KEI

KEI INDUSTRIES LIMITED KEI Industries Limited Q-3 FY 2024 Earnings Presentation 23rd January, 2024 Financial Performance Q-3 FY 24 Highlights %% %% Revenue ( in Crore ) EBITDA ( in Crore) PAT ( 77..3311 1111..0099 77..2200 1100..8877 77..2211 151 1100..9988 229 140 2062 1946 211 129 1784 196 16.72% 8.14% 15.55% 5.91% 17.15% 7.47% YoY QoQ YoY QoQ YoY QoQ Q3 FY23 Q2 FY24 Q3 FY24 Q3 FY23 Q2 FY24 Q3 FY24 Q3 FY23 Q2 FY24 Q3 FY24 • Revenue improved by 15.55% YoY in this quarter. • EBITDA margin in this quarter has improved to 11.09% as against 10.98% YoY. • PAT margin in this quarter has improved to 7.31% as against 7.21% YoY. Financial Performance 9M FY 24 Highlights Revenue ( in Crore ) EBITDA PAT 1100..8822%% 77..1122%% 1100..5599%% 627 5791 66..8844%% 412 525 4958 339 16.80% 19.41% 21.51 YoY YoY YoY 9M FY23 9M FY24 9M FY23 9M FY24 9M FY23 9M FY24 • Revenue improved by 16.80% YoY in 9M FY 24 • EBITDA margin in 9M FY 24 has improved to 10.82% as against 10.59% YoY. • PAT margin in 9M FY 24 has improved to 7.12% as against 6.84% YoY. Cable and Wires – Institutional QQ--33 FFYY 2244 • Domestic Institutional Wire and cable sale is 556 723 740 Crore in 3rd quarter as against PY 630 Crore . 680 • Domestic Institutional EHV cable sale stood at 184 crore in 3rd quarter as against PY 93 Crore. 183 196 105 • Total Institutional Cable Sale including export contributed 45.37% in Q-3 FY 24 against 46.43% in Q- Q3 FY23 Q2 FY24 Q3 FY24 3 FY 23. Export Domestic • Total Institutional sale including export increased by Particulars Q-3 FY 23 Q-2 FY 24 Q-3 FY 24 approx. 12.93%YoY in Q-3 FY 24. Total Institutional Sale 828 863 936 including export • Domestic Institutional Wire and cable sale is 1560 Crore in 9M of FY 24 as against PY 1574 Crore . 99MM FFYY 2244 • Domestic Institutional EHV cable sale stood at 402 crore in 9M of FY 24 as against PY 237 Crore. 1962 1811 • Total Institutional Cable Sale including export 617 contributed 44.53% in 9M of FY 24 against 44.16% in 378 9M of FY 23. 9M FY23 9M FY24 • Total Institutional sale including export increased by Export Domestic approx. 17.78% in 9M of FY24 . Particulars 9M FY 23 9M FY 24 Total Institutional Sale 2189 2579 including export Cable and Wires – Dealer/Distribution QQ--33 FFYY 2244 • Sales through Dealer/ Distribution market increased by approx. 16.39% YoY in Q-3 FY 24. 949 • Sales through Dealer/ Distribution contributed approx. 46.05% of 923 overall sale in Q-3 FY 24 and 46.87% of overall sale in 9M of 816 FY24. • The total active working dealer of the company as on 31.12.2023 was approx. 1975 Nos. • Sales through Dealer/ Distribution market increased by approx. 16.98% YoY in 9M of FY24. Q3 FY23 Q2 FY24 Q3 FY24 RREEVVEENNUUEE BBRREEAAKK UUPP OOFF 99MM FFYY2244 ((ZZOONNEE AANNDD TTIIEERR CCIITTYY WWIISSEE )) 9M FY 24 4400..0077%% 4466..1100%% 1088 3388..9999%% 2714 1251 2266..3344%% 2320 1058 715 1177..5588%% 1166..0011%% 1144..9911%% 477 434 405 A Class Cities B Class Cities C Class Cities East West North South 9M FY23 9M FY24 EPC Projects and SS Wire Q-3 FY 24 (EPC*) • EPC Sale (apart from Cable) improved by approx. 52.96% YoY in Q-3 FY 24. • During the 9M of FY24 EPC contribution is 6.38%. 146 • Export Sale of EPC is 69 Crore in Q-3 FY 24 and 149 crore in 9M of FY24. 113 • SS Wire sale decreased by approx. 15.33% YoY in Q-3 FY 24 and in 9M of 95 FY24 by approx. 