KEI Industries (517569) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue rose 19.81% year-over-year to ₹2,467 crore; EBITDA up 11.25% YoY to ₹254 crore; PAT up 9.38% YoY to ₹165 crore.

• 9M FY25 revenue increased 17.68% YoY to ₹6,807 crore; EBITDA up 15.56% YoY to ₹724 crore; PAT up 13.97% YoY to ₹470 crore.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024, were reviewed and approved by the Audit Committee and Board on January 21, 2025.

• Statutory auditors conducted a limited review and expressed an unmodified opinion on both standalone and consolidated results.

Financial highlights

• Consolidated revenue from operations for Q3 FY25 was ₹24,672.67 million, up from ₹20,593.68 million in Q3 FY24; nine-month revenue was ₹68,074.12 million, up from ₹57,848.05 million year-over-year.

• Net profit for Q3 FY25 stood at ₹1,648.05 million, compared to ₹1,506.73 million in Q3 FY24; nine-month net profit was ₹4,698.66 million, up from ₹4,122.58 million year-over-year.

• Q3 FY25 EBITDA margin at 10.31% vs 11.11% YoY; PAT margin at 6.68% vs 7.32% YoY.

• 9M FY25 EBITDA margin at 10.64% vs 10.84% YoY; PAT margin at 6.90% vs 7.13% YoY.

• Standalone financial charges in Q3 FY25 were ₹14.27 crore (0.58% of net sales), up from ₹10.92 crore (0.53%) YoY.

Segment performance

• Cables & Wires segment contributed the largest share of revenue, followed by EPC Projects and Stainless Steel Wire.

• Institutional cable sales (including export) grew 18.22% YoY in Q3 FY25; contributed 44.82% of Q3 sales.

• Dealer/distribution sales up 31.35% YoY in Q3 FY25, contributing 50.55% of Q3 sales.

• EPC sales (excluding cable) declined 58.94% YoY in Q3 FY25; EPC contributed 3.98% in 9M FY25.

• SS wire sales up 18.79% YoY in Q3 FY25.