KEI Industries reports strong Q2 FY'26 growth despite Sanand plant delay

KEI Industries Limited announced net sales of INR2,726 crores for Q2 FY'26, marking 19.38% growth, with the wire and cable segment growing by 22%. EBITDA increased by 31.2% to INR311.63 crores, achieving an 11.43% margin. Profit after tax surged by 31.47% to INR203 crores, with a margin of 7.4%. Export sales reached an all-time high of INR472 crores, up 96% year-over-year.

For the first half of FY'26, net sales hit INR5,316 crores, an increase of INR22.25 crores, and EBITDA grew by 29.65% to INR609 crores. The Sanand plant's first phase, contributing over 50% of total capacity, is now expected to be operational by November 2025, a four-month delay due to rain and labor shortages. Phase two, involving extra high-voltage cables, is delayed by approximately nine months.

Despite the delays, KEI Industries maintains a full-year growth guidance of over 20% for FY'26, driven by strong demand from the energy, data center, and infrastructure sectors. The company expects margin expansion of 1% to 1.5% once the Sanand plant is fully commissioned in FY'28. The total order booking as of September 30, 2025, stands at INR3,824 crores.