Q4 2025 KEI Industries Ltd Earnings Call Transcript
Key Points
- KEI Industries Ltd (BOM:517569) reported a 25.1% increase in net sales for Q4, reaching INR2,914.8 crore.
- The company's EBITDA grew by 30.3% during Q4, with an EBITDA/net sales margin of 11.61%, up from 11.15% the previous year.
- Profit after tax for the quarter increased by 34.2% to INR226 crore, with a net sales margin of 7.77%.
- Export sales saw significant growth, with a 92% increase in Q4, highlighting the company's focus on expanding its international market presence.
- The company has a strong order book of INR3,839 crore, including substantial orders for extra-high voltage cables, indicating future growth potential.
- EPC sales, excluding cables, declined by 63% in Q4, impacting the company's operating margin by approximately 0.5%.
- The extra-high voltage cable sales decreased by 48% during the quarter, affecting overall profitability.
- Despite the increase in export sales, the gross margin did not reflect the expected improvement, partly due to lower EHV sales.
- The company's working capital saw significant swings, with cash flow from operations dropping from INR815 crore to INR200 crore.
- There is a potential risk of increased competition in the sector, which could impact margins as new players enter the market with large CapEx plans.
Ladies and gentlemen, good day. Welcome to the KEI Industries Limited Q4 and FY25 earnings conference call, hosted by Nuvama Institutional Equities.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Achal Lohade from Nuvama Institutional Equities. Thank you. And over to you, sir.
Yes. Thank you, Manav. Good afternoon, everyone.
On behalf of Nuvama Institutional Equities, we are glad to host the senior management of KEI Industries. We have with us Mr. Anil Gupta, Chairman and Managing Director of the company; Mr. Rajeev Gupta, Executive Director, Finance, and CFO.
We will start the call with opening remarks from the management; and then, move to Q&A.
Thank you. And over to you, Anil and Rajeev.
Good afternoon, dear colleagues. Thank you
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