Interim report
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BRUGG CABLES Well connected. KEI is under Technical Collaboration Agreement with RUGG to manulaclure EFIV cables up to 400kV KEI Industries Limited Registered and Corporate Office: D-90, Okhla Industrial Area, Phase-1, New Delhi- 110020 CIN: L74899DL1992PLC051527 Tel.: +91-11-26818840/8642/0242, Email: info a kei-ind.com Website: www.kei-ind.com Date: 21-10-2026 The Manager, Listing Operation, BSE Limited, 25th Floor, Phiroze Jeejeebhoy Towers, Dalai Street, Fort, Mumbai- 400 001. Scrip Code: 517569 The Manager, Listing Division, The National Stock Exchange of India Ltd., Exchange Plaza, Plot No. C/1, G Block, Bandra Kuria Complex, Bandra (E), Mumbai — 400 051 NSE Symbol: KEI Sub: Outcome of Board Meeting — Disclosure/ Announcements pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 Dear Sir / Madam, Pursuant to Regulation 30, 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform you that the Board of Directors of the Company at their meeting held on Wednesday, the 21st day of October 2026, has approved inter-alia, the following: 1. Standalone and Consolidated Un-Audited Financial Results for the quarter and half year ended 30th September, 2026. 2. Limited Review Report of the Statutory Auditors on the aforesaid Standalone and Consolidated Un-Audited Financial Results for the quarter and half year ended 30th September, 2026. The meeting of the Board of Directors commenced at 03.15 p.m. and concluded at 0/-1 p.m. The above information is being uploaded on website of the Company at www.kei-ind.com . You are requested to take the above on record. Thanking you, Yours truly, For KEI INDUSTRIES LIMITED For USTRIE,S LIMITED • v■ ANIL GUPTA (A r aWAI Mei - in-Managing Director Chairman-cum-Managing Director Works-I : Bhiwadi : SP-919/920/922, RIICO Industrial Area, Phase-III, Bhiwadi, Dist. Alwar-301019 (Rajasthan); Tel : 01493-220106/221731, E-mail: bhiwadiakei-ind.com Works-II : Chopanki : A-280-284 RIICO Industrial Area (Chopankij Dist. Alwar-301019 (Rajasthan); E-mail: chopanki©kei-ind.com Works-III : Silvassa : 99/2/7, Madhuban Industrial Estate, Rakholi, Silvassa UT of Dadra & Nagar Haveli and Daman & Diu-396230; Tel: +91-7359344404/7359244404; E-mail: silvassa@kei-ind.com : Delhi : F-90/1-A, F Block, Okhla Industrial Area, Phase-1, New Delhi - 110020, Tel, : +91 11 6905 6800 : Chennai : No.04, (Old No.23) SIR C P Ramasamy Road, 2' Floor, Near Apollo Spectra Hospital, Alwarpet, Chennai-600018; Tel : 044-42009120 2023 Kolkata : Arihanth Benchmark, 4`" Floor, 113-F, Matheshwartoia Road, Kolkata-700046, Tele: 033-40620820/40620821; E-mail: kolkataekei-ind.com Mumbai : Nirvan Corporate, 7' Floor, Opposite Aghadi Nagar, Pump House, Jijamata Road, Andheri East, Mumbai-400093; Tel: 91-22-28239673/28375642 E-mail: mumbai@kei-ind.com Branch Offices
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-. INDUSTRIES Regd Office: D-90 OKHLA INDUSTRIAL LIMITED ‘,„-- ,..,,,.,..,...' '', ,. AREA PHASE I NEW DELHI-110020 ' II pl ,• il,\ , 's AiddlUIL! Web: www.kei-ind.com L ,,.. - 2020-28 ,- THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (? in Million) Phone: 91-11-26818840/26818642 (CIN: L74899DL1992PLC051527) STATEMENT OF OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR Particulars Quarter ended 30-09-2026 Quarter ended 30-06-2026 Quarter ended 30-09-2025 Half year ended 30-09-2026 Half year ended 30-09-2025 Year ended 31-03-2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income (a) Revenue from (b) Other Income Total income 2 Expenses (a) Cost of materials consumed (b) Purchases of Traded Goods (c) Changes in inventory of Finished goods, Traded Goods and Work-in-progress (d) Employee benefits expense (e) Finance Costs (f) Depreciation and amortisation expense (g) Sub Contractor expense for EPC projects (h) Other expenses Total Expenses 3 Profit before Exceptional items and Tax (1-2) 4 Exceptional items 5 Profit before Tax (3+4) 6 Income Tax Current Tax Deferred Tax Total Income Tax Expenses 7 Net Profit for the period (5-6) 8 Other Comprehensive Income/(Loss) (a) Items that will not be reclassified to profit and loss in subsequent period, net of tax (b) Items that will be reclassified to profit and loss in subsequent period, net of fax Other Comprehensive Incomel(Loss) for the period (Net of Tax Expense) 9 Total Comprehensive Income for the period (7+8) 10 Paid-up equity share capital (Face Value of Z 2/- each) 11 Reserves