KEI Industries delivers stable Q1FY19 numbers

KEI Industries reported its results for the quarter ended June 30, 2018 on Thursday after market hours.

The company’s standalone revenue for the quarter came in at Rs. 884 crore, registering 7.3 per cent yoy increase. Sales from EPC division stood at Rs. 158 crore as against Rs. 174 crore in the corresponding quarter last year. Further, sales from EHC Cables stood at Rs. 39 crore as against Rs. 59 crore in the corresponding quarter last year. The company's exports stood at Rs.79 Crore against last year same period of Rs.110 Crore.

EBITDA for the quarter rose by 12.2 per cent yoy to Rs. 86.35 crore with a corresponding margin expansion of 43 bps. EBITDA margin for the quarter stood at 9.8 per cent. The PAT for the quarter came in at Rs. 32.18 crore, yoy increase of 17.1 per cent.

During Q1FY19, under Cable division, the company received a single order of 220 KV EHV Cable of Rs. 129 crore from HPCL, Vishakhapatnam and the total order book position is more than Rs. 400 crore. The management is expecting 100 per cent growth of EHV Cable business in the current financial year. Overall, the company is expecting 15-18 per cent volume growth in the said division for FY19.

Recently, the company has received LOI of Rs. 400 crore order from African market apart from pending order of export of Rs. 195 crore. On the basis of good demand & current order book position, the company is expecting decent growth from export in FY19. On the order front, the pending orders as on June 30, 2018 stood at Rs. 4,191 crore.

KEI Industries Limited is one of the leading wire and cable manufacturers in India. It is the third largest cable manufacturer in India with a market share of around 8 per cent.

On Friday, the stock opened at Rs. 420 per share and made an intraday low of Rs. 400 on the BSE.