12.68%. • Export Sale of SS Wire is 19 Crore in Q-3 FY 24 and 74 crore in 9M of FY24. Q3 FY23 Q2 FY24 Q3 FY24 QQ--33 FFYY 2244 ((SSSS wwiirree)) 99MM FFYY 2244 ((SSSS wwiirree)) 99MM FFYY 2244 ((EEPPCC**)) 185 370 58 162 54 270 46 Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 9M FY23 9M FY24 * EPC (Other than cable) Breakup of Product and Revenue Q3 FY 24 9M FY 24 Revenue ( in Crore) Revenue ( in Crore) Other (15) Other (34) EPC *-146 EHV-186 EPC *-370 SS WIRE- EHV-429 SS WIRE-46 162 HW/WW- HW/WW- 1722 571 LT-764 LT-2202 HT-364 HT-940 * EPC (Other than cable) Other Information PENDING ORDERS Pending order is approx. 3,826 Crore. FINANCIAL CHARGES On standalone basis, financial charges of the company in Q3 FY24 was Crore as compared to last year same period of 7.77 Crore (Financial charges in terms of percentage has increased to 0.53% from 0.44% of Net sales). In the 9M FY 24, it was 27.39 Crore as compared to last year same period of 24.62 Crore. (Financial charges in terms of percentage has reduced to 0.47% from 0.50% of Net sales). DEBT : Debt ( including CF and acceptance):- in Crore Particulars 31.12.22 31.03.22 31.03.23 31.12.23 Debt (TL+WC) 37 225 - 38 Channel Finance 126 106 135 130 Gross Debt 163 331 135 168 Cash & Bank Balances 376 360 537 480 Net Debt (213) (29) (402) (312) Acceptances 128 299 219 337 Total Debt / (Cash) (85) 270 (183) 25 Balance Sheet (Standalone) in Crore ASSETS 9M FY24* FY 23 EQUITY AND LIABILITIES 9M FY 24* FY 23 Non-Current Assets Equity Fixed Assets 793.06 581.88 Equity Share Capital 18.05 18.04 Other Non Current Assets 75.24 26.94 Other Equity 2,992.89 2,570.97 Total Non Current Assets 868.30 608.82 Total Equity 3,010.94 2,589.01 Non-Current Liabilities Borrowings - - Other Non Current Liabilities 68.72 63.61 Current Assets Total Non Current Liabilities 68.72 63.61 Inventories 1,349.26 1,102.29 Current Liabilities Trade Receivables 1,478.26 1,387.79 Short Term Borrowings 168.26 135.26 Cash and Bank Balances 479.99 537.16 Trade Payables 821.60 748.12 Other Current Assets 145.45 134.08 Others -Current Liabilities 251.74 234.14 Total Current Assets 3,452.96 3,161.32 Total Current Liabilities 1,241.60 1,117.52 Total Assets 4,321.26 3,770.14 Total Equity and Liabilities 4,321.26 3,770.14 Consolidated Financial Highlights • During the Q3 FY 24 Net Sales was 2061.72 Crore, against same quarter in previous year of 1784.32 Crore. • EBIDTA during this Quarter was 228.72 Crore against same quarter in the previous year of 195.94 Crore. • Further, PAT during this Quarter was 150.67 Crore against same quarter in the previous year of 128.60 Crore. PAT/Net Sale was 7.31% during the quarter as against 7.21% during last year same period. • During 9M FY 24, Net Sales was 5790.87 Crore, against same period in previous year of 4957.80 Crore. • EBIDTA during 9M FY 24 was 626.83 Crore against same period in the previous year of 524.93 Crore. • Further, PAT during 9M FY 24, was 412.26 Crore against same period in the previous year of 339.25 Crore. PAT/Net Sale was 7.12% as against 6.84% during last year same period. Shareholding Related Information Shareholding Pattern as on 31.12.2023 Public & other- 15.91% Promoters-37.08% FII-30.96% DII-16.05% Cautionary Statement: The statement in this earning presentation, except historical figures, describing the Company’s projections, estimates, expectations are forward–looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company’s operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates; changes in the Government regulations, tax, corporate and other laws and other related factors.