Shares of KEI Industries Ltd fell over 5% after the firm reported a 17% rise in net profit for the June 2023 quarter. Net profit for Q1 came at Rs 121.38 crore against Rs 103.76 crore in the same period of fiscal year 2023. KEI Industries stock plunged 5.58% to Rs 2294.50 against the previous close of Rs 2429.65 on BSE. Market cap of the firm fell to Rs 21,014.84 crore.
In a year, the stock has delivered returns of 84.85% and risen 56.67% this year. Total 0.25 lakh shares changed hands amounting to a turnover of Rs 5.85 crore on BSE. KEI Industries stock hit a 52-week low of Rs 1220.50 on August 1, 2022 and a 52 week high of Rs 2812.20 on July 19, 2023.
In terms of technicals, the relative strength index (RSI) of KEI Industries stands at 52.5, signaling it's trading neither in the overbought nor in the oversold territory. KEI Industries stock has a one-year beta of 0.6, indicating very low volatility during the period. KEI Industries shares are trading higher than the 50 day, 100 day and 200 day but lower than the 5 day, 10 day, 20 day, 30 day moving averages.
Revenue rose to Rs 1,790.90 crore for the first quarter ended June 30, 2023, as compared to Rs 1,568.94 crore a year ago. Profit before tax climbed 16.42% to Rs 163 crore in the June 2023 quarter against Rs 140 crore in the June 2022 quarter.
EBITDA margin in the June quarter rose to 10.47% as against 10.42% YoY. PAT margin in the June quarter has increased to 6.81% as against 6.63% YoY.
EBIDTA during Q1 came at Rs 186.60 crore against Rs 163.16 crore against the same quarter in the previous year.
KEI Industries is engaged in the business of manufacturing, sale and marketing of all range of power cables up to 400kV - Low Tension (LT), High Tension (HT) and Extra High Voltage (EHV), Control and Instrumentation Cables, Specialty Cables, Elastomeric/Rubber Cables, Submersible Cables, Flexible and House Wires, Winding Wires. KEI is also engaged in execution of Engineering, Procurement and Construction projects (EPC) for survey, supply of materials, design, erection, testing & commissioning on a turnkey basis.
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