New Delhi: India’s leading wire and cable manufacturer, KEI Industries Ltd aims to close this financial year ending March 31, 2019 with over 20% growth, stimulated by robust export growth at 10% with continued demand for its products in national and international market.
The company is bullish on expansion with over 1400 dealers pan India by this fiscal end, almost a jump of 9% from 1284 dealers as on March 31, 2018.
KEI’s net profit also soared by 28.36 % to INR 121.94 cr during nine month period (April 1 2018 to December 31, 2018) from INR 95 crore during the same period of 2018.
Elaborating on growth of Indian wire and cable industry, the Chairman cum Managing Director- KEI Industries Ltd, Mr Anil Gupta Said, “We have been able to expand and at the same time ensured our foothold across the market to which we cater. We do so with the help of strong financials and Capex, which has ensured our continuous growth. As our growth trajectory remains intact, we are very hopeful to clock 18%-20% during the next fiscal. The 1st phase of our Pathredi project of LT Power Cable has already been completed and the 2nd Phase, HT Power Cable expansion has been completed in the first week of March 2019, with the aim to expand capacity of our HT Power Cable by INR 200 crore.”
He further added that for KEI’s Silvassa project, the company has spend INR 16 crore for the land and the infrastructure developed on it. “This will add to our capacity of our House Wire manufacturing segment. We will spend another INR 39 crore - to INR 44 crore, which will add on to enhancing our production capacity of INR 300 crore. In the 2nd Phase, we intend to spend INR 30 crore in next financial year, which will add another capacity of INR 300 crore for our House Wire segment,” Mr Gupta explained.
KEI’s retail sales has contributed 33 per cent (at INR 994 crore) of their turnover in terms of its total sales during nine months of this current fiscal, reporting a jump of 50% (at INR 663 crore) over the same period (April-December 2017-18). Its’ domestic sales as on December 31, 2018 stood at INR 2,578 crore , while its exports were at INR 390 crore during the nine month period starting April 1, 2018.
KEI’s Net Sales during Q3 of FY19 was INR 1087.48 crore from INR 888.66 crore, registering a growth of 22.37 %. Similarly, its Q2 net sales stood at Rs 996.79 crore from INR 748.82 crore during the same period in 2018, registering a growth of 33.11 %.
During Q1 FY19, KEI’s net sales was INR 883.90 crore from INR 777.97 during the corresponding period in 2018, registering 13.62 % growth.
Exports expected to grow by 10%, dealers’ network aims to expand beyond 1400
* Net Sales, Q1-Q3 FY’19 INR 2,968.17cr , Growth by 23% ,compared to Q1-Q3 last year(FY’18)
* Net Profit After Tax (PAT), Q1-Q3 FY’19 INR 121.94 cr, Growth by 28 % compared to Q1-Q3 last year(FY’18)
* Export Sales, Q1-Q3 FY’19 INR 390 cr , Growth by 10% compared Q1-Q3 last year(FY’18)