Budget News

KEI Industries
July 28,2022 02:29
Standalone net sales(including other operating income) of KEI Industries for the quarter ended June2022 has increased 53.84% to Rs 1,565.41 crore. Operating profitmargin has declined from 11.18% to 10.20%, leading to 40.38% rise in operatingprofit to Rs 159.64 crore. Raw material cost as a % of total sales(net of stock adjustments) increased from 72.27% to 75.43%. Employee cost decreased from 4.44% to 3.54%. Otherexpenses fell from 13.28% to 10.96%. Contract job process chargesfell from 3.00% to 1.32%. Other income up 26.98% to Rs 3.53crore. PBIDT rose 40.06% to Rs 163.17 crore. Provisionfor interest fell 19.18% to Rs 9.23 crore. PBDT rose 46.50% to Rs153.94 crore. Provision for depreciation rose 0.22% to Rs 13.88crore. Profit before tax grew 53.52% to Rs 140.06crore. Provision for tax was expense of Rs 36.29 crore, compared toRs 24.12 crore. Effective tax rate was 25.91% compared to 26.44%. Profitafter tax rose 54.63% to Rs 103.77 crore.
Sales of Segment - Cables segment hasgone up 60.62% to Rs 1,420.57 crore (accounting for 86.88% of totalsales). Sales of Segment - Stainless Steel Wire segment has gone up27.61% to Rs 61.00 crore (accounting for 3.73% of totalsales). Sales of Segment-EPC Projects segment has gone up 11.42% toRs 153.59 crore (accounting for 9.39% of total sales). Inter-segmentsales rose Rs 53.03 crore to Rs 69.75 crore.
Profit before interest, tax and other unallocable items (PBIT) hasjumped 26.94% to Rs 139.87 crore. PBIT of Segment - Cables segmentrose 34.47% to Rs 127.37 crore (accounting for 91.06% of totalPBIT). PBIT of Segment - Stainless Steel Wire segment rose 1.64% toRs 3.04 crore (accounting for 2.17% of total PBIT). PBIT ofSegment-EPC Projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76%of total PBIT).

PBIT margin of Segment - Cables segment fell from 10.71% to8.97%. PBIT margin of Segment - Stainless Steel Wire segment fellfrom 6.26% to 4.98%. PBIT margin of Segment-EPC Projects segmentfell from 9.05% to 6.16%. Overall PBIT margin fell from 10.30% to8.55%.

Consolidated net sales (including other operating income) of KEI Industries forthe quarter ended Jun 2022 has increased 53.84% to Rs 1565.41crore. Sales of Segment-Cables segment has gone up 60.62% to Rs1,420.57 crore (accounting for 86.88% of total sales). Sales ofSegment-Stainees Steel Wire segment has gone up 27.61% to Rs 61.00 crore(accounting for 3.73% of total sales). Sales of Segment-EPC projectssegment has gone up 11.42% to Rs 153.59 crore (accounting for 9.39% of total sales). Inter-segmentsales rose Rs 53.03 crore to Rs 69.75 crore.

Profit before interest, tax and otherunallocable items (PBIT) has jumped 26.95% to Rs 139.86 crore. PBITof Segment-Cables segment rose 34.48% to Rs 127.36 crore (accounting for 91.06%of total PBIT). PBIT of Segment-Stainees Steel Wire segment rose1.64% to Rs 3.04 crore (accounting for 2.17% of total PBIT). PBIT ofSegment-EPC projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76%of total PBIT).

PBIT margin of Segment-Cables segmentfell from 10.71% to 8.97%. PBIT margin of Segment-Stainees SteelWire segment fell from 6.26% to 4.98%. PBIT margin of Segment-EPCprojects segment fell from 9.05% to 6.16%. Overall PBIT margin fellfrom 10.30% to 8.55%.

Operating profit margin has declined from 11.17% to 10.20%, leading to40.38% rise in operating profit to Rs 159.63 crore. Raw materialcost as a % of total sales (net of stock adjustments) increased from 72.27% to75.43%. Employee cost decreased from 4.44% to 3.54%. Other expenses fell from 13.28% to 10.96%. Contract jobprocess charges fell from 3.00% to 1.32%.

Other income rose 26.98% to Rs 3.53crore. PBIDT rose 40.06% to Rs 163.16 crore. Provisionfor interest fell 19.18% to Rs 9.23 crore.

PBDT rose 46.50% to Rs 153.93crore. Provision for depreciation rose 0.22% to Rs 13.88crore.

Profit before tax grew 53.53% to Rs140.05 crore. Share of profit/loss were nil in both theperiods. Provision for tax was expense of Rs 36.29 crore, comparedto Rs 24.12 crore. Effective tax rate was 25.91% compared to 26.44%.

Minority interest was nil in both the periods. Net profitattributable to owners of the company increased 54.63% to Rs 103.76crore.

Promoters' stake was38.02% as of 30 June 2022 ,compared to 39.23% as of 30 June 2021.