excluding Revaluation Reserves as per balance sheet 12 Earnings Per Equity Share (of T 2/- each) (not annualised for quarters): a) Basic (Z) b) Diluted (Z) 37,764.18 245.16 38,009.34 32A09.93 27.23 (3,046.24) 1,033.04 172.38 305.78 147.21 3,427.71 34,477.04 3,532.30 - 3,532.30 848.19 59.61 907.80 2,624.50 (0.76) - (0.76) 2,623.74 191.20 27.45 27.44 31,853.42 195.73 32,049.15 29,869.53 5.87 (6,051.29) 1,042.72 176.77 285.68 139.43 2,888.80 28,357.51 3,691.64 - 3,691.64 900.63 49.61 950.24 2,741.40 5.59 5.59 2,746.99 191.20 28.68 28.66 27,263.49 422.88 27,686.37 22,133.14 222.72 (1,625.11) 860.56 141.56 201.95 176.29 2,802.48 24,913.59 2,772.78 - 2,772.78 741.14 (3.49) 737.65 2,035.13 (0.45) - (0.45) 2,034.68 191.20 21.30 21.28 69,617.60 440.89 70,058.49 62,279.46 33.10 (9,097.53) 2,075.76 349.15 591.46 286.64 6,316.51 62,834.55 7,223.94 - 7,223.94 1,748.82 109.22 1,858.04 5,365.90 4.83 4.83 5,370.73 191.20 56.13 56.10 53,16605 818.99 53,985.64 42,869.96 222.72 (2,633.49) 1,713.07 286.60 400.89 346.50 5,374.33 48,580.58 5,405.06 - 5,405.06 1,407.38 5.08 1,412.46 3,992.60 0.87 0.87 3,993.47 191.20 41.78 41.74 1.17,477.65 1,585.53 1,19,063.18 93,012.21 231.17 (4,567.62) 3,715.28 641.05 911.65 1,219.46 11,576.71 1,06,739.91 12,323.27 12,323.27 3,214.63 (75.69) 3,138.94 9,184.33 1.99 - 1.99 9,186.32 191.20 66,458.28 96.09 96.02 Standalone Segment-wise Revenue, Results, Assets and Liabilities 1. Segment Revenue (Revenue from operations) a) Segment-Cables & Wires b) Segment - Stainless Steel Wire c) Segment- EPC Projects d) Unallocated Segment Total Total Less: Inter segment elimination Total Less: Inter segment Revenue Revenue from operations 2. Segment Results Profit / (Loss) before tax and interest from each segment a) Segment - Cables & Wires b) Segment - Stainless Steel Wire c) Segment - EPC Projects Total Less: Inter segment results Net Segment Results Less: a) Finance Costs b) Other un-allocable expenditure net off un-allocable income Total Profit Before Tax 36,685.22 627.00 1,035.63 - 38,347.85 5.02 38,342.83 578.65 37,764.18 4,129.12 53.49 (89.26) 4,093.35 34.61 4,058.74 172.38 354.06 3,532.30 30,883.94 535.66 1,307.96 - 32,727.56 1.77 32,725.79 872.37 31,853.42 4,190.34 49.02 (51.34) 4,188.02 1.77 4,186.25 176.77 317.84 3,691.64 26,256.11 538.76 1,013.52 - 27,808.39 (38.16) 27,846.55 583.06 27,263.49 2,870.50 44.34 51.27 2,966.11 (13.43) 2,979.54 141.56 65.20 2,772.78 67,569.16 1,162.66 2,343.59 71,075.41 6.79 71,068.62 1,451.02 69,617.60 . 8,319.46 102.51 (140.60) 8,281.37 36.38 8,244.99 349.15 671.90 7,223.94 51,027.32 1,060.01 2,007.57 - 54,094.90 (30.52) 54,125.42 958.77 53,166.65 5,535.83 86.53 130.41 5,752.77 10.70 6,742.07 286.60 50.41 5,405.06 1,12,205.66 2,165.07 5,614.36 - 1,19,985.09 (94.58) 1,20,079.67 2,602.02 1,17,477.65 13,013.59 171.64 194.20 13,379.43 (7.59) 13,387.02 641.05 422.70 12,323.27 3. Segment Assets a) Segment - Cables & Wires b) Segment- Stainless Steel Wire c) Segment - EPC Projects d) Unallocated Segment Total 4. Segment Liabilities a) Segment - Cables & Wires b) Segment- Stainless Steel Wire c) Segment - EPC Projects d) Unallocated Segment Total 83,510.05 1,045.34 3,894.12 7,743.37 96,192.88 21,036.75 222.14 811.18 2,089.17 24,159.24 75,254.59 950.11 3,993.74 11,148.53 91,346.97 19,126,04 183.51 930.69 1,706.19 21,946.43 58,180.08 921.13 4,707.46 16,270.80 80,079.47 13,257.19 221.00 825.29 3,895.49 18,198.97 83,510.05 1,045.34 3,894.12 7,743.37 96,192.88 21,036.75 222.14 811.18 2,089.17 24,159.24 58,180.08 921.13 4,707.46 16,270.80 80,079.47 13,257.19 221.00 825.29 3,895.49 18,198.97 68,152.37 923.08 4,777.94 15,706.39 89,559.78 19,699.90 212.83 1,316.45 1,681.12 22,910.30 For STRIES IITPD ANIL GUPTA- Chairman-cum-Managing Director
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STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2026 (T in Million) Particulars As at As at 30-09-2026 31-03-2026 Unaudited Audited Assets Non-Current Assets (a) Property, Plant and Equipment 13,963.37 13,069.47 (b) Capital Work -in- Progress 12,718.76 10,023.09 (c) Right of Use Assets 3,748.23 3,785.67 (d) Other Intangible Assets (e) Financial Assets (i) Investments 7.01 46.51 8.84 17.02 (ii) Loans 12.32 7.76 (iii) Others Financial Assets 148.17 136.22 (f) Other Non-Current Assets 1,004.53 943.46 Total Non-Current Assets 31,648.90 27,991.53 Current Assets (a) Inventories (b) Financial Assets (i) Trade Receivables 36,044.80 16,768.14 24,007.87 18,416.63 (ii) Cash and Cash Equivalents 6,950.13 