KEI Industries shares drop 7% as Q4 earnings fail to impress investors; here’s what analysts said

KEI Industries shares slipped as much as 7% to touch an intraday low of ₹4,720.10 apiece on Tuesday, May 5, as its March quarter earnings failed to impress the Street.

The company’s consolidated net profit for the quarter ended March 31, 2026, (Q4 FY26) grew 18% to ₹93 crore as compared to ₹79 crore in the same quarter of the previous fiscal year.

Its revenue from operations also increased 19.2% year-on-year (YoY) to ₹3,476 crore as against ₹2,915 crore in the year-ago period.

On the operational front, KEI Industries' earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 26.7% to ₹381 crore from ₹301 crore in Q4 FY25.

Its operating profit margin, or EBITDA margin, expanded to 10.9% in Q4 FY26 in contrast to 10.3% in Q4 FY25.

KEI Industries reported a strong performance in FY26 compared to FY25, with revenue increasing by 20.66% YoY. Its profitability also improved during the period, as EBITDA margin rose to 11.81% from 10.92% in the previous year. Additionally, the company said its PAT margin expanded to 7.82% in FY26, up from 7.15% in FY25.

By the end of the quarter, the firm has a pending order book of approximately ₹3,585 crore.

In Q4 FY26, KEI Industries’ domestic institutional cable and wire sale was at ₹804 crore as against ₹760 crore YoY. The company’s total institutional cable and wire sales, including exports, contributed 40.3% in Q4 FY26 compared to 45.5% in Q4 FY25.

Here’s what analysts said

Analysts at Morgan Stanley said KEI Industries reported a Q4 PAT beat driven by stronger margins, despite softer volume growth. They noted that domestic cables and wires revenue grew 23% while exports remained weak and expect revenue growth to be supported largely by higher commodity prices and rupee depreciation.

However, analysts also cautioned about potential margin pressure due to rising competition in the wires segment. They have also cut FY27 and FY28 EPS estimates by 3–4%.

KEI Industries share price

At 12 PM, KEI Industries shares were trading at ₹4,950.40 apiece on the National Stock Exchange, falling 2.13%.

In a month, shares of the firm have surged 20%, while for six months’ time, they have advanced 26%. From the beginning of the year, KEI Industries shares have climbed 10%.

The company has a market capitalisation of ₹47,341.41 crore.

Shares of the company had touched their one-year high of ₹5,303 apiece on March 2, 2026, while their 52-week low of ₹3,000 was hit on April 30, 2025.

Founded in 1968, KEI Industries Limited specialises in manufacturing and marketing a broad portfolio of electrical wires and cables, including house wires, power cables (EHV, MV, and LV), solar cables, and stainless steel wires.