KEICapital Goods

KEI Industries Limited

Cables - Electricals · ISIN INE878B01027 · BSE 517569 · NSE EQ · FV ₹2
Last price
₹4,560
+1.20%today
What this company does

KEI Industries Limited operates in Cables - Electricals, part of the Capital Goods sector. It booked ₹3,185 cr of revenue in its latest quarter (Q1 FY27) and kept 8.6% of sales as profit. It is the 2nd largest of 9 Cables - Electricals companies we track, by market value.

65out of 100
Equitytale Health Score
Solid

Healthier than 65% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns60

How much profit it earns on the money it employs

Balance sheet71

How much it owes, and whether earnings cover the interest

Cash quality57

Whether reported profit actually arrives as cash

Growth & consistency70

Whether sales and profit have grown, and how steadily

Valuation55

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 23% vs last year
Profit up 40% vs last year
No promoter shares pledged
Strong 16% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in KEI?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹4,560 +1.20%
latest close · 2026-09-17
1-year return
+528.4%
52-wk low ₹71652-wk high ₹5,899
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio39.7High
LowAverageHigh
P/B ratio6.54High
Below bookModerateHigh
EV / EBITDA25.5High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity16.5%Strong
WeakFairStrong ▸15%
Return on capital22.5%Strong
WeakFairStrong
Net margin8.6%Decent
ThinDecentStrong
EBITDA margin13.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.03Comfortable
LowModerateHigh ▸1
Interest cover21.9×Strong
RiskyOkayStrong ▸5×
Current ratio2.96Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹43,594 cr
Book value
₹697
EPS
₹28.68
latest quarter
Net debt
₹-1,258 cr
more cash than debt
Enterprise value
₹42,336 cr
EBITDA
₹1,662 cr
annualised
EBIT
₹1,547 cr
annualised
Operating margin
12.1%
Return on assets
12.2%
Earnings yield
2.52%
P/S
3.42
Sales / share
₹1,332.8
Tax rate
25.7%
Face value
₹2
Shares
9.6 cr
Working capital
₹4,079 cr
Current assets
₹6,157 cr
Current liabilities
₹2,078 cr
Delivery %
45.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹937₹1,072, midpoint ₹1,005

