KEI Industries Ltd.
NSE: KEI · Cables - Electricals · sector
₹3,899.50NSE close 2026-10-26
Key numbers
Market cap₹37,279 cr
Price₹3,899.50
52w high / low₹5,899 / ₹3,729
P/E35.3xSector median 21.9x
P/B5.2xSector median 2.9x
Book value₹753.5
Dividend yield0.12%Sector median 0.30%
ROE15.8%Sector median 12.3%
ROCE19.8%Sector median 17.8%
OPM11.0%Sector median 7.6%
Debt / equity0.04xSector median 0.09x
EV/EBITDA25.0xSector median 15.8x
Interest cover21.1x
Current ratio2.99x
Sales growth 3y+19.3%Sector median +21.4%
Profit growth 3y+24.4%Sector median +12.3%
PEG1.60x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 17 companies in Cables - Electricals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,513 cr vs borrowings ₹186 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 21.1x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 11% of net profit in the last 12 months.
- Debtor days went from 68 (FY24) to 57 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹3,899.50 on 2026-10-26: -33.9% from the 52-week high, +4.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹5,754.00 · low ₹2,599.70
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,467 | 2,915 | 2,590 | 2,726 | 2,955 | 3,476 | 3,185 | 3,776 |
| EBITDA | 241 | 301 | 258 | 269 | 320 | 382 | 396 | 377 |
| OPM % | 9.8% | 10.3% | 10.0% | 9.9% | 10.8% | 11.0% | 12.4% | 10.0% |
| Other income | 14 | 37 | 40 | 42 | 34 | 43 | 20 | 25 |
| Net profit | 165 | 227 | 196 | 204 | 235 | 284 | 274 | 262 |
| EPS (₹) | 17.87 | 23.71 | 20.49 | 21.30 | 24.57 | 29.74 | 28.68 | 27.45 |
| Revenue YoY | +19.8% | +19.3% | +23.0% | +38.5% | ||||
| Profit YoY | +42.5% | +25.5% | +40.0% | +29.0% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 5,727 | 6,912 | 8,104 | 9,736 | 11,748 | 13,393 |
| EBITDA | 589 | 706 | 837 | 991 | 1,229 | 1,474 |
| Net profit | 376 | 477 | 581 | 696 | 918 | 1,056 |
| EPS (₹) | 41.77 | 52.94 | 64.37 | 75.65 | 96.09 | 110.44 |
| Revenue growth | +20.7% | +17.2% | +20.1% | +20.7% | +25.2% | |
| Profit growth | +26.9% | +21.7% | +19.9% | +31.9% | +33.5% | |
| Dividend / share (₹) | 2.50 | 3.00 | 3.50 | 4.00 | 4.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +19.3% | +22.9% | +25.2% |
| Net profit | +24.4% | +27.4% | +33.5% |
| EPS | +22.0% | +25.8% | – |
| Share price | – | +2.1% (2y) | +2.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,589 | 3,148 | 5,786 | 6,665 |
| Borrowings | – | 135 | 134 | 178 | 186 |
| Cash & equivalents | – | 537 | 700 | 1,915 | 1,513 |
| Total assets | – | 3,770 | 4,656 | 7,235 | 8,956 |
| Fixed assets | – | 484 | 541 | 756 | 1,307 |
| Capital work in progress | – | 15 | 121 | 385 | 1,002 |
| Investments | – | 1 | 2 | 2 | 2 |
| Receivables | – | 1,388 | 1,518 | 1,797 | 1,842 |
| Inventory | – | 1,102 | 1,343 | 1,730 | 2,401 |
| Payables | – | 748 | 1,008 | 779 | 1,335 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 229 | 514 | 610 | -32 | 840 |
| Cash from investing | -58 | -137 | -353 | -1,501 | -350 |
| Cash from financing | -31 | -256 | -72 | 1,919 | -98 |
| Capex | 60 | 76 | 256 | 691 | 1,132 |
| Free cash flow | 169 | 438 | 355 | -724 | -292 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 18.4% | 18.4% | 12.0% | 13.8% |
| ROCE % | – | 24.8% | 25.1% | 16.6% | 18.9% |
| Debtor days | – | 73 | 68 | 67 | 57 |
| Inventory days | – | 78 | 81 | 86 | 99 |
| Payable days | – | 53 | 61 | 39 | 55 |
| Cash conversion cycle (days) | – | 98 | 88 | 114 | 101 |
| Working capital days | – | 108 | 102 | 161 | 127 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 35.00% |
| FIIs | 26.14% |
| DIIs | 26.26% |
| of which Mutual funds | 23.00% |
| of which Insurance | 2.56% |
| Government | 0.00% |
| Public (non-institutions) | 12.61% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 35.02% | 35.02% | 35.02% | 35.00% | 35.00% | 35.00% | 35.00% | 35.00% |
| Promoter group | % |
|---|---|
| Anil Gupta | 11.39% |
| Projection Financial & Management Consultants Private Limited | 8.26% |
| ANIL GUPTA HUF (Karta- Anil Gupta) | 4.86% |
| Shubh Laxmi Motels & Inns Private Limited | 3.64% |
| Soubhagya Agency Private Limited | 3.27% |
| KEI Cables Private Limited | 1.65% |
| Dhan Versha Agency Private Limited | 1.05% |
| Archana Gupta | 0.88% |
| Akshit Diviaj Gupta | 0.00% |
| KEI International Limited | 0.00% |
| KEI Power Limited | 0.00% |
| Physio Active Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Kotak Mahindra Trustee Co Ltd A/C Kotak Nifty 500 Momentum 50 Index Fund | 4.80% |
| Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund | 4.37% |
| ICICI Prudential Nifty 200 Momentum 30 Index Fund | 3.41% |
| Government Pension Fund Global | 3.33% |
| Smallcap World Fund, INC | 2.12% |
| Canara Robeco Mutual Fund A/C Canara Robeco Manufacturing Fund | 1.46% |
| Edelweiss Nifty Largemidcap250 Plus 8-13 YR G-sec 70:30 Index Fund | 1.21% |
| HSBC Mutual Fund - HSBC Equity Savings Fund | 1.01% |
1,74,384 shareholders. Pledged: 0.00% of promoter shares.
