KEI Industries’ Q2 FY23 Standalone Financials
Standalone revenue from operations clocked by the company stood at Rs. 1,608.07 crore for Q2 of the current fiscal.
Correspondingly, KEI reported a standalone net profit of Rs. 106.9 crore for the second quarter of 2022-23.
KEI’s Consolidated Q2 FY23 Financial Performance
YoY Comparison of KEI’s Financial Results: Q2 FY-23 vs. Q2 FY-22
On a Year-over-Year basis, KEI’s Q2 revenue from operations showed an increase of 18.81% to Rs. 1,608.07 crore during FY-23 from Rs. 1,353.43 crore in FY-22.
Net Profit of the company also showed an upward trend, increasing by 16.55% YoY to Rs. 106.88 crore for Q2 of the current fiscal as compared to the Rs. 91.71 crore net profit clocked for the same quarter of FY-22.
QoQ Comparison of KEI’s Financials: Q2 FY-23 vs. Q1 FY-23
Quarter-over-Quarter (QoQ) analysis of KEI’s financials show a meagre 2.73% increase in the company’s revenue from operations. KEI had reported a revenue from operations of Rs. 1,565.41 crore for the first quarter of the current fiscal.
Net Profit of the company also increased by 3.01% on QoQ basis, from Rs. 103.76 crore reported for Q1 of FY-23.
Therefore, the company’s financials over Q1 and Q2 of the current fiscal have remained steady.
KEI’s Segment-Wise Financial Performance
Cables: KEI is primarily a cable company since this segment contributes most to its revenue. In Q2 of FY-23, KEI’s cable business earned revenue of Rs. 1,444.49 crore, which is 89.83% of the company’s consolidated revenue from operations for this quarter.
Segmental revenue for KEI’s cable business showed a YoY increase of 19.26% from Rs. 1,211.23 crore clocked during Q2 of FY-22. KEI’s QoQ increase in cable segment revenue was by a miniscule 1.68% from Rs. 1,420.57 crore earned in the first quarter of FY-23.
Stainless Steel (SS) Wires: The company’s revenue from this segment showed an impressive YoY growth by 41.99%, to Rs. 73.48 crore during Q2 of FY-23 from Rs. 51.75 crore reported for the same quarter of FY-22.
On a QoQ basis, KEI recorded an increase of 20.47% in its SS Wires segmental revenue from Rs. 60.1 crore clocked during the quarter ended 30th June 2022.
EPC Projects: This is the only segment where the company’s revenue has dropped YoY as well as QoQ. KEI’s EPC projects revenue slumped by 61.56% YoY, to Rs. 105.85 crore during Q2 of FY-23 from Rs. 275.39 crore recorded for the corresponding period of FY-22.
QoQ decrease in KEI’s revenue from this segment was 31.08%, dropping from Rs. 153.59 crore revenue reported during Q1 of the current financial year.
About KEI Industries Ltd.: KEI Industries was established in 1968, and is headquartered in New Delhi. The company has 38 branch offices and 21 warehouses across India. KEI has manufacturing facilities in Bhiwadi, Chopanki & Pathredi in Rajasthan and Silvassa in Dadra & Nagar Haveli. KEI deals in Low Tension cables, High Tension and Extra High Voltage, control and instrumentation cables, speciality cables, elastomeric / rubber cables, submersible cables, flexible & house wires.