14,440.39 (iii) Bank Balances Other Than (ii) Above 34.57 686.04 (iv) Loans 18.34 16.80 (v) Other Financial Assets 194.15 194.75 (c) Income Tax Assets 9.18 9.36 (d) Other Current Assets 4,524.67 3,796.41 Total Current Assets 64,543.98 61,568.25 Total Assets 96,192.88 89,559.78 EQUITY AND LIABILITIES Equity (a) Equity Share Capital 191.20 191.20 (b) Other Equity 71,842.44 66,458.28 Total Equity 72,033.64 66,649.48 Liabilities Non-Current Liabilities (a) Financial Liabilities (i) Borrowings - (ii) Lease Liabilities 549.65 577.42 (b) Provisions 264.79 244.27 (c) Deferred Tax Liability (Net) 366.38 255.38 (d) Other Non-Current Liabilities 1,364.44 1,056.25 Total Non-Current Liabilities 2,545.26 2,133.32 Current Liabilities (a) Financial Liabilities (i) Borrowings 2,850.69 1,862.00 (ii) Lease Liabilities (iii) Trade Payables (A) total outstanding dues of micro enterprises and small enterprises 100.79 915.11 90.82 1,103.43 (B) total outstanding dues of creditors other than micro enterprises and small enterprises 12,415.26 12,242.33 (iv) Other Financial Liabilities 4,404.46 3,925.18 (b) Other Current Liabilities 415.41 796.81 (c) Provisions 231.71 239.96 (d) Current Tax Liabilities (Net) 280.55 516.45 Total Current Liabilities 21,613.98 20,776.98 Total Equity and Liabilities 96,192.88 _ 89,559.78 For USTRIES LIMITED ANIL GUPTA Chairman-cum-Managing Director 3
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STANDALONE STATEMENT OF CASH FLOWS FOR HALF YEAR ENDED SEPTEMBER 30, 2026 (' in Million) Half year Half year ended ended Particulars 30-09-2026 30-09-2025 Unaudited Unaudited (A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 7,223.94 5,405.06 Adjustments to reconcile profit before tax to net cash flows: Depreciation and Amortisation Expense 591.46 400.89 Dividend received (0.11) (0.10) Interest Income on Bank and other Deposits (223.43) (519.67) Interest income on Financial Assets (2.01) (1.55) Interest and other finance cost 320.44 265.93 Interest and Financial Charges on Lease Liabilities 28.71 20.67 Employee stock options expense 7.81 18.73 Provision for compensated absence/ Gratuity/Long term service 4.72 (56.65) Impairment Allowance on Trade Receivables (27.64) 61.58 Provision for warranty 7.55 3.37 Bad Debts Written off 1.21 17.54 Unrealised foreign exchange (gain)/loss (65.26) (103.38) Impact of Fair value on financial assets 0.15 (0.61) Property, Plant and Equipment and Intangible Assets Written off (net) 0.00 1.44 (Gain)/ Loss on disposal of Property, Plant and Equipment (3.25) (7.33) OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 7,864.29 5,505.92 Movements in working capital : (Increase)/Decrease in Trade Receivables including Contract Assets 1,533.37 1,438.24 (Increase)/Decrease in other financial and non-financial assets (822.49) (1,417.29) (Increase)/Decrease in Inventories (12,036.94) (3,756.46) Increase/(Decrease) in Trade Payables, other financial and non-financial liabilities and provisions including 550.94 3,282.56 Contract Liabilities Cash Generated from operations (2,910.83) 5,052.97 Income tax paid (including TDS) (net of Refund) (1,978.84) (1,223.98) Net cash flows from/(used in) operating activities (A) (4,889.67) 3,828.99 (B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property, Plant and Equipment (including Capital Work-In-Progress and Capital Advances) (4,155.61) (6,384.17) Purchase of Lease hold land & Buildings (21.74) (1,207.90) Acquisition of Other Intangible assets (0.73) (3.48) Sale of property, plant and equipment 6.58 10.40 Purchase of Investment (28.59) - Interest Income on Bank and other Deposits 304.33 480.23 Dividend Received 0.11 0.10 Maturity/(Investment) made in bank deposits (having original maturity of more than 3 months) 650.89 5,168.10 Net cash flows from/(used in) investing activities (B) (3244.76) (1936.72) (C ) CASH FLOW FROM FINANCING ACTIVITIES Interest and other finance cost (320.44) (265.93) Interest and Financial Charges on Lease Liabilities (28.71) (20.67) Working capital demand Loan - from banks (net of repayment) 625.98 (232.74) Working capital Loan from banks - Discounting Arrangements 362.71 219.59 Issue of Equity Share Capital ( including premium) upon exercise of ESOS - 10.80 ESOP Share Application Money Pending Allotment 5.63 - Dividend paid to equity shareholders (0.57) (0.04) Net cash flows from/(used in) financing activities (C) 644.60 (288.99) NET CHANGE IN CASH AND CASH EQUIVALENTS (A+B+C) (7,489.83) 1,603.28 Cash and Cash equivalents as at the beginning of year 14,440.39 10,517.41 Effect of Unrealised foreign exchange gain/(loss) on Cash and Cash Equivalents (0.43) 0.15 Cash and cash equivalents at the end of the period 6,950.13 12,120.84 Note : ,,,,,k3BHA i The Cash flow statement %. - ■ - • . Ile \ ii Amounts in brackets, rep r p -4 ■ under the 'Indirect Method' as set out in Ind AS 7 "Statement of Cash Flows". For K , ' USTRIES LIMITED iii Previous year's figures h be -cm * fR1C and rearranged wherever necessary. 11 •, ter Acc° Chairman-cum-Managing Director
