KSH International Board Approves ₹185 Crore Expansion, Q2 Revenue Surges 85%
KSH International reported an 85% revenue surge in Q2 FY27 to ₹897 million (EBITDA) and ₹480 million (PAT). The company's Board approved a Phase 3 expansion for Specialized Magnet Winding Wires, increasing total capacity to 72,200 MTs by Q1 FY2029, with an investment of up to ₹1,850 million. Debt reduced to ₹3,413 million.
The substantial revenue growth, coupled with a significant capacity expansion plan involving a large investment and a targeted increase in production capacity, is expected to have a material impact on the company's future performance and market position.
The company reported strong financial results with significant year-on-year growth in revenue, EBITDA, and PAT. The approval of a new capacity expansion project and a reduction in debt further contribute to a positive outlook.
KSH International Limited announced its financial results for the second quarter (Q2) and the first half (H1) of FY2027, reporting a significant 85% year-on-year growth in revenue from operations for Q2 FY27. This growth was attributed to increased volumes, a favorable product mix, and higher copper prices. EBITDA for Q2 FY27 rose by 95% to ₹897 million, while Profit After Tax (PAT) increased by 62% to ₹480 million compared to Q2 FY26.
Volumes saw a 26% increase in Q2 FY27 compared to the previous year. The company successfully completed its Phase 2 expansion at Supa six months ahead of schedule, bringing the installed capacity to 57,845 MTs as of September 30, 2026. Utilization improved to 76% in Q2 FY27. Specialized wire revenue grew by 87%, with export revenue surging by 108%, increasing its share to 32% of total revenue in Q2 FY27. Standard wire revenue increased by 119% driven by new domestic OEM customers.
KSH International achieved positive operating cash flow of ₹426 million in H1 FY27, aided by improved working capital efficiency, which reduced working capital days to 52. Total debt declined to ₹3,413 million in Q2 FY27 from ₹4,810 million in Q1 FY27, resulting in a debt-to-equity ratio of 0.38x. The company also received a new trial export order for Specialized wires for HVDC transformers and approval from Powergrid to manufacture specialized wires for 765kV transformers and reactors.
The Board of Directors has approved a Phase 3 expansion for Specialized Magnet Winding Wires at Supa, which aims to increase the total capacity to approximately 72,200 MTs by Q1 FY2029. This expansion will involve an investment of up to ₹1,850 million (approx. $22 million), funded by internal accruals and long-term debt. Management highlighted strong export growth, positive operating cash flow, debt reduction, and the strategic capacity expansion as key achievements and future drivers.
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