KEI INDUSTRIES Results Analysis-Q3FY26

Operating Revenue for Q3FY26 is Rs. 2,955 Crs., 19.51% growth YoY, Total Income is Rs. 2,989 Crs., 20.46% growth YoY, EBITDA is Rs. 360 Crs., 28.65% growth YoY, EBITDA Margin is 12.19% Improved by 87 Basis points YoY, PBT Rs. 315 Crs, 42.26% growth YoY, PAT Rs. 235 Crs, 42.50% growth YoY (Which Includes Provision of ₹11.6 cr. due to newly notified labour codes) Exports: Q3 INR 544 cr. with management citing “overall growth in the Wire and Cable export is 95%”. Order book as of Dec 31, 2025: INR 3,928 cr On QoQ basis Op. Revenue is up by 8.38%, Total Income is up by 7.94%, EBITDA is up by 20.1%, PBT is up by 13.48%, PAT is also up by 15.4% (Which Includes Provision of ₹11.6 cr. due to newly notified labour codes). Key Takeaways : • Strong double-digit revenue growth on both YoY and QoQ basis • Operating leverage reflected in higher EBITDA growth and margin expansion • Significant improvement in profitability, despite one-time provisioning for Labour Codes • Consistent momentum across topline and bottomline indicators Medium-term growth ambition: post-Sanand and with strong order book, management said they are hopeful to grow “more than 20% CAGR in next 3 to 4 years.”