StrengthTalking point
Debt reduced
Total debt is down from ₹458 to ₹186 over 7 years (59.4% lower); debt-to-equity moved 0.59× → 0.03×.
Importance 63 / 95 · financial health
KEI Industries · Research view
KEI Industries Ltd.
NSE: KEIBSE: 517569ISIN INE878B01027Face value ₹2consolidated
₹4,508
+1.08% · 2026-10-01 · 52-wk ₹3,805–₹5,873
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
StrengthTalking point
Profit compounding faster than revenue
Over 7 years profit compounded at 26.1% a year while revenue compounded at 15.7% a year.
Importance 62 / 95 · growth
StrengthTalking point
Profit outpacing revenue
Profit grew 31.9% while revenue grew 20.7%, so the company kept more of each rupee of revenue as profit.
Importance 62 / 95 · growth
Section 03 · The company
Who is this company?
Classified by the exchange under Industrials › Capital Goods › Industrial Products › Cables - Electricals.
- Market cap
- ₹43,096 cr
- FY2026 revenue
- ₹11,748 cr
- FY2026 net profit
- ₹918 cr
- Net worth
- ₹6,665 cr
- Total debt
- ₹186 cr
- EPS (basic)
- ₹96.09
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 2 cables - electricals.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Over 7 years profit compounded at 26.1% a year while revenue compounded at 15.7% a year.
Rule PROFIT_CAGR_VS_REVENUE_CAGR
- Revenue growth per year
- +15.7%over 7 years
- Revenue growth
- +20.7%vs last year
- Net profit growth
- +31.9%vs last year
- Change in net profit since FY19
- +408%
Profit grew 31.9% while revenue grew 20.7%, so the company kept more of each rupee of revenue as profit.
Revenue compounded at 15.7% a year over 7 years (₹4,231 → ₹11,748).
Net profit grew 31.9% year on year (FY2025 → FY2026).
Revenue grew 20.7% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit was ₹274 cr, up 40.0% from ₹196 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 EBIT was ₹387 cr, up 39.3% from ₹278 cr a year earlier.
Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY
Strength
Q1 FY27 revenue was ₹3,185 cr, up 23.0% from ₹2,590 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 2,280 | — | 155 | — | 6.8% |
| Q3 FY25 | 2,467 | +19.7% | 165 | +9.4% | 6.7% |
| Q4 FY25 | 2,915 | +25.7% | 227 | +34.5% | 7.8% |
| Q1 FY26 | 2,590 | +25.7% | 196 | +30.3% | 7.6% |
| Q2 FY26 | 2,726 | +19.6% | 204 | +31.5% | 7.5% |
| Q3 FY26 | 2,955 | +19.8% | 235 | +42.5% | 7.9% |
| Q4 FY26 | 3,476 | +19.3% | 284 | +25.5% | 8.2% |
| Q1 FY27 | 3,185 | +23.0% | 274 | +40.0% | 8.6% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹12,343 crTTM
- EBITDA
- ₹1,505 crTTM
- EBIT
- ₹1,406 crTTM
- PBT
- ₹1,338 crTTM
- Net profit
- ₹997 crTTM
C. Corporate actions
28 Jan 2026DividendInterim Dividend - Rs. - 4.5000 — ₹4.50/share
27 Jan 2025DividendInterim Dividend - Rs. - 4.0000 — ₹4.00/share
19 Mar 2024DividendInterim Dividend - Rs. - 3.5000 — ₹3.50/share
3 Feb 2023DividendInterim Dividend - Rs. - 3.0000 — ₹3.00/share
7 Feb 2022DividendInterim Dividend - Rs. - 2.5000 — ₹2.50/share
9 Mar 2021DividendInterim Dividend - Rs. - 2.0000 — ₹2.00/share
19 Mar 2020DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
6 Sept 2019DividendDividend - Rs. - 1.2000 — ₹1.20/share
11 Sept 2018DividendDividend - Rs. - 1.0000 — ₹1.00/share
11 Jul 2017DividendDividend - Rs. - 0.6000 — ₹0.60/share
29 Aug 2016DividendDividend - Rs. - 0.5000 — ₹0.50/share
8 Sept 2015DividendDividend - Rs. - 0.4000 — ₹0.40/share
11 Sept 2014DividendDividend - Rs. - 0.2000 — ₹0.20/share
13 Jun 2013DividendDividend - Rs. - 0.2000 — ₹0.20/share
6 Sept 2012DividendDividend - Rs. - 0.2000 — ₹0.20/share
8 Sept 2011DividendDividend - Rs. - 0.2000 — ₹0.20/share
17 Aug 2010DividendDividend - Rs. - 0.2000 — ₹0.20/share
9 Jul 2009DividendDividend - Rs. - 0.2000 — ₹0.20/share
14 Aug 2008DividendDividend - Rs. - 0.5000 — ₹0.50/share
6 Sept 2007DividendDividend - Rs. - 0.5000 — ₹0.50/share
21 Dec 2006Otherother
2 Aug 2001DividendDividend - Rs. - 1.0000 — ₹1.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Margin and return trends are shown above.
