KEI Industries (517569) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 net sales reached INR 3,477 crore, up 19.27% year-over-year, with PAT at INR 284.31 crore, growing 25.5%, and EBITDA margin improving to 12.21%.

• FY26 net sales were INR 11,748 crore, a 20.66% increase over the previous year, with PAT at INR 918 crore and a PAT margin of 7.82%.

• Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026 were approved, with statutory auditors issuing an unmodified opinion.

• Interim dividend of ₹4.50 per share (225% of face value) was declared and paid, proposed as final dividend for FY 2025-26.

• QIP raised ₹20,000 million in November 2024, with net proceeds of ₹19,656.33 million; ₹4,645.10 million remains unutilized and invested in bank deposits.

Financial highlights

• Q4 FY26 EBITDA was ₹424 crore, up 25.43% year-over-year; PAT was ₹284 crore, up 25.50% year-over-year.

• FY26 EBITDA reached ₹1,388 crore, up 30.56% year-over-year; PAT was ₹918 crore, up 31.88% year-over-year.

• Standalone revenue from operations for FY 2026 was ₹117,477.65 million, up from ₹97,358.77 million year-over-year.

• Standalone net profit for FY 2026 was ₹9,184.33 million, compared to ₹6,964.14 million in FY 2025.

• Cash and cash equivalents as of March 31, 2026 stood at ₹14,440.39 million, up from ₹10,517.41 million a year earlier.

Outlook and guidance

• Projected 17%-18% volume growth for FY27, mainly from the new Sanand facility.

• FY28 volume growth expected to be around 20% as Sanand ramps up.

• Operating margin guidance for FY27 is 10.5%-11%.

• Export share targeted at 20% of total sales in FY27, with renewed focus on the U.S. market.

• The company will evaluate and account for the impact of new Indian Labour Codes, effective November 21, 2025, as rules are notified.