KEI Industries shares close lower ending 2-day rally after Q4 results

Electrical wire and cable manufacturer KEI Industries Ltd shares were in focus on Friday, May 3, after the company reported strong numbers for the quarter and financial year ended March 31, 2024.

KEI Industries shares rallied to an intraday high after trading at ₹4,102 apiece, after opening at ₹4,100 apiece on the NSE. Shares of KEI Industries closed 2.49% lower at ₹3,899.6 apiece on the NSE snapping the rally in the past two consecutive sessions.

In its quarterly earnings report released on Thursday, the company posted an 18.76% rise in its standalone revenue at ₹2,319 crore in Q4FY24 against ₹1,953 crore in the same quarter in the preceding financial year.

The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) grew 24.34% on a year-on-year basis, rising from ₹209 crore to ₹260 crore in Q4FY24. The wire maker’s Profit After Tax (PAT) grew 22.21% year-on-year to ₹169 crore in the March quarter against ₹138 crore a year ago.

For FY24 the company reported a rise of 17.31% in revenue on a year-on-year basis to ₹8104 crore in FY24, compared to ₹6,908 crore in FY23. The company’s EBITDA margin grew to 10.94% as against 10.62% on a year-on-year basis. The company’s PAT grew by 21.72% year-on-year from ₹477 crore in FY23 to ₹581 crore in FY24.

KEI Industries is a leading player in the cables and wires industry. The company is focused on the production of rubber cables for house wiring. The company operates through a network of over 30,000 channel partners, and caters to clients in more than 55 countries globally. The company’s product portfolio primarily includes extra-high voltage (EHV), medium voltage (MV) and low voltage (LV) power cables.