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹3,185 cr
Other Income₹20 cr
Total Income₹3,205 cr
Cost of Materials₹2,987 cr
Purchases of Stock-in-Trade₹58.7 L
Inventory Change (±)₹-605 cr
Employee Benefit Expense₹104 cr
Finance Costs₹18 cr
Depreciation & Amortisation₹29 cr
Other Expenses₹303 cr
Total Expenses₹2,836 cr
Profit before Tax₹369 cr
Tax Expense₹95 cr
Net Profit₹274 cr
Net margin on total income8.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹2,382 cr74.3%
Employee benefit expense₹104 cr3.3%
Finance costs₹18 cr0.6%
Depreciation & amortisation₹29 cr0.9%
Other expenses₹303 cr9.4%
Tax expense₹95 cr3.0%
Profit for the period₹274 cr8.6%
Total income ₹3,205 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue2,955 cr3,476 cr3,185 cr
Total income2,989 cr3,519 cr3,205 cr
Expenses2,674 cr3,142 cr2,836 cr
Profit before tax315 cr377 cr369 cr
Tax80 cr93 cr95 cr
Net profit (owners' share)235 cr284 cr274 cr
Net margin (owners' share, on revenue)7.9%8.2%8.6%
EPS (₹)24.5729.7428.68
YoY (latest quarter): total income +21.9% · net profit +40.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹8,956 cr
Shareholder equity
₹6,665 cr
parent shareholders
Total debt
₹186 cr
Cash
₹1,444 cr
Cash flow · H1 FY26
Operating
₹383 cr
Investing
₹-194 cr
Financing
₹-29 cr
Peer comparison
Cables - Electricals · by market value
CompanyPriceMarket capP/E
Polycab India Limited₹8,209₹1.24 L cr39.4
KEI Industries Limitedthis company₹4,560₹43,594 cr39.7
R R Kabel Limited₹2,391₹27,060 cr32.9
Finolex Cables Limited₹1,396₹21,349 cr21.4
Universal Cables Limited₹1,439₹4,992 cr17.8
Laser Power & Infra Limited₹269₹3,095 cr37.4
Dynamic Cables Limited₹442₹2,144 cr21.5
Quadrant Future Tek Limited₹522₹2,086 cr
Paramount Communications Limited₹61₹1,853 cr23.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.10%
trailing 12 months
Dividend / share (TTM)
₹4.5
Last dividend
₹4.5
ex 28 Jan 2026
ActionDetailEx-date
Dividend₹4.5 / share28 Jan 2026
Dividend₹4 / share27 Jan 2025
Dividend₹3.5 / share19 Mar 2024
Dividend₹3 / share3 Feb 2023
Dividend₹2.5 / share7 Feb 2022
Dividend₹2 / share9 Mar 2021
Who owns it · 2026-06-30
No pledge
Promoter
35.0%
FII / Foreign
27.3%
DII / Domestic
25.9%
Retail / others
11.8%
Promoter stake down 2.1% over the last 12 quarters.
Smart-money activity
Insider trades
SoldDilip Kumar Barnwal · Designated Person2,500 · ₹1.4 cr18 Aug 26
SoldKishore Kunal · KMP1,000 · ₹56.7 L12 Aug 26
SoldKishore Kunal · KMP500 · ₹28.2 L10 Aug 26
Bulk / block deals
short · NSE5154 Sep 26
short · NSE1,3663 Sep 26
short · NSE102 Sep 26
Stake changes
BoughtKotak Mahindra Mutual Fund→ 5.11% · 1.06 L10 Jul 25
SoldSMALLCAP World Fund, Inc.→ 3.00% · 18.16 L28 Jun 24
SoldAnil Gupta · promoter→ 12.08% · 2.00 L31 Mar 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 30 Jul 2025
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, the Report of Board of Directors and Auditors of the Company thereon and the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 and the Report of Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.75 cr votes for, 9,125 against · 0% of mutual funds and other big investors said no
2
To confirm the payment of Interim Dividend of Rs.4.00 per equity share already paid during the year as the Final Dividend for the Financial Year 2024-25.
Backed by 100% of shareholders other than promotersneeded 50%
4.75 cr votes for, 2 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Akshit Diviaj Gupta (holding DIN: 07814690), who retires by rotation and being eligible, offers himself for reappointment.
Backed by 95% of shareholders other than promotersneeded 50%
4.50 cr votes for, 25.39 L against · 5% of mutual funds and other big investors said no
4
Ratification of Remuneration of M/s. S. Chander & Associates, Cost Accountants, appointed as Cost Auditors of the Company.
Backed by 100% of shareholders other than promotersneeded 50%
4.75 cr votes for, 153 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 12 named members
owning 35.0% between them · as of 2026-06-30
ANIL GUPTA11.39%
Projection Financial & Management Consultants Private Limited8.26%
ANIL GUPTA HUF (Karta- Anil Gupta)4.86%
Shubh Laxmi Motels & Inns Private Limited3.64%
Soubhagya Agency Private Limited3.27%
KEI Cables Private Limited1.65%
Dhan Versha Agency Private Limited1.05%
ARCHANA GUPTA0.88%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹2,000 cr raised in Nov 2024 by selling shares to large investors

As of Jun 2026, the company says it has spent 89% of what it set aside, leaving ₹215 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Partial funding for setting up a cable manufacturing facility at Sanand, Ahmedabad, Gujarat
85%
₹1,235 cr of ₹1,450 cr
Repayment/pre-payment, in part or in full, of certain outstanding borrowings availed by the Company
100%
₹276 cr of ₹276 cr
General Corporate Purposes
100%
₹240 cr of ₹240 cr
Spent by quarter: 30%45%63%72%80%89% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.