To follow the present demands of the market, KEI set foot into the manufacturing of EHV cables up to 220kV in collaboration with BRUGG Kables, a century old Swiss company.

For the quarter ended June 18, sales grew by around 12% YoY basis to Rs 883.89 crore. Volume growth was at 17% YoY. OPM was flat at 9.7% thus, resulting the OP growth to 12% to Rs 86.14 crore. Other income stood at Rs 1.14 crore down by 27% YoY. Interest costs were lower by 4% to Rs 28.66 crore and depreciation cost rose 5% to Rs 8.35 crore. Thus, PBT was up by 24% to Rs 50.27 crore. After paying total tax of Rs 18.09 crore, up by 40%, PAT increased by 17% to Rs 32.18 crore for June 18 quarter.

Segment results for the quarter ended June 18

For the quarter, sales from the Cables segment stood at Rs 697.78 crore and accounted for 73% of sales. PBIT from the same was higher by 6% to Rs 72.69 crore and accounted for 72% of total.

For the quarter, sales from the stainless steel wire Segment stood at Rs 31.06 crore and accounted for 3% of sales. PBIT from the same was up by 87% to Rs 3.16 crore and accounted for 3% of total.

For the quarter, sales from the Turnkey division Segment stood at Rs 225.36 crore and accounted for 24% of sales. PBIT from the same was up by 24% to Rs 25.76 crore and accounted for 25% of total.

Performance for 12 months ended Mar 18

For 12 months ended Mar 18, net sales were up by 32% to Rs 3458.80 crore. OPM was lower by 40 bps to 9.8%, thus restricting the OP growth to 26%. Other income was lower by 8% to Rs 9.30 crore.

Interest was lower by 11% to Rs 111.30 crore. Depreciation was up by 13% to Rs 32.23 crore. After providing total tax of Rs 59.60 crore, PAT for 12 months ended Mar 18 stood at Rs 144.56 crore, up by 54% YoY.

Segmental results for 12 months ended Mar 18

For the 12 months, sales from the Cables segment stood at Rs 2726.53 crore and accounted for 72% of sales. PBIT from the same was up by 11% to Rs 295.55 crore and accounted for 73% of total.

For the 12 months, sales from the stainless steel wire Segment stood at Rs 118.26 crore and accounted for 3% of sales. PBIT from the same was down by 8% to Rs 7.06 crore and accounted for 2% of total.

For the 12 months, sales from the Turnkey division Segment stood at Rs 956.15 crore and accounted for 25% of sales. PBIT from the same was up by 68% to Rs 103.84 crore and accounted for 26% of total.

Other Updates

Volume growth in cables business in June 18 quarter stood at 17% YoY

Export sales stood at Rs 79 crore during June 18 quarter as compared to Rs 110 crore for June 17 period.

Retail sales through dealer network have seen an increase of around 55% growth to Rs 326 crore in June 18 quarter on YoY basis.

The company has total order book of around Rs 2599 crore as on June 18 of which EPC division stood at Rs 1290 crore, and cables order books stood at Rs 667 crore. Exports order stands at Rs 195 crore and EHV is around Rs 447 crore. The focus is on execution. Plus company is in L1 in Rs 1592 crore as on date.