KEI Industries drops after brokerage downgrade; Q4 PAT rises 26% YoY

KEI Industries fell 2.61% to Rs 4,926.65 after a foreign brokerage downgraded the stock from ?overweight? to ?equal weight,' even as the company reported a strong performance in Q4 FY26.

The brokerage, however, raised its target price to Rs 5,213 from Rs 4,860, stating that a significant portion of near-term positives is already priced in, prompting a more cautious stance despite stable fundamentals.

In its Q4 FY26 results, the company?s consolidated net profit jumped 25.5% to Rs 284.31 crore on a 19.3% increase in revenue from operations to Rs 3,476.40 crore in Q4 FY26 over Q4 FY25.

Profit before tax jumped 23.6% year on year to Rs 377.15 crore in Q4 FY26.

EBITDA stood at Rs 424 crore in Q4 FY26, registering the growth of 25.44%, compared with Rs 338 crore recorded in the corresponding quarter last year. EBITDA margin improved to 12.21% in Q4 FY26 as against 11.61% in Q4 FY25.

The company's revenue from cables & wires was at Rs 3,297.03 crore (up 17.89% YoY), and revenue from stainless steel wire stood at Rs 56.06 crore (up 21.45% YoY) during the quarter.

However, the company's revenue from EPC projects marginally declined by 0.06% to Rs 223.27 crore in Q4 FY26.

On a year on year basis, the company's net profit rose 31.9% to Rs 918.43 crore on 20.7% increase in revenue to Rs 11,747.77 crore in FY26 over FY25.

KEI Industries manufactures wires and cables (W&C) like EHV cables, HT cables, and LT cables and sells them in India and overseas.

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