KEI Industries Q3 FY21 Net Sales down 12% YoY

February 4, 2021February 4, 2021Cables, Financials, KEI

KEI Industries Ltd., manufactures of various types of LV and HV Cables, has announced its financial results for the quarter ended 31st December 2020.

KEI’s Financial Comparison: Q3 FY21 v/s Q3 FY20

KEI Industries revenue from operations declined by 12% to Rs 1,153 crore in Q3 FY21 as compared to Rs. 1,314 crore in Q3 FY20 due to “lower revenue from EPC and execution of one large export order in previous year” as per KEI’s Earning presentation of Q3 FY 2021 dated 28th January 2021.

Gross profit of the company has also gone down by 16% at Rs. 301 crore as compared to Rs. 360 crore of same quarter last year. EBITDA of KEI has gone down by 8 % to Rs 128 crore in Q3 FY21 as compared to Rs. 139 crore in Q3 last year. PAT has gone up by 10 % to Rs 80 crore as compared to Rs 73 crore in Q3 FY20.

Financial Comparison of Q3 FY21 v/s Q2 FY21

KEI Industries revenue went up by 11% in Q3 FY21 as compared to Rs. 1,037 crore in Q2 FY21 clearly showing the uptake in business after being hit by Covid in previous quarters. Gross Profit of the company has gone up by 2% as compared to Rs. 296 crore in Q2 FY21.

KEI’s EBITDA has gone up by 8% Q3 FY21 over the Rs. 118 crore of same quarter last year. PAT has gone up by 17 % in comparison to Rs 68 crore in Q2 FY21.

Segment-Wise Results for KEI Industries

Wires and Cables Business

The revenue from total wires and cables business of KEI has decreased by 19 % to Rs 599 crore in Q3 FY21 as compared to Rs. 743 crore in Q3 FY20, whereas it have increased 11% in comparison to Rs. 538 crore during Q2 FY21.

Cables and Wires – Dealer / Distribution Segment: The sales through Dealer/Distribution market has increased by 11% to Rs. 410 crore in Q3 FY21 as compared to Rs. 371 crore in Q3 FY20. The Dealer sales have also gone up by 18% in comparison to Rs. 348 crore in Q2 FY21. As of 31st December 2021, KEI has approx. 1645 active working dealers.

EPC Business

The sales through EPC business have gone down 33% to Rs 122 crore in Q3 FY21 as compared to Rs. 182 crore in Q3 FY20. There was also an 8% decline in EPC sales in Q3 FY21 when compared to Rs 133 crore figure for Q2 FY21.