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Notes: 1. The above standalone financial results have been reviewed by the Audit Committee meeting held on October 21, 2026 and thereafter approved by the Board of Directors at their meeting held on October 21, 2026. 2. The Statutory Auditors have carried out Limited Review of the financial results of the Company for the quarter and half year ended on September 30, 2026 under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors have expressed an unmodified opinion on these results. 3. These standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. 4.The Income-Tax authorities had conducted search activity during the month of May 2026 at some of the premises, plants and residences of few of the employees of the Company. The Company extended full cooperation to the Income-tax officials during the search and provided required details, clarifications, and documents. As on the date of issuance of these financial results, Company has not received any written communication from the Income-Tax authorities regarding outcome of the search, therefore, the consequent impact on the financial results, if any, is not ascertainable. The Management, after considering all available records and facts known to it, is of the view that there is no material adverse impact on the financial position of Company and no material adjustments are required to financial results for the quarter and half year ended September 30, 2026 in this regard. 5.0n November 28, 2024, the Company raised funds through QIP aggregating to 7 20,000 Million. The Net proceeds of the DIP aggregating to Z 19,656.33 Million (net-off QIP Expenses Z 343.67 Million) have been/will be utilised as per objects of the Issue. As at September 30, 2026, the unutilised amount of 1,629.00 Million has been invested/maintained in the form of bank deposits with scheduled banks and 60.12 Million has been kept in the QIP Monitoring Account 6. The Current Tax for the quarter and half year ended September 30, 2026 includes earlier years taxes amounting to 58.81 Million. The Deferred Tax for the quarter and half year ended September 30, 2026 is net of Deferred Tax Asset of earlier years amounting to 7 56,12 Million. 7. Previous year / periods figures have been regrouped / reclassified, wherever necessary. 8. The above financial results of the Company are available on the Company's website www.kei-ind.com and also at www.bseindia.com and www.nseindia.com . For K STRIES LI lilgg For I I TRIES LIMITED ANIL GUPTA Chairman-cum-Managing Director ANIL GUPTA Date. October 21, 2026 Chairman-cum-Managing Director DIN: 00006422 • 9. Place of Signing : New Delhi 5
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For PAWAN SHUBHAM & CO Chartered Accountants Firm's Reg. No. 011573C (SHUBHAM AGARWAL) Partner M.No.: 544869 UDIN 26 s—ti 4 8 6 IN 2_ tc e 92-119 601, Roots Tower 7, District Center Laxmi Nagar, Delhi-110092 Pawan@pawanshubham.com Tel 011-45108755 GA PAWAN SHUBHAM & CO. INDIA CHARTERED ACCOUNTANTS To The Board of Directors KEI Industries Limited LIMITED REVIEW REPORT OF THE INDEPENDENT AUDITORS ON THE STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON SEPTEMBER 30, 2026 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of KEI Industries Limited (the 'Company') for the quarter and half year ended September 30, 2026 (the 'Statement'), being submitted by the Company pursuant to requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations"). 2. This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on this statement based on our review. 3. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of regulation 33 of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note 4 to the accompanying financial results, which describe the search operations conducted by the Income Tax Authorities at certain premises of the Company in May 2026. Pending the completion of the search proceedings and the final assessment by the Income Tax Department, the consequent impact on the financial results for the quarter and half year ended September 30, 2026, is currently not ascertainable. Our conclusion on the statement is not modified in respect of the above matter. Place of Signature: New Delhi Date: October 21, 2026 6
