KEI Industries posts strong Q2, H1 FY26 results with revenue growth

KEI Industries Limited reported significant financial growth for Q2 and H1 FY26, with revenue improving by 19.38% year-over-year in Q2 FY26 to ₹2727 Crore. This growth was accompanied by a rise in EBITDA margin to 11.43% from 10.40% year-over-year, and PAT margin to 7.46% from 6.78% year-over-year. For H1 FY26, revenue increased by 22.25% year-over-year to ₹5317 Crore, with EBITDA margin at 11.46% (up from 10.81% year-over-year) and PAT margin at 7.51% (up from 7.01% year-over-year).

The company's Q2 FY26 performance saw institutional cable and wire sales at ₹581 Crore, with total institutional sales including exports contributing 41.55% of the total in Q2 FY26. Sales through the dealer/distribution market increased by 17.31% year-over-year in Q2 FY26, contributing 54.12% of overall sales. The total active working dealer network as of September 30, 2025, stood at 2343.

EPC sales (excluding cable) decreased by 41.12% year-over-year in Q2 FY26, while SS Wire sales decreased by 10.58% year-over-year. The company's net debt as of September 30, 2025, was (₹1382) Crore, with total debt/(cash) at (₹732) Crore, including unutilized QIP proceeds. Pending orders were approximately ₹3,824 Crore.