KEI Industries Limited — Important, 21-11-2024: General Updates

**Financial Highlights:** KEI Industries reported FY24 revenues of INR 81,041 Mn, with EBITDA at INR 8,862 Mn, reflecting a margin of 10.94%. In H1 FY25, the company achieved revenue of INR 43,401 Mn, a 16.5% YoY increase. PAT also showed strong growth, rising to INR 3,051 Mn, up 16.62% from H1 FY24.

**Strategic Initiatives and Growth Drivers:** KEI aims to gain market share in the EHV segment through capacity expansion and increased focus on exports, anticipating a significant rise in international revenue. The company is committed to growing its retail segment as well.

**Business Developments:** KEI is diversifying its portfolio with a strong presence across various sectors, including power, oil and gas, and construction, while maintaining a healthy order book of INR 39,333 Mn as of September 2024.

**Market Position and Competitive Advantage:** KEI's diverse product range, spanning power and specialty cables, combined with low customer concentration (top 10 customers contributing only 18% of sales), positions it well against competitors amid rising market demand driven by government initiatives and the construction boom.

**Investor Implications:** With a stable EBITDA margin and robust PAT growth, KEI Industries shows a positive outlook. The sustained focus on capacity expansion and diversification makes it a strong player in the cables and wires sector, inviting continued observation for potential growth opportunities.