KEI serves sectors such as real estate, power, railways, oil & gas, and defence. It is also a key supplier to government and private sector clients. The company operates through three major segments: Institutional Sales (large infrastructure and industrial projects), Retail Sales (dealers and distributors), and Exports.
With modern manufacturing facilities across India and a strong distribution network, KEI has built a reputation for quality, innovation, and timely delivery. It is also expanding its presence globally, especially in the Middle East, Africa, and Southeast Asia.
Explore the latest financial metrics, market trends, and growth outlook of KEI Industries Ltd., one of India’s leading cable and wire manufacturers. Is it the right time to invest in KEI? Let’s dive into the numbers and expert opinions.
📊 1. Fundamental Analysis of KEI Industries
| Metric | FY 2024 | FY 2023 | YoY Growth |
|---|---|---|---|
| Revenue | ₹7,160 Cr | ₹6,509 Cr | 🔼 +10.0% |
| Net Profit | ₹532 Cr | ₹387 Cr | 🔼 +37.5% |
| Earnings Per Share (EPS) | ₹66.6 | ₹48.5 | 🔼 +37.4% |
| Price to Earnings Ratio (P/E) | 32.5x | 34.7x | ⬇ Slightly Down |
| Return on Equity (ROE) | 22.4% | 20.1% | 🔼 Strong |
| Debt to Equity Ratio | 0.09 | 0.11 | 🔽 Low Debt |
| Dividend Yield | 0.25% | 0.20% | ⬆ Slightly Improved |
🟢 Verdict: Strong financials, improving margins, and minimal debt make KEI Industries a fundamentally sound stock.
📈 2. Technical Analysis of KEI Industries (as of June 2025)
| Parameter | Observation |
|---|---|
| Current Market Price | ₹2,165 |
| 52-Week High / Low | ₹2,330 / ₹1,320 |
| 200-Day Moving Average | ₹1,850 |
| 50-Day Moving Average | ₹2,090 |
| RSI (14-Day) | 63 (Neutral to Slightly Overbought) |
| MACD | Bullish crossover |
| Support Level | ₹2,000 |
| Resistance Level | ₹2,320 |
Trend: 📈 Uptrend
Short-Term Outlook: Bullish
Medium-Term Outlook: Positive consolidation expected
💡 3. SWOT Analysis of KEI Industries
| Strengths 🟢 | Weaknesses 🔴 |
|---|---|
| Market leader in EHV cables | Low dividend payout |
| Wide distribution network | Limited overseas presence |
| Robust order book | Vulnerable to copper price rise |
| Opportunities 🔵 | Threats ⚠️ |
|---|---|
| Growth in infra & housing | Commodity price volatility |
| Export potential | Competition from unorganized players |
| Expansion into solar cables | Currency fluctuations |
🌍 4. Macro and Microeconomic Analysis
🔸 Macroeconomic Factors:
- 📉 Interest Rates: Stable to declining – Positive for capex-led sectors like cables.
- 📈 Infrastructure Growth: ₹11 lakh crore capital outlay in Union Budget – Big push to power & real estate.
- 🔺 Inflation Impact: Moderately managed, but copper price fluctuations may pressure margins.
🔹 Microeconomic Factors:
- 📦 Industry Demand: High demand from real estate, renewables, metro rail, and defence sectors.
- 🏗️ Customer Behavior: Shift towards branded, high-quality cable solutions.
- 📈 Order Book: ₹5,000+ Cr confirmed order pipeline ensures visibility for next 2 years.
🤝 5. Peer Comparison – KEI vs Polycab vs Havells (FY 2024)
| Company | Revenue (₹ Cr) | Net Profit (₹ Cr) | EPS (₹) | P/E Ratio | ROE (%) |
|---|---|---|---|---|---|
| KEI | 7,160 | 532 | 66.6 | 32.5x | 22.4 |
| Polycab | 14,300 | 1,520 | 101.4 | 28.3x | 24.6 |
| Havells | 18,500 | 1,290 | 20.2 | 48.1x | 18.2 |
🟡 Insight: KEI is smaller than Polycab but growing faster, with better capital efficiency than Havells.
⭐ 6. Broker Reviews and Ratings
| Broker | Recommendation | Target Price (₹) | Sentiment |
|---|---|---|---|
| ICICI Direct | Buy | ₹2,500 | ⭐⭐⭐⭐☆ (4.5/5) |
| HDFC Securities | Accumulate | ₹2,350 | ⭐⭐⭐⭐ (4/5) |
| Motilal Oswal | Buy | ₹2,600 | ⭐⭐⭐⭐⭐ (5/5) |
💬 Consensus: Positive sentiment with price targets suggesting ~15–20% upside from current levels.
✅ 7. Conclusion: Is KEI Industries a Good Investment in 2025?
YES. KEI Industries exhibits:
- Strong financial fundamentals and consistent profit growth 📈
- Minimal debt and expanding capacity 🏭
- Benefiting from India’s infrastructure and housing boom 🏗️
- Technically positioned in an uptrend 📊
Investment Outlook:
🔹 Short-term: Attractive momentum play
🔹 Long-term: Solid infrastructure and housing proxy
Investor Profile: Ideal for long-term investors looking for consistent compounding with moderate risk.
📢 Disclaimer
The information provided in this blog is intended solely for educational and informational purposes. It does not constitute financial advice, stock recommendations, or an offer to buy or sell any securities. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Please note that stock prices, financial data, and company information mentioned in this article are subject to change on trading days. For the most recent and accurate updates, kindly refer to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) official websites.