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KEI INDUSTRIES / Regd Office: D-90 OKHLA INDUSTRIAL AREA LIMITED cii PHASE I NEW DELHI-110020 \ llilblyt , Web: www.kei-ind.com THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 i d, I 1 n 1 1 ' '' 1111 ),, ' tirililANNE ' Phone: 91-11-26818840/26818642 (CIN: L74899DL1992PLC051527) STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR 2025-26 (Z in Million) Particulars Quarter ended 30-09-2026 Quarter ended 30-06-2026 Quarter ended 30-09-2025 Half year ended 30-09-2026 Half year ended 30-09-2025 Year ended 31-03-2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Income (a) Revenue from operations (b) Other income Total income Expenses (a) Cost of materials consumed (b) Purchases of Traded Goods (c) Changes in inventory of Finished goods, Traded Goods and Work-in-progress (d) Employee benefits expense (e) Finance Costs (f) Depreciation and amortisation expense (g) Sub Contractor expense for EPC projects (h) Other expenses Total Expenses Profit before share of profit /(loss) of Associate (1-2) Shareof profit/ (loss) of Associate (net of tax) Profit before exceptional Items and Tax (3+4) Exceptional items Profit before Tax (5+6) Income Tax Expenses Current Tax Deferred Tax Total Income Tax Expenses Profit for the period (7-8) Other Comprehensive Income/(Loss) (a) Items that will not be reclassified to profit and loss in subsequent period, net of tax (b) Items that will be reclassified to profit and loss in subsequent period, net of tax Other Comprehensive Income/(Loss) for the period (Net of Tax Expense) Total Comprehensive Income for the period (9+10) Paid-up equity share capital (Face Value of Z 2/- each) Reserves excluding Revaluation Reserves as per balance sheet Earnings per Equity Share: (of Z 2/- each) (not annualised for quarters): a) Basic (Z) b) Diluted (Z) 37,764.18 245.16 38,009.34 32,409.93 27.23 (3,046.24) 1,033.04 172.38 305.78 147.21 3,427.71 34,477.04 3,532.30 3,532.30 3,532.30 848.19 59.61 907.80 2,624.50 (0.76) - (0.76) 2,623.74 191.20 27.45 27.44 31,853.42 195.73 32,049.15 29,869.53 5.87 (6,051.29) 1,042.72 176.77 285.68 139.43 2,888.80 28,357.51 3,691.64 _ 3,691.64 3,691.64 900.63 49.61 950.24 2,741.40 5.59 - 5.59 2,746.99 191.20 28.68 28.66 27,263.49 422.88 27,686.37 22,133.14 222.72 (1,625.11) 860.56 141.56 201.95 176.29 2,802.48 24,913.59 2,772.78 2,772.78 2,772.78 741.14 (3.49) 737.65 2,035.13 (0.45) - (0.45) 2,034.68 191.20 21.30 21.28 69,617.60 440.89 70,058.49 62,279.46 33.10 (9,097.53) 2,075.76 349.15 591.46 286.64 6,316.51 62,834.55 7,223.94 7,223.94 7,223.94 1,748.82 109.22 1,858.04 5,365.90 4.83 - 4.83 5,370.73 191.20 56.13 56.10 53,166.65 818.99 53,985.64 42,869.96 222.72 (2,633.49) 1,713.07 286.60 400.89 346.50 5,374.33 48,580.58 5,405.06 5,405.06 5,405.06 1,407.38 5.08 1,412.46 3,992.60 0.87 - 0.87 3,993.47 191.20 41.78 41.74 1,17,477.65 1,585.53 1,19,063.18 93,012.21 231.17 (4,567.62) 3,715.28 641.05 911.65 1,219.46 11,576.71 1,06,739.91 12,323.27 12,323.27 12,323.27 3,214.63 (75.69) 3,138.94 9,184.33 1.99 - 1.99 9,186.32 191.20 66,458.28 96.09 96.02 Consolidated Segment-wise Revenue, Results, Assets and Liabilities 1. Segment Revenue (Revenue from Operations) a) Segment - Cables & Wires b) Segment - Stainless Steel Wire c) Segment - EPC Projects d) Unallocated Segment Total Less: Inter segment elimination Total Less: Inter segment Revenue Revenue from operations 2. Segment Results Profit / (Loss) before tax and interest from each segment a) Segment - Cables & Wires b) Segment - Stainless Steel Wire c) Segment - EPC Projects Total Less: Inter segment results Net Segment Results Less: a) Finance Costs b) Other un-allocable expenditure net off un-allocable income Profit/ (loss) before share of profit /(loss) of Associate and tax Add: Share of profit/ (loss) of Associate (net of tax) Total Profit Before Tax 36,685.22 627.00 1,035.63 - 38,347.85 5.02 38,342.83 578.65 37,764.18 4,129.12 53.49 (89.26) 4,093.35 34.61 4,058.74 172.38 354.06 3,532.30 - 3,532.30 30,883.94 535.66 1,307.96 - 32,727.56 1.77 32,725.79 872.37 31,853.42 4,190.34 49.02 (51.34) 4,188.02 1.77 4,186.25 176.77 317.84 