informed exchanges that the Income Tax (I-T) Department has initiated a search operation at its registered office, plants, and other related locations on Thursday, 7 May.
The company further stated that it is fully cooperating with the authorities and is providing all necessary information and support during the ongoing proceedings. “Once the search by the concludes, the company will update the stock exchanges in case of any material information/event,” the company added.
KEI Industries also emphasised that it adheres to high standards of ethical conduct and legal compliance, adding that its commitment to transparency and due legal process remains unwavering.
The development comes at a time when the stock has rebounded 30% from its April lows to trade at the current level of ₹5,110 apiece. Over the long term, the stock has delivered multibagger returns, gaining 164% over the past three years and 890% over the last five years.
The company has been a major beneficiary of rising demand from the power, infrastructure, real estate, and industrial sectors.
KEI Industries Q4 Results 2026
The company’s March-quarter earnings came ahead of analysts’ estimates, supported by stronger-than-expected margins and higher other income. However, volume growth during Q4FY26 and FY26 remained modest at around 2% and 6%, respectively.
It reported Q4 revenue of ₹3,480 crore, up 19% year-on-year, largely in line with consensus estimates, driven by an 18% YoY growth in its (C&W) business.
EBITDA rose nearly 27% YoY to ₹380 crore, aided by better-than-expected margins in the C&W segment. On the bottom line, the net profit increased nearly 25% YoY to ₹280 crore.
For FY26, the company reported revenue of ₹11,750 crore, EBITDA of ₹1,240 crore, and adjusted PAT of ₹930 crore, reflecting YoY growth of 21%, 25%, and 33%, respectively. EBITDA margin expanded 40 basis points YoY to 10.6%, as per the company’s earnings filing.
The company’s order book remained healthy, with a backlog that included ₹625 crore in EHV cables, ₹310 crore in EPC projects, ₹2,150 crore in domestic institutional cables and ₹500 crore in export orders.
KEI Industries remains optimistic and has guided for strong volume growth of around 17–18% in FY27 and nearly 20% in FY28, supported by robust capex momentum across key sectors and the ramp-up of its capacity expansion plans.
Following the company’s performance, domestic brokerage firm Motilal Oswal Financial Services retained its ‘Buy’ rating on the stock with a target price of ₹5,780 apiece. Similarly, JM Financial also maintained its ‘Buy’ call and revised its target price to ₹5,800 from ₹5,300 earlier.
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