KEI Industries Q1 revenue rises to ₹1,790.90 crore

livemint.com:

KEI Industries Limited on Monday reported a revenue at ₹1,790.90 crore for the first quarter ended June 30, 2023, as compared to ₹1,568.94 crore a year ago. Its sales for the June quarter of fiscal year 2024 stood at ₹1,782.57 crore as compared to ₹1,565.41 crore a year ago.

For the first quarter of FY24, KEI Industries’ net income increased at ₹121.38 crore as against ₹103.76 crore in the same period of previous fiscal year. Basic earnings per share (EPS) from continuing operations was at ₹13.46, the company said.

Diluted earnings per share from continuing operations was at ₹13.43. KEI manufactures and markets power cables - low tension, high tension and EHV, house wire, stainless steel wire catering sectors such as power, oil refineries, railways, automobiles, cement, steel, fertilizers, textile and real estate, among others.

In FY23, KEI’s revenue increased 21% year-on-year (YoY) at ₹6,912 crore, led by growth of 23% in the winding and house wire segment, 20% YoY in the cable segment, and 10% YoY in the stainless-steel wire segment. As on 31 March 2023, KEI had an order book of ₹3,568 crore; 40% of the orders were from the cables division, 24% from the EHV cables division, 27% from the EPC division and 9% from cable exports.