KEI · Capital Goods
KEI Industries Ltd. reported revenue of ₹1,945 cr for July to September 2023, — on the year and +9.1% on the quarter.
Operating profit (EBITDA) was ₹202 cr, a margin of 10.4%, — on the year and +40 bps on the quarter.
Net profit was ₹140 cr, — on the year and +15.7% on the quarter, with earnings per share of ₹15.54.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,945 cr | ₹2,059 cr | ₹2,330 cr | ₹2,065 cr | ₹2,284 cr | ₹2,472 cr | ₹2,915 cr | ₹2,590 cr | ₹2,726 cr | ₹2,955 cr | ₹3,476 cr | ₹3,185 cr |
| YoY | — | — | — | +16% | +17% | +20% | +25% | +25% | +19% | +20% | +19% | +23% |
| EBITDA margin | 10.4% | 10.4% | 10.9% | 10.6% | 9.9% | 10.0% | 10.3% | 10.0% | 9.9% | 10.8% | 11.0% | 12.4% |
| Other income, % of PBT | 5% | 7% | 2% | 6% | 6% | 4% | 12% | 15% | 15% | 11% | 11% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 27% | 25% | 25% | 26% |
| Net profit | ₹140 cr | ₹151 cr | ₹168 cr | ₹150 cr | ₹155 cr | ₹165 cr | ₹227 cr | ₹196 cr | ₹204 cr | ₹235 cr | ₹284 cr | ₹274 cr |
| YoY | — | — | — | +24% | +11% | +9% | +35% | +31% | +32% | +42% | +25% | +40% |
| Core profit YoY | — | — | — | +23% | +9% | +13% | +20% | +17% | +21% | +33% | +25% | +57% |
| EPS | ₹15.54 | ₹16.70 | ₹18.67 | ₹16.65 | ₹17.15 | ₹17.25 | ₹23.71 | ₹20.49 | ₹21.29 | ₹24.57 | ₹29.74 | ₹28.68 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
KEI Industries Ltd. reported revenue of ₹1,945 cr (— on the year) and net profit of ₹140 cr (— on the year) for July to September 2023.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.