3,691.64 - 3,691.64 26,256.11 538.76 1,013.52 - 27,808.39 (38.16) 27,846.55 583.06 27,263.49 2,870.50 44.34 51.27 2,966.11 (13.43) 2,979.54 141.56 65.20 2,772.78 - 2,772.78 67,569.16 1,162.66 2,343.59 - 71,075.41 6.79 71,068.62 1,451.02 69,617.60 8,319.46 102.51 (140.60) 8,281.37 36.38 8,244.99 349.15 671.90 7,223.94 - 7,223.94 51,027.32 1,060.01 2,007.57 - 54,094.90 (30.52) 54,125.42 958.77 53,166.65 5,535.83 86.53 130.41 5,752.77 10.70 5,742.07 286.60 50.41 5,405.06 - 5,405.06 1,12,205.66 2,165.07 5,614.36 - 1,19,985.09 (94.58) 1,20,079.67 2,602.02 1,17,477.65 13,013.59 171.64 194.20 13,379.43 (7.59) 13,387.02 641.05 422.70 12,323.27 - 12,323.27 3. Segment Assets a) Segment - Cables & Wires b) Segment- Stainless Steel Wire c) Segment - EPC Projects d) Unallocated Segment Total 4.Segment Liabilities a) Segment - Cables & Wires b) Segment- Stainless Steel Wire c) Segment - EPC Projects d)Unallocated Segment Total 83,510.05 1,045.34 3,894.12 7,743.37 96,192.88 21,036.75 222.14 811.18 2,089.17 24,159.24 75,254.59 950.11 3,993.74 11,148.53 91,346.97 19,126.04 183.51 930.69 1,706.19 21,946.43 58,180.08 921.13 4,707.46 16,270.80 80,079.47 13,257.19 221.00 825.29 3,895.49 18,198.97 83,510.05 1,045.34 3,894.12 7,743.37 96,192.88 21,036.75 222.14 811.18 2,089.17 24,159.24 58,180.08 921.13 4,707.46 16,270.80 80,079.47 13,257.19 221.00 825.29 3,895.49 18,198.97 68,152.37 923.08 4,777.94 15,706.39 89,559.78 19,699.90 212.83 1,316.45 1,681.12 22,910.30 5-7.77---. ..-.\- STRIES LIMIT ED • ul IL GUPTA Chairman-cum-Managing Director
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TRIES LIMITED For KE CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2026 (Z in Million) Particulars As at As at 30-09-2026 31-03-2026 Unaudited Audited Assets Non-Current Assets (a) Property, Plant and Equipment 13,963.37 13,069.47 (b) Capital Work -in- Progress 12,718.76 10,023.09 (c) Right of Use Assets 3,748.23 3,785.67 (d) Other Intangible Assets (e) Financial Assets (i) Investments 7.01 46.51 8.84 17.02 (ii) Loans 12.32 7.76 (iii) Others Financial Assets 148.17 136.22 (f) Other Non-Current Assets 1,004.53 943.46 Total Non-Current Assets 31,648.90 27,991.53 Current Assets (a) Inventories (b) Financial Assets (i) Trade Receivables 36,044.80 16,768.14 24,007.87 18,416.63 (ii) Cash and Cash Equivalents 6,950.13 14,440.39 (iii) Bank Balances Other Than (ii) Above 34.57 686.04 (iv) Loans 18.34 16.80 (v) Other Financial Assets 194.15 194.75 (c) Income Tax Assets 9.18 9.36 (d) Other Current Assets _ 3,796.41 Total Current Assets 64,543.98 61,568.25 Total Assets 96,192.88 89,559.78 EQUITY AND LIABILITIES Equity (a) Equity Share Capital 191.20 191.20 (b) Other Equity 71,842.44 66,458.28 Total Equity 72,033.64 66,649.48 Liabilities Non-Current Liabilities (a) Financial Liabilities (i) Borrowings - - (ii) Lease Liabilities 549.65 577.42 (b) Provisions 264.79 244.27 (c) Deferred Tax Liability (Net) 366.38 255.38 (d) Other Non-Current Liabilities 1,364.44 1,056.25 Total Non-Current Liabilities 2,545.26 2,133.32 Current Liabilities (a) Financial Liabilities (i) Borrowings 2,850.69 1,862.00 (ii) Lease Liabilities (iii) Trade Payables (A) total outstanding dues of micro enterprises and small enterprises 100.79 915.11 90.82 1,103.43 (B) total outstanding dues of creditors other than micro enterprises and small enterprises 12,415.26 12,242.33 (iv) Other Financial Liabilities 4,404.46 3,925.18 (b) Other Current Liabilities 415.41 796.81 (c) Provisions 231.71 239.96 (d) Current Tax Liabilities (Net) 280.55 516.45 Total Current Liabilities 21,613.98 20,776.98 Total Equity and Liabilities 96,192.88 89,559.78 ANIL GUPTA Chairman-cum-Managing Director S
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CONSOLIDATED STATEMENT OF CASH FLOWS FOR HALF YEAR ENDED SEPTEMBER 30, 2026 (Z in Million) ended Half year ended nded Half year 30-09-2026 30-09-2025 Unaudited Unaudited (A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 7,223.94 5,405.06 Adjustments to reconcile profit before tax to net cash flows: Depreciation and Amortisation Expense 591.46 400.89 Dividend received (0.11) (0.10) Interest Income on Bank and other Deposits (223.43) (519.67) Interest income on Financial Assets (2.01) (1.55) Interest and other finance cost 320.44 265.93 Interest and Financial Charges on Lease Liabilities 28.71 20.67 Employee stock options expense 7.81 18.73 Provision for compensated absence/ Gratuity/Long term service 4.72 (56.65) Impairment Allowance on Trade Receivables (27.64) 61.58 Provision for warranty 7.55 3.37 Bad Debts Written off 1.21 17.54 Unrealised foreign exchange (gain)/loss (65.26) (103.38) Impact of Fair value on financial assets 0.15 (0.61) Property, Plant and Equipment and Intangible Assets Written off (net) 0.00 1.44 (Gain)/ Loss on disposal of Property, Plant and Equipment (3.25) (7.33) OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 7,864.29 5,505.92 Movements in working capital : (Increase)/Decrease in Trade Receivables including Contract Assets 1,533.37 1,438.24 (Increase)/Decrease in other financial and non-financial assets (822.49) (1,417.29) (Increase)/Decrease in Inventories (12,036.94) (3,756.46) Increase/(Decrease) in Trade Payables, other financial and non-financial liabilities and provisions including Contract Liabilities 550.94 3,282.56 Cash Generated from operations (2,910.83) 5,052.97 Income tax paid including TDS (net of Refund) (1,978.84) (1,223.98) Net cash flows from/(used in) operating activities (A) (4,889.67) 3,828.99 (B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property, Plant and Equipment (including Capital Work-In-Progress and Capital Advances) (4,155.61) (6,384.17) Purchase of Lease hold land & Buildings (21.74) (1,207.90) Acquisition of Other Intangible assets (0.73) (3.48) Sale of property, plant and equipment 6.58 10.40 Purchase of Investment (28.59) - Interest Income on Bank and other Deposits 304.33 480.23 Dividend Received 0.11 0.10 Maturity/(Investment) made in bank deposits (having original maturity of more than 3 months) 650.89 5,168.10 Net cash flows from/(used in) investing activities (B) (3244.76) (1936.72) (C ) CASH FLOW FROM FINANCING ACTIVITIES Interest and other finance cost (320.44) (265.93) Interest and Financial Charges on Lease Liabilities (28.71) (20.67) Working capital demand Loan - from banks (net of repayment) 625.98 (232.74) Working capital Loan from banks - Discounting Arrangements 362.71 219.59 Issue of Equity Share Capital ( including premium) upon exercise of ESOS - 10.80 ESOP Share Application Money Pending Allotment 5.63 Dividend paid to equity shareholders (0.57) (0.04) Net cash flows from/(used in) financing activities (C) 644.60 (288.99) NET CHANGE IN CASH AND CASH EQUIVALENTS (A+B+C) (7,489.83) 1,603.28 Cash & Cash Equivalents as at the beginning of year 14,440.39 10,517.41 Effect of Unrealised foreign exchange (gain)/loss on Cash and Cash Equivalents (0.43) 0.15 Cash and cash equivalents at the end of the period 6,950.13 12,120.84 Note : i The Cash flow statement h.; • , , . 4 • -d under the 'Indirect Method' as serail • '1 2 - .:13agniiiktria -eplows". / .01110■ \ t■ ii Amounts in brackets, rep. , ■ ∎• tt 0 Pr- • ∎ 1, ' \ / \ • c: ."-...---.„ iii Previous year's figures h - • - • • • o g ■ g and rearranged wherever necess . A 1 L GUPTA t 151'3 Chairman ,,„ R A - - • - . or
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For K C ANIL GUPTA Chairman-cum-Managing` a- :, Director DIN: 00006422 STIR:1E8i LiftvillrE EY" ° • • •--.., Notes: 1) The above consolidated financial results have been reviewed by the Audit Committee meeting held on October 21, 2026 and thereafter approved by the Board of Directors at their meeting held on October 21, 2026. 2) The Statutory Auditors have carried out Limited Review of the financial results of the Company for the quarter and half year ended on September 30, 2026 under Regulation 33 of the SERI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors have expressed an unmodified opinion on these results. 3) The consolidated financial results include the financial result of the following : - Associate- KEI Cables SA Pty Limited, South Africa. Financials of Associate are as certified by the Management. In opinion of the Management financials of associate are not material to the Group. 4) The Income-Tax authorities had conducted search activity during the month of May 2026 at some of the premises, plants and residences of few of the employees of the Company. The Company extended full cooperation to the Income-tax officials during the search and provided required details, clarifications, and documents. As on the date of issuance of these financial results, Company has not received any written communication from the Income-Tax authorities regarding outcome of the search, therefore, the consequent impact on the financial results, if any, is not ascertainable.The Management, after considering all available records and facts known to it, is of the view that there is no material adverse impact on the financial position of Company and no material adjustments are required to financial results for the quarter and half year ended September 30, 2026 in this regard. 