q2 of FY-24.

QoQ Comparison of KEI Industries’ Financial Performance: Q2 FY-25 vs. Q1 FY-25

KEI Industries’ Quarter-over-Quarter (QoQ) revenue increased by 10.64% from Rs. 2,060.50 crore recorded for Q1 of FY-25. KEI Industries’ PAT during Q1 of FY-25 stood at Rs. 150.25 crore, this reflects a minor QoQ increase of 3.03% in the company’s Q2 FY25 PAT.

KEI Industries’ Segment-Wise Revenue Analysis

KEI’s Segment-wise Revenue Comparison: Q2 FY24 vs. Q2 FY25

Cables & Wires: The company earned a revenue of Rs. 2,140.23 crore from its Cables & Wires segment during Q2 of FY-25 against Rs. 1,774.28 crore logged for Q2 of FY-24. This increase represents a YoY growth of 20.63% in the company’s quarterly Cables & Wires segment revenue.

In its investor presentation for Q2 FY-25, the company reported that KEI earned Rs. 615 crore from domestic B2B sales during Q2 of FY-25, compared to Rs. 511 crore in Q2 of FY-24. Among these sales, Extra High Voltage (EHV) cable sales reached Rs. 73 crore in Q2 of FY-25, down from Rs. 169 crore in Q2 of FY-24.

B2C sales of wires and cables accounted for 55.18% of overall sale in Q2 FY-25. The company generated an amount of Rs. 1,258 crore from B2C sales of wires and cables during Q2 of FY-25.

Stainless Steel Wire: KEI Industries’ revenue from this segment increased slightly by 2% from Rs. 59.83 crore during Q2 of FY-25 against Rs. 58.66 crore during Q2 of FY-24.

Moreover, as per KEI Industries’ investor presentation, the company generated Rs. 27 crore from the exports of SS Wire during Q2 of FY-25.

EPC Projects: The company reported a revenue of Rs. 130.87 crore from its EPC Projects business during Q2 of FY-25, representing a YoY decrease of 58.20% from Rs. 313.08 crore clocked during Q2 of FY-24.

KEI Industries’ Stock Jumps Over 2% After Announcing Q2 FY-25 Financials

Post announcement of Q2 FY-25 financials, KEI Industries’ share price jumped by 2.43% as compared to the share price on previous trading day. The company’s share price stood at Rs. 4,690.65 apiece on the day of announcement of KEI Industries’ financials and Rs. 4,579.35 apiece on the previous trading day.

The company’s volume of share trades stood at 4,31,000 trades on the day KEI Industries announced its Q2 FY-25 financials against 1,32,000 trades on the trading day before the announcement of the company’s results.

Revenue Breakdown by Product Category for Q2 FY-25

The company mentioned in its earnings presentation that KEI Industries generated Rs. 889 crore from Low Tension (LT) cable sales during Q2 FY-25. Sales of House Wires (HW) and Winding Wires (WW) amounted to Rs. 728 crore in the same quarter. Additionally, High Tension (HT) cable sales contributed Rs. 431 crore, while the remaining Rs. 233 crore came from the sales of Extra High Voltage (EHV) cables, stainless steel (SS) wire, and the execution of EPC projects.

About KEI Industries Limited: KEI Industries was founded in 1968 as a partnership firm. It was converted into a Limited company in 1992. 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 (LT) cables, High Tension (HT) and Extra High Voltage (EHV), control and instrumentation cables, specialty cables, elastomeric / rubber cables, submersible cables, flexible & house wires.