KEI Industries Ltd Share Price – NSE /  BSE

Cables, Small Cap

Revenue from operations jumped 17.21% year on year (YoY) to Rs 2,279.65 crore in Q2 FY25.

In Q2 FY25, profit before tax stood at Rs 207.87 crore, registering a 10.32% growth from Rs 188.42 crore reported in Q2 FY24.

EBITDA stood at Rs 238 crore in Q2 FY25, registering the growth of 12.30% as compared with Rs 211 crore recorded in corresponding quarter last year. EBITDA margin declined to 10.42% in Q2 FY25 as against 10.88% reported in Q2 FY24.

During the quarter, the company's revenue from cables and wires was Rs 2,140.23 crore (up 20.62% YoY) and revenue from stainless steel wire was at Rs 59.82 crore (up 1.96% YoY).

However the company's revenue from EPC Projects fell 58.20% YoY to Rs 130.87 crore in Q2 FY25.

The company’s pending orders stood at approximately Rs 3,847 crore.

On half-year basis, the company's net profit rose 16.62% to Rs 305.07 crore on 16.50% increase in revenue to Rs 4,340.14 crore in H1 FY25 over H1 FY24.

Meanwhile, the company's board has approved the raising of funds through the issuance of equity shares or other eligible securities for an aggregate amount of up to Rs 2,000 crore via Qualified Institutional Placement (QIP). This is subject to obtaining approval from the shareholders through a postal ballot and any other necessary regulatory or statutory approvals.

KEI Industries is involved in manufacturing low tension, high tension and extra high voltage cables, along with control and instrumentation and specialty cables, house wires and stainless-steel wires.

The scrip declined 7.40% to Rs 4,339.95 on the BSE.

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The key equity indices traded with limited losses in early trade. The Nifty traded below the 25,050 mark. Oil & gas, PSU bank and financial services shares advanced while auto, IT and FMCG shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 130.37 points or 0.16% to 81,700.58. The Nifty 50 index lost 40.65 points or 0.16% to 25,016.70.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.17%.

The market breadth was strong. On the BSE, 1,581 shares rose and 999 shares fell. A total of 137 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,748.71 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,654.96 crore in the Indian equity market on 15 October 2024, provisional data showed.

Stocks in Spotlight:

KEI Industries tumbled 5.13%. The company’s consolidated net profit jumped 10.71% to Rs 155 crore as compared with Rs 140 crore in Q2 FY24. Revenue increased 17.22% YoY to Rs 2,280 crore in during the quarter. The board approved to raise Rs 2000 crore from QIP.

Rallis India soared 11.21% after the company reported a 20% jump in standalone net profit to Rs 98 crore during the quarter as compared with Rs 82 crore in Q2 FY24. Revenue increased 11.5% to Rs 928 crore in Q2 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.55% to 6.874 as compared with previous close 6.880.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.0625, compared with its close of 84.0425 during the previous trading session.

MCX Gold futures for 4 December 2024 settlement rose 0.12% to Rs 76,455.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 103.20.

The United States 10-year bond yield declined 0.90% to 4.088.

In the commodities market, Brent crude for December 2024 settlement added 18 cents or 0.24% to $74.43 a barrel.

Global Markets:

Most Asian stocks traded lower on Wednesday, primarily due to a weak outlook from ASML, a leading chipmaker. Cooling optimism about Chinese stimulus measures also contributed to the market's downturn.

Regional markets followed Wall Street's lead, where a drop in chipmaking stocks pulled U.S. benchmarks from record highs. At the close in NYSE, the Dow Jones Industrial Average lost 0.75%, while the S&P 500 index fell 0.76%, and the NASDAQ Composite index lost 0.98%.

ASML, a major supplier of chipmaking equipment, provided disappointing sales guidance for 2025, citing softer demand in non-AI sectors. Its U.S. shares plummeted 16% overnight.

NVIDIA, a market darling, fell 4.5%, while AMD and Intel declined by 5.2% and 3.3%, respectively. All three stocks stabilized after the market closed.

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Securities in F&O ban:

Bandhan Bank, Chambal Fertilizers & Chemicals , Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India , Hindustan Copper, IDFC First Bank, IEX, Manappuram Finance, National Aluminium, PNB, RBL Bank, Sail, Tata Chemical.

Upcoming results:

Bajaj Auto, Crisil, Himadri Speciality Chemical, L&T Technology Services, Mphasis.

Stocks to watch:

KEI Industries’ consolidated net profit jumped 10.71% to Rs 155 crore as compared with Rs 140 crore in Q2 FY24. Revenue increased 17.22% YoY to Rs 2,280 crore in during the quarter. The board approved to raise Rs 2000 crore from QIP

Rallis India reported a 20% jump in standalone net profit to Rs 98 crore during the quarter as compared with Rs 82 crore in Q2 FY24. Revenue increased 11.5% to Rs 928 crore in Q2 FY25.

Ceigaill India was declared as level 1 bidder for a project worth Rs 207 crore in Jharkhand.

PNC Infratech has received two letters of acceptance from the Maharashtra State Road Development Corp. for contracts aggregating Rs 4,630 crore. The first order of Rs 2,268 crore includes construction of the access-controlled Pune Ring Road in Pune district. The second contract of Rs 2,362 crore involves constructing an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra.

G R Infraprojects has received a letter of acceptance from Maharashtra Government for a Rs 1,886 crore project.

Power Finance Corporation arm transfers units Jamnagar Transmission and Naval Transmission to Adani Energy Solutions.

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Net profit of KEI Industries rose 10.41% to Rs 154.81 crore in the quarter ended September 2024 as against Rs 140.21 crore during the previous quarter ended September 2023. Sales rose 17.21% to Rs 2279.65 crore in the quarter ended September 2024 as against Rs 1944.91 crore during the previous quarter ended September 2023.

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