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Capex plans, robust demand may keep KEI charged up
Mint Chennai
|December 31, 2024
KEI Industries Ltd is preparing to carry out its enhanced capital expenditure (capex) guidance.
The cable and wire company recently completed a fundraise of ₹2,000 crore via a qualified institutional placement (QIP) at ₹3,800 a share. These funds are expected to help its balance sheet and support its greenfield expansion at Sanand in Gujarat, where it plans a ₹1,800-1,900 crore of capex (in phases) to increase its cable capacity. That is expected to generate additional revenue of ₹5,000 crore by FY28.
The company has been expanding its cable and wire capacities across facilities. "Its cable capacity increased about 36% and wires capacity 27% in H1 FY25 compared to FY24-end capacity," said a Motilal Oswal Financial Services report dated 27 December.
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