Shares of KEI Industries declined by 2.08% to trade at Rs 3,783.20 in Friday's session, making it one of the top losers on the Nifty Midcap 150 index. This price movement reflects a notable shift from the previous close.
Financial Snapshot
The following tables provide a summary of KEI Industries' financial performance on both a quarterly and annual basis.
Consolidated Quarterly Financials
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 2,060.50 Crore | Rs 2,279.65 Crore | Rs 2,467.27 Crore | Rs 2,914.79 Crore | Rs 2,590.32 Crore |
| Net Profit | Rs 150.25 Crore | Rs 154.81 Crore | Rs 164.81 Crore | Rs 226.55 Crore | Rs 195.75 Crore |
| EPS | 16.65 | 17.16 | 17.87 | 23.71 | 20.49 |
The revenue for the quarter ending June 2025 stood at Rs 2,590.32 Crore, showing an increase compared to Rs 2,060.50 Crore in June 2024. The net profit for the same period was Rs 195.75 Crore, up from Rs 150.25 Crore in the previous year. Earnings per share (EPS) also increased from 16.65 to 20.49.
Consolidated Yearly Financials
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 4,181.54 Crore | Rs 5,726.55 Crore | Rs 6,912.33 Crore | Rs 8,104.08 Crore | Rs 9,735.88 Crore |
| Net Profit | Rs 273.31 Crore | Rs 375.98 Crore | Rs 477.34 Crore | Rs 580.85 Crore | Rs 696.41 Crore |
| EPS | 30.47 | 41.77 | 52.94 | 64.37 | 75.65 |
| BVPS | 197.88 | 237.00 | 287.08 | 348.88 | 605.49 |
| ROE | 15.37 | 17.60 | 18.43 | 18.44 | 12.03 |
| Debt to Equity | 0.16 | 0.16 | 0.05 | 0.04 | 0.03 |
The annual revenue for the year ending March 2025 was Rs 9,735.88 Crore, a notable increase from Rs 8,104.08 Crore in the previous year. The net profit also rose to Rs 696.41 Crore from Rs 580.85 Crore. The Earnings per Share (EPS) increased from Rs 64.37 to Rs 75.65.
Annual Income Statement
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 9,735 Crore | Rs 8,104 Crore | Rs 6,912 Crore | Rs 5,726 Crore | Rs 4,181 Crore |
| Other Income | Rs 71 Crore | Rs 49 Crore | Rs 27 Crore | Rs 14 Crore | Rs 20 Crore |
| Total Income | Rs 9,807 Crore | Rs 8,153 Crore | Rs 6,939 Crore | Rs 5,741 Crore | Rs 4,201 Crore |
| Total Expenditure | Rs 8,815 Crore | Rs 7,328 Crore | Rs 6,263 Crore | Rs 5,193 Crore | Rs 3,778 Crore |
| EBIT | Rs 992 Crore | Rs 825 Crore | Rs 676 Crore | Rs 547 Crore | Rs 422 Crore |
| Interest | Rs 55 Crore | Rs 43 Crore | Rs 34 Crore | Rs 40 Crore | Rs 57 Crore |
| Tax | Rs 240 Crore | Rs 200 Crore | Rs 164 Crore | Rs 131 Crore | Rs 92 Crore |
| Net Profit | Rs 696 Crore | Rs 580 Crore | Rs 477 Crore | Rs 375 Crore | Rs 273 Crore |
The annual sales for March 2025 was Rs 9,735 Crore compared to Rs 8,104 Crore for March 2024. Other income stood at Rs 71 Crore in March 2025 against Rs 49 Crore in March 2024. Total expenditure was Rs 8,815 Crore and EBIT was Rs 992 Crore for March 2025.
Quarterly Income Statement
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 2,590 Crore | Rs 2,914 Crore | Rs 2,467 Crore | Rs 2,279 Crore | Rs 2,060 Crore |
| Other Income | Rs 39 Crore | Rs 37 Crore | Rs 13 Crore | Rs 16 Crore | Rs 17 Crore |
| Total Income | Rs 2,629 Crore | Rs 2,951 Crore | Rs 2,480 Crore | Rs 2,296 Crore | Rs 2,078 Crore |
| Total Expenditure | Rs 2,352 Crore | Rs 2,632 Crore | Rs 2,245 Crore | Rs 2,075 Crore | Rs 1,861 Crore |
| EBIT | Rs 277 Crore | Rs 319 Crore | Rs 235 Crore | Rs 221 Crore | Rs 216 Crore |
| Interest | Rs 14 Crore | Rs 13 Crore | Rs 14 Crore | Rs 13 Crore | Rs 14 Crore |
| Tax | Rs 67 Crore | Rs 78 Crore | Rs 56 Crore | Rs 53 Crore | Rs 52 Crore |
| Net Profit | Rs 195 Crore | Rs 226 Crore | Rs 164 Crore | Rs 154 Crore | Rs 150 Crore |
The quarterly sales for June 2025 was Rs 2,590 Crore. Other income was Rs 39 Crore for June 2025. Total expenditure was Rs 2,352 Crore and EBIT was Rs 277 Crore for the same period.
Cash Flow
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs -32 Crore | Rs 610 Crore | Rs 513 Crore | Rs 228 Crore | Rs 153 Crore |
| Investing Activities | Rs -1,500 Crore | Rs -352 Crore | Rs -137 Crore | Rs -58 Crore | Rs 75 Crore |
| Financing Activities | Rs 1,918 Crore | Rs -71 Crore | Rs -255 Crore | Rs -31 Crore | Rs -128 Crore |
| Others | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore |
| Net Cash Flow | Rs 385 Crore | Rs 186 Crore | Rs 120 Crore | Rs 138 Crore | Rs 100 Crore |
The cash flow from operating activities for March 2025 was Rs -32 Crore compared to Rs 610 Crore for March 2024. Investing activities resulted in Rs -1,500 Crore and financing activities at Rs 1,918 Crore for March 2025.
