KEI Industries approved standalone un-audited financial results

KEI Industries approved, financial results, EHV Cable production, Anil Gupta, Chairman & Managing Director, KEI Industries Limited
New Delhi : KEI Industries limited at the meeting of its board of directors held on oct. 31, approved standalone un-audited financial results for the quarter and half year ended sept. 30th. During the 2nd Quarter of FY 2018-19 Net Sales was Rs.996.79 Crore, against same quarter in previous year of Rs.748.82 Crore, growth in Net Sales is approx. 33.11% over corresponding 2nd Quarter last year. Operating Profit during this Quarter was Rs.100.84 Crore against same quarter in the previous year of Rs.76.25 Crore, growth in Operating Profit is approx. 32.24% over previous period.

Further, PAT during this Quarter was Rs.41.37 Crore against same quarter in the previous year of  Rs. 28.50 Crore, growth in PAT is approx. 45.18% over previous period. PAT/Net Sale is  4.15%  against 3.81%. Further, EBIDTA/Net Sale this quarter was Rs 10.12% against 10.18%. Volume growth in Cable Division in Q2 is approx. 23% as compared to previous year same period.

During the 1st half of FY 2018-19 Net Sales was Rs. 1880.69 Crore, against same period in previous year of Rs.1526.79 Crore, growth in Net Sales is approx. 23.18% over corresponding period last year. Operating Profit during the first half was Rs.186.98 Crore against same period in the previous year of Rs.153.05 Crore, growth in Operating Profit is approx. 22.17% over previous period.

Further PAT has grown by 31.40% as against last year same period. PAT Margin has improved from 3.67% to 3.91% as against last year same period because Finance Cost has reduced from 3.75% to 3.14%. Volume growth in Cable Division during first half is approx. 21% as compared to previous year same period.

During the 2nd Quarter of FY 2018-19, Institutional sale (Domestic) is Rs 387 Crore against last year same period of Rs 245 Crore, out of which EHV Sale was Rs 7 Crore in this quarter against Rs 19 Crore in same period last year, because of delayed clearance of production of EHV cables from the customers.

Now, from October onwards, EHV Cable production capacity will almost be fully utilised. Institutional sale (Export) is Rs 121 Crore as against Rs 137 Crore last year. So, total Institutional sales is Rs. 508 Crore in 2nd Quarter as compared to Rs. 382 Crore last year same period. Total Institutional Sale growth in this quarter was 33%. Company is expected to achieve growth in the current FY 2018-19 by 18 - 20% in volume terms in Cable Division.



Anil Gupta, Chairman & Managing Director- KEI Industries Limited, said that, "We have seen an exciting growth in net sales (Rs.996.79 Cr) in second quarter this year registering a strong growth of approx 33% as compared to the subsequent quarter in last year (Rs.748.82 Cr). Our focus on retail business has increased in last few years and so, we had strengthened our distribution network, which is now showing a positive result and we are hopeful to achieve 35 % growth in retail segment by end of this financial year."

He further added that, "Considering the continuous burgeoning demand, we are also working on increasing production capacity, as in the 1st Phase of LT Power Cable at our new factory in Pathredi is completed and in now 2nd Phase, HT Power Cable expansion is expected to get over by February-March 2019.  With the positive demand in the market, we foresee positive growth this year as well."

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