- EBITDA margin now
- 11.8%
- 8-year range
- 10.5–11.8%
- ROE FY2026
- 14.8%
- ROCE FY2026
- 20.2%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Total debt is down from ₹458 to ₹186 over 7 years (59.4% lower); debt-to-equity moved 0.59× → 0.03×.
Rule DEBT_FELL_MULTIYEAR
Operating cash flowNet profit
- Total debt
- ₹186 cr
- Operating cash flow ÷ net profit
- 0.91×FY2026
- Free cash flow
- ₹−290 cr
- Current ratio
- 2.96×
Net worth compounded at 35.9% a year over 7 years (₹778 → ₹6,665) — though FY2020 saw a one-off step-change of 94% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Section 08 · Relative position
How does it compare with peers?
Ranked against 2 cables - electricals (FY2026, consolidated). No peer-relative rule fired for this company.
Not enough peers in this set report the underlying metrics yet for a ranking.
- P / E
- 43.2×TTM to Jun 26
- P / B
- 6.5×latest book
- P / S
- 3.5×TTM sales
- Earnings yield
- 2.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 46.9× · P/S 3.6× · ROE 14.8%.
Section 09 · The stock
How has the stock performed?
Context
Over 5 years the stock returned 36.1% a year while profit compounded at 27.4% a year — the FY2021 base was somewhat depressed, so part of this is recovery rather than trend.
Rule STOCK_RAN_AHEAD · rebound
- 1-year return
- +11.8%
- 3-year return
- +69.9%
- 5-year return
- +366.9%
- From 52-wk high
- −23.2%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹5,108
- vs 200-day avg
- Below₹4,822
- RSI (14)
- 35.3neutral
- MACD histogram
- 6.4
- From 52-wk high
- −23.2%
- From 52-wk low
- +18.5%
- 30-day volatility
- 41.6%ann.
- 6-month return
- +11.6%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
Nothing is flagged for review for this company.
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,231 | 4,888 | 4,182 | 5,727 | 6,912 | 8,104 | 9,736 | 11,748 |
| Total income | 4,238 | 4,904 | 4,202 | 5,741 | 6,940 | 8,153 | 9,808 | 11,906 |
| EBITDA | 448 | 514 | 481 | 603 | 734 | 887 | 1,063 | 1,388 |
| Profit before tax | 278 | 328 | 365 | 507 | 642 | 781 | 937 | 1,232 |
| Net profit | 181 | 256 | 273 | 376 | 477 | 581 | 696 | 918 |
| EPS (₹) | 23.0 | 31.6 | 30.5 | 41.8 | 52.9 | 64.4 | 75.7 | 96.1 |
| Net worth | 778 | 1,507 | 1,778 | 2,136 | 2,589 | 3,148 | 5,786 | 6,665 |
| Total debt | 458 | 315 | 285 | 331 | 135 | 134 | 178 | 186 |
| Operating cash flow | — | — | 154 | 229 | 514 | 611 | −32 | 840 |
| Free cash flow | — | — | 130 | 169 | 438 | 356 | −720 | −290 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Revenue growth YoY | — | 15.5 | -14.4 | 36.9 | 20.7 | 17.2 | 20.1 | 20.7 |
| Profit growth YoY | — | 41.8 | 6.7 | 37.5 | 26.9 | 21.7 | 19.9 | 31.9 |
| Profitability | ||||||||
| EBITDA margin % | 10.6 | 10.5 | 11.5 | 10.5 | 10.6 | 10.9 | 10.9 | 11.8 |
| Net margin % | 4.3 | 5.2 | 6.5 | 6.5 | 6.9 | 7.1 | 7.1 | 7.7 |
| Return on equity % | 23.2 | 22.4 | 16.6 | 19.2 | 20.2 | 20.2 | 15.6 | 14.8 |
| Return on capital % | 33.5 | 29.9 | 21.8 | 24.2 | 26.1 | 27.5 | 21.5 | 20.2 |
| Leverage & cash | ||||||||
| Debt to equity | 0.59 | 0.21 | 0.16 | 0.16 | 0.05 | 0.04 | 0.03 | 0.03 |
| Cash flow ÷ profit | — | — | 0.56 | 0.61 | 1.08 | 1.05 | -0.05 | 0.91 |
| Current ratio | 1.20 | 1.63 | 2.14 | 2.22 | 2.83 | 2.58 | 4.18 | 2.96 |