Peers in Cables - Electricals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| POLYCAB | ₹1,16,621 cr | 36.8x | 8.9x | 26.6% | 34.6% | 13.5% | +27.0% | 0.47% |
| KEI | ₹37,279 cr | 35.3x | 5.2x | 15.8% | 19.8% | 11.0% | +19.3% | 0.12% |
| RRKABEL | ₹24,700 cr | 40.6x | 9.6x | 25.7% | 31.9% | 8.5% | – | 0.34% |
| FINCABLES | ₹17,508 cr | 21.9x | 2.9x | 13.8% | 16.5% | 13.2% | +12.2% | 0.01% |
| UNIVCABLES | ₹4,616 cr | 23.0x | 2.4x | 10.9% | 9.2% | 8.7% | +11.1% | 0.30% |
| LASERPOWER | ₹2,366 cr | – | – | – | – | – | – | – |
| LUMINO | ₹2,189 cr | – | – | – | – | – | – | – |
| PARACABLES | ₹1,820 cr | 30.0x | 2.3x | 8.2% | 11.9% | 4.3% | +33.9% | – |
| DYCL | ₹1,722 cr | 18.9x | 3.8x | 21.9% | 26.9% | 10.9% | +21.4% | 0.07% |
| QUADFUTURE | ₹1,578 cr | – | 6.1x | -13.9% | -16.8% | -19.8% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Segment - Cables & Wires | ₹11,221 cr | 93.5% | ₹1,301 cr | 11.6% |
| Segment-EPC Project | ₹561 cr | 4.7% | ₹19 cr | 3.5% |
| Segment-Stainless Steel Wire | ₹216 cr | 1.8% | ₹17 cr | 7.9% |
| Unallocated Segment | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-01-28 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2025-01-27 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2024-09-04 | Other | Annual General Meeting |
| 2024-03-19 | Dividend | Interim Dividend - Rs 3.50 Per Share |
| 2023-08-25 | Other | Annual General Meeting |
| 2023-02-03 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2022-08-29 | Other | Annual General Meeting |
| 2022-02-07 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2021-08-31 | Other | Annual General Meeting |
| 2021-03-09 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2020-09-01 | Other | Annual General Meeting |
| 2020-03-19 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2019-09-06 | Dividend | Annual General Meeting/Dividend - Rs 1.20 Per Share |
| 2018-09-11 | Dividend | Annual General Meeting/Dividend- Re 1 Per Share |
| 2017-07-11 | Dividend | Dividend - Re 0.60 Per Share |
| 2016-08-29 | Dividend | Annual Genaral Meeting/ Dividend - Re 0.50/- Per Share (Book Closure Start Date Revised) |
| 2015-09-08 | Dividend | Annual General Meeting/ Dividend - Re 0.40/- Per Share |
| 2014-09-11 | Dividend | Annual General Meeting / Dividend - Re 0.20/- Per Share |
| 2013-06-13 | Dividend | Annual General Meeting And Dividend Re.0.20/- Per Equity Share |
| 2012-09-06 | Dividend | Annual General Meeting And Dividend Re.0.20 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Wires and Cables Segment: Manufacturing and selling of Wires and Cables
- Stainless Steel Wires Segment: Manufacturing and selling of Stainless Steel Wires
- Turnkey Projects / Engineering, Procurement and Construction (EPC)* Projects Segment: Design, Engineering, Supply, Erection, Testing and Commissioning of Projects
| Sector | Industrials |
| Industry | Cables - Electricals |
| Sub-industry | Cables - Electricals |
| Symbol | KEI |
| BSE code | 517569 |
| ISIN | INE878B01027 |
| Face value | ₹2.0 |
| Incorporated | 1992-12-31 |
| Website | www.kei-ind.com |
| Plants (India / abroad) | 10 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.