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KEI Industries Q2FY2027 results
22 Oct 2026, 11:56AM

  • Revenues for Q2FY27 grew by 39% to Rs 3,776 crore way ahead of our expectations of Rs 3,381 crore. Revenue growth was backed by 405 yoy growth in C&W segment and 16% growth in Stainless steel segment.  
  • Operating profit grew by 44% y-o-y to Rs.377 crore as an impact of growth in revenues. Operating profit margins improved by 9 bps yoy but below our estimates of 11.5%. In line with operating profit growth adjusted PAT grew by 29% y-o-y to Rs. 262 crores against our expectation of Rs. 270 crores.
  • View: KEI Q2FY27 have posted mixed set of results.  

Results (consolidated)                                                                                             Rs crore

Particulars

Q2FY27

Q2FY26

y-o-y (%)

Q1FY27

q-o-q (%)

Net sales

3,776

 2,726

 38.5

 3,185

 18.6

Operating profit

377

 269

 39.8

 396

 (4.9)

Other income

25

 42

 (42.0)

20

 25.3

Adjusted PAT (After MI)

262

 204

 29.0

 274

 (4.3)

Adjusted EPS

27.5

 21.3

 29.0

 28.7

 (4.3)

 

   

bps

 

bps

OPM (%)

10.0

 9.9

 9

 12.4

 (246)

NPM (%)

6.9

 7.5

 (51)

8.6

 (166)

Tax rate (%)

25.7

 26.6

 (90)

25.7

 (4)

 

Actual vs. estimates                                                Rs. Crore

Particulars

Q2FY27

Q2FY27E

Var %

9Net Sales

 3,776

 3,381

 11.7

Operating profit

377

 389

 (3.2)

Adjusted PAT

 262

 270

 (3.0)

 

   

bps

OPM (%)

10.0

 11.5

 (153)

NPM (%)

6.9

 6.6

 38

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