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KEI Industries Q3 FY22 Revenue Shoots 36 % YoY

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KEI Industries Ltd., [NSE: KEI, BOM: 517569] an India-based company engaged in manufacturing of wires and cables has announced its financial results for quarter ended 31st December 2021.

KEI’s Standalone Financials of Q3 FY22

Standalone Financial Figures of KEI Q3 FY22 v/s Q3 FY21

KEI Financial Results Q3 FY22 vs Q3 FY21 vs Q2 FY22
KEI Industries’ Financial Performance: Q3 FY22 vs Q3 FY21 vs Q2 FY22

KEI Industries, total revenue from operations rose 36% to Rs 1,564 crore in the quarter ended December 2021 as against Rs 1,153 crore during the quarter ended in December 2020. Net profit of KEI Industries increased 27.19% to Rs 101 crore in Q3 FY22 as against Rs 80 crore during the previous quarter ended December 2020. EBITDA stands at Rs. 158.55 crore in Q3 FY22 up 18.69% from Rs. 133.58 crore in quarter ended December 2020.

KEI’s Standalone Financial Performance Q3 FY22 v/s Q2 FY22

In its quarterly earnings report, KEI Industries reported a total revenue of Rs 1,564 crore as against Rs 1,353 in Q2 FY22, it has increased by 16%. Net Profit of the company has gone up by 10% at Rs. 101 crore during the period under review as against Rs. 92 crore in Q2 FY22. EBITDA stands at Rs. 158.55 crore in December 2021 up 6.5% from Rs. 149 crore in Q2 FY22.

KEI’s Segment-Wise Revenue Financial Results

KEI Segment-wise Financial Results Q3 FY22 v/s Q3 FY21
KEI Industries’ Segment-wise Revenue: Q3 FY22 v/s Q3 FY21

Cables Business: Revenue from the total wire and cable business of KEI has touched Rs 1,406 crore in Q3 FY22 compared to Rs. 990 crore same quarter last year. A rise of 42%.

Sales through the Dealer/ Distribution market increased by 54.66% YoY in the 3rd quarter.

Stainless Steel Wire Business: The sales have gone up by 58.5%, touching Rs 65 crore in Q3 FY22 from Rs 41 crore in Q3 FY21.

EPC Projects Business: Sales through EPC business division has gone down by 24%, reaching Rs 93 crore from Rs 122 crore, which was in Q3 FY21.

More insights of KEI Industries Ltd. Q3 FY22 Result

KEI has a pending order book of Rs 2,994 crore as of 31 December 2021. KEI’s net debt has declined to Rs 84 crore as of 31 December 2021 from Rs 152 crore as of 31 March 2020.

KEI Management on Q3 FY22 Performance and Demand

Anil Gupta, the Chairman and MD of the company said “According to our calculation, the EBITDA over net sales is 10.14 percent in this quarter and the profit after tax (PAT) is around 101 crore which is 6.47 percent. So, EBITDA will normalize, we have been giving guidance anywhere between 11 to 11.5 percent as per our previous guidance, and we hope that it will normalize soon in this quarter and in the next quarter”.

On demand he said, “Major demand is there from the infra sector like metros and highway projects and also the solar power projects. We have seen a good growth in real estate projects also, we see next financial year will be very good for all these sectors infra, private capex as well as real estate”.

About KEI Industries Ltd.: KEI Industries Limited is involved in manufacturing low tension, high tension and extra high voltage cables, along with control and instrumentation and specialty cables, house wires and stainless-steel wires. The Company is also engaged in Engineering, Procurement and Construction (EPC) business. KEI has its manufacturing units in Bhiwadi, Chopanki, Pathredi and Silvassa.