KEI Industries : Consolidated Results

	Quarter ended			Year ended
Particulars	202206	202106	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	1,565.41	1,017.56	53.84	5,726.55	4,181.54	36.95
OPM (%)	10.20	11.17	-98 bps	10.28	10.89	-61 bps
OP	159.63	113.71	40.38	588.72	455.47	29.26
Other Inc.	3.53	2.78	26.98	14.60	20.06	-27.22
PBIDT	163.16	116.49	40.06	603.32	475.53	26.87
Interest	9.23	11.42	-19.18	40.39	57.31	-29.52
PBDT	153.93	105.07	46.50	562.93	418.22	34.60
Depreciation	13.88	13.85	0.22	55.45	57.81	-4.08
PBT	140.05	91.22	53.53	507.48	360.41	40.81
Share of Profit/(Loss) from Associates	0	0	-	0.04	0.1	-60.00
PBT before EO	140.05	91.22	53.53	507.52	360.51	40.78
EO Income	0	0	-	0	0	-
PBT after EO	140.05	91.22	53.53	507.52	360.51	40.78
Taxation	36.29	24.12	50.46	131.51	90.86	44.74
PAT	103.76	67.1	54.63	376.01	269.65	39.44
Minority Interest (MI)	0	0	-	-0.01	0.1	LP
Net profit	103.76	67.1	54.63	376.02	269.55	39.50
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	103.76	67.1	54.63	376.02	269.55	39.50
EPS (Rs)*	11.52	7.45	54.63	41.73	29.92	39.50

* EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

KEI Industries : Consolidated Segment Results

	Quarter ended				Year ended
	% of (Total)	202206	202106	Var.(%)	% of (Total)	202203	202103	Var.(%)
Sales
Segment-Cables	86.88	1,420.57	884.43	60.62	82.33	5,122.68	3,574.26	43.32
Segment-Stainees Steel Wire	3.73	61.00	47.80	27.61	3.63	225.94	141.65	59.50
Segment-EPC projects	9.39	153.59	137.85	11.42	14.04	873.49	976.70	-10.57
Total Reported Sales	100.00	1,635.16	1,070.08	52.81	100.00	6,222.11	4,692.61	32.59
Less: Inter segment revenues		69.75	53.03	31.53		495.56	511.08	-3.04
Net Sales	100.00	1,565.41	1,017.05	53.92	100.00	5,726.55	4,181.54	36.95
PBIT
Segment-Cables	91.06	127.36	94.71	34.48	83.57	486.36	409.47	18.78
Segment-Stainees Steel Wire	2.17	3.04	2.99	1.64	2.34	13.63	8.39	62.60
Segment-EPC projects	6.76	9.46	12.47	-24.14	14.09	81.98	90.74	-9.65
Total PBIT	100.00	139.86	110.17	26.95	100.00	581.97	508.59	14.43
Less : Interest		9.23	11.42	-19.17		40.39	57.31	-29.52
Add: Other un-allcoable		9.41	-7.54	LP		-34.05	-90.78	62.49
PBIT Margin(%)
Segment-Cables		8.97	10.71	-174.31		9.49	11.46	-196.19
Segment-Stainees Steel Wire		4.98	6.26	-127.37		6.03	5.92	11.50
Segment-EPC projects		6.16	9.05	-288.66		9.39	9.29	9.50
PBT	100.00	140.05	91.22	53.53	100.00	507.53	360.51	40.78

KEI Industries : Standalone Results

	Quarter ended			Year ended
Particulars	202206	202106	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	1,565.41	1,017.56	53.84	5,726.55	4,181.49	36.95
OPM (%)	10.20	11.18	-98 bps	10.28	10.89	-61 bps
OP	159.64	113.72	40.38	588.68	455.47	29.25
Other Inc.	3.53	2.78	26.98	14.89	20.06	-25.77
PBIDT	163.17	116.50	40.06	603.57	475.53	26.93
Interest	9.23	11.42	-19.18	40.39	57.31	-29.52
PBDT	153.94	105.08	46.50	563.18	418.22	34.66
Depreciation	13.88	13.85	0.22	55.45	57.81	-4.08
PBT	140.06	91.23	53.52	507.73	360.41	40.88
PBT before EO	140.06	91.23	53.52	507.73	360.41	40.88
EO Income	0	0	-	0	0	-
PBT after EO	140.06	91.23	53.52	507.73	360.41	40.88
Taxation	36.29	24.12	50.46	131.51	90.86	44.74
PAT	103.77	67.11	54.63	376.22	269.55	39.57
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	103.77	67.11	54.63	376.22	269.55	39.57
EPS (Rs)*	11.52	7.45	54.63	41.75	29.92	39.57

* EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

KEI Industries : Standalone Segment Results

	% of (Total)	202206	202106	Var.(%)	% of (Total)	202203	202103	Var.(%)
	Quarter ended				Year ended
Sales
Segment - Cables	86.88	1,420.57	884.43	60.62	82.33	5,122.68	3,574.21	43.32
Segment - Stainless Steel Wire	3.73	61.00	47.80	27.61	3.63	225.94	141.65	59.50
Segment-EPC Projects	9.39	153.59	137.85	11.42	14.04	873.49	976.70	-10.57
Total Reported Sales	100.00	1,635.16	1,070.08	52.81	100.00	6,222.11	4,692.56	32.60
Less: Inter segment revenues		69.75	53.03	31.53		495.56	511.08	-3.04
Net Sales	100.00	1,565.41	1,017.05	53.92	100.00	5,726.55	4,181.49	36.95
PBIT
Segment - Cables	91.06	127.37	94.72	34.47	83.57	486.42	409.53	18.78
Segment - Stainless Steel Wire	2.17	3.04	2.99	1.64	2.34	13.63	8.39	62.60
Segment-EPC Projects	6.76	9.46	12.47	-24.14	14.09	81.98	90.74	-9.65
Total PBIT	100.00	139.87	110.18	26.94	100.00	582.03	508.65	14.43
Less : Interest		9.23	11.42	-19.17		40.39	57.31	-29.52
Add: Other un-allcoable		9.41	-7.54	LP		-33.91	-90.94	62.71
PBIT Margin(%)
Segment - Cables		8.97	10.71	-174.38		9.50	11.46	-196.24
Segment - Stainless Steel Wire		4.98	6.26	-127.37		6.03	5.92	11.50
Segment-EPC Projects		6.16	9.05	-288.66		9.39	9.29	9.50
PBT	100.00	140.05	91.23	53.52	100.00	507.73	360.41	40.88

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