5) On November 28, 2024, the Company raised funds through QIP aggregating to 7 20,000 Million. The Net proceeds of the QIP aggregating to 19,656.33 Million (net-off QIP Expenses 343.67 Million) have been/will be utilised as per objects of the Issue. As at September 30, 2026, the unutilised amount of 1,629.00 Million has been invested/maintained in the form of bank deposits with scheduled banks and 60.12 Million has been kept in the QIP Monitoring Account. 6) These consolidated financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. The said Financial Results of the Company and its Associate have been prepared in accordance with Ind AS 110 "Consolidated Financial Statements". 7) The Current Tax for the quarter and half year ended September 30, 2026 includes earlier years taxes amounting to 58.81 Million. The Deferred Tax for the quarter and half year ended September 30, 2026 is net of Deferred Tax Asset of earlier years amounting to 56.12 Million. 8) Previous year / periods figures have been regrouped / reclassified, wherever necessary. 9) The above financial results of the Company are available on the Company's website www.kei-ind.com and also at www.bseindia.com and www.nseindia.com . Place of Signing : New Delhi Date: October 21, 2026
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Indian Accounting Standard disclosed the information including the manner in other accounting principles generally accepted in India, has not disclosed in terms of regulation 33 of the Listing Regulations isclosed, or that it contains any material misstatement. 601, Roots Tower 7, District Center Laxmi Nagar, Delhi-110092 Pawan@pawanshubham.com Tel 011-45108755 GA PAWAN SHUBHAM & CO. INDIA CHARTERED ACCOUNTANTS To The Board of Directors KEI Industries Limited LIMITED REVIEW REPORT OF THE INDEPENDENT AUDITORS ON THE CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON SEPTEMBER 30, 2026 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of KEI Industries Limited (the 'Company') which includes Company's share of profit / (loss) in its associate for the quarter and half year ended September 30, 2026 (the 'Statement') attached herewith, being submitted by the Company pursuant to requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations"). 2. This Statement which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on this statement based on our review. 3. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: S. No. Company Name Relationship 1. KEI Industries Limited Company 2. KEI Cables SA (PTY) Limited, South Africa Associate 5. The accompanying Statement includes the financial results of an associate which reflect total net profit / (loss) of Rs. Nil. These financial results are unaudited and have been furnished to us by the Management and our conclusion on the consolidated unaudited financial results, in so far as it relates to the amounts and disclosures included in these respects are solely on such unaudited financial results. In our opinion and according to the information and explanations given to us by the Management, these financial results are not material to the Company. Our conclusion on the statement is not modified in respect of the above matter. 6. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration referred to in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid 11
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For PAWAN SHUBHAM & CO Chartered Accountants Firm's Reg. No. 011573C Place of Signature: New Delhi Date: October 21, 2026 (SHUBHAM AGARWAL) Partner M.No.: 544869 UDIN : 26 CLV-t 969 eig4 2-0A) g Lre 601, Roots Tower 7, District Center Laxmi Nagar, Delhi-110092 Pawan@pawanshubham.com Tel 011-45108755 A. PAWAN SHUBHAM & CO. INDIA CHARTERED ACCOUNTANTS 7. We draw attention to Note 4 to the accompanying financial results, which describe the search operations conducted by the Income Tax Authorities at certain premises of the Company in May 2026. Pending the completion of the search proceedings and the final assessment by the Income Tax Department, the consequent impact on the financial results for the quarter and half year ended September 30, 2026, is currently not ascertainable. Our conclusion on the statement is not modified in respect of the above matter