Balance Sheet
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 19 Crore | Rs 18 Crore | Rs 18 Crore | Rs 18 Crore | Rs 17 Crore |
| Reserves & Surplus | Rs 5,766 Crore | Rs 3,130 Crore | Rs 2,571 Crore | Rs 2,117 Crore | Rs 1,760 Crore |
| Current Liabilities | Rs 1,348 Crore | Rs 1,431 Crore | Rs 1,117 Crore | Rs 1,332 Crore | Rs 1,142 Crore |
| Other Liabilities | Rs 100 Crore | Rs 76 Crore | Rs 63 Crore | Rs 58 Crore | Rs 93 Crore |
| Total Liabilities | Rs 7,234 Crore | Rs 4,656 Crore | Rs 3,770 Crore | Rs 3,527 Crore | Rs 3,013 Crore |
| Fixed Assets | Rs 1,378 Crore | Rs 891 Crore | Rs 581 Crore | Rs 547 Crore | Rs 544 Crore |
| Current Assets | Rs 5,634 Crore | Rs 3,697 Crore | Rs 3,161 Crore | Rs 2,961 Crore | Rs 2,445 Crore |
| Other Assets | Rs 221 Crore | Rs 67 Crore | Rs 26 Crore | Rs 18 Crore | Rs 24 Crore |
| Total Assets | Rs 7,234 Crore | Rs 4,656 Crore | Rs 3,770 Crore | Rs 3,527 Crore | Rs 3,013 Crore |
| Contingent Liabilities | Rs 1,631 Crore | Rs 1,119 Crore | Rs 208 Crore | Rs 286 Crore | Rs 1,192 Crore |
The total liabilities for March 2025 stood at Rs 7,234 Crore, compared to Rs 4,656 Crore in March 2024. Fixed assets increased to Rs 1,378 Crore, and current assets stood at Rs 5,634 Crore for March 2025.
Financial Ratios
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 75.65 | 64.37 | 52.94 | 41.77 | 30.47 |
| Diluted Eps (Rs.) | 75.55 | 64.25 | 52.86 | 41.56 | 30.47 |
| Book Value /Share (Rs.) | 605.49 | 348.88 | 287.08 | 237.00 | 197.88 |
| Dividend/Share (Rs.) | 4.00 | 3.50 | 3.00 | 2.50 | 2.00 |
| Face Value | 2 | 2 | 2 | 2 | 2 |
| Gross Profit Margin (%) | 10.91 | 10.93 | 10.61 | 10.53 | 11.49 |
| Operating Margin (%) | 10.19 | 10.18 | 9.78 | 9.56 | 10.10 |
| Net Profit Margin (%) | 7.15 | 7.16 | 6.90 | 6.56 | 6.53 |
| Return on Networth / Equity (%) | 12.03 | 18.44 | 18.43 | 17.60 | 15.37 |
| ROCE (%) | 16.86 | 25.58 | 25.51 | 24.96 | 22.58 |
| Return On Assets (%) | 9.62 | 12.47 | 12.66 | 10.66 | 9.06 |
| Current Ratio (X) | 4.18 | 2.58 | 2.83 | 2.22 | 2.14 |
| Quick Ratio (X) | 2.90 | 1.65 | 1.84 | 1.41 | 1.47 |
| Debt to Equity (x) | 0.03 | 0.04 | 0.05 | 0.16 | 0.16 |
| Interest Coverage Ratios (X) | 19.10 | 20.19 | 21.14 | 14.94 | 7.38 |
| Asset Turnover Ratio (%) | 1.64 | 1.92 | 1.89 | 1.75 | 138.73 |
| Inventory Turnover Ratio (X) | 6.32 | 5.04 | 4.73 | 4.91 | 5.44 |
| 3 Yr CAGR Sales (%) | 30.39 | 39.21 | 18.92 | 16.34 | 9.85 |
| 3 Yr CAGR Net Profit (%) | 36.10 | 45.78 | 36.47 | 44.23 | 37.39 |
| P/E (x) | 38.24 | 53.75 | 32.09 | 30.19 | 17.15 |
| P/B (x) | 4.77 | 9.90 | 5.92 | 5.33 | 2.64 |
| EV/EBITDA (x) | 24.36 | 34.53 | 20.34 | 18.84 | 9.91 |
| P/S (x) | 2.84 | 3.85 | 2.22 | 1.99 | 1.12 |
The basic EPS for March 2025 was Rs 75.65, and diluted EPS was Rs 75.55. The book value per share was Rs 605.49. The price-to-earnings ratio (P/E) was 38.24, and the price-to-book ratio (P/B) was 4.77.
Corporate Actions
KEI Industries has scheduled analyst/investor meetings with Motilal Oswal Financial Services Ltd on September 2, 2025, Elara Securities (India) Private Limited on September 3, 2025, and Goldman Sachs (India) Securities Pvt. Ltd. on September 4, 2025.
The company announced an interim dividend of Rs 4.00 per share (200%) with an effective date of January 27, 2025. Previously, an interim dividend of Rs 3.50 per share (175%) was announced with an effective date of March 19, 2024.
A stock split was announced on September 13, 2006, with the old face value of Rs 10 and a new face value of Rs 2. The ex-split date was December 21, 2006.
Moneycontrol's analysis on August 26, 2025, indicated a neutral sentiment for the stock.
With the stock's last traded price at Rs 3,783.20, KEI Industries experienced a downturn during today's session.
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