KSH International FY26 profit rises 62%, eyes capacity expansion
KSH International reported a 62.00% increase in net profit to ₹1,101.26 million for FY26, driven by strong operational performance. Revenue from operations surged 61.13% to ₹31,069.71 million. For Q4 FY26, net profit increased 87.05% to ₹345.27 million, with revenue rising 100.53% to ₹10,183.42 million. The company plans to expand capacity to 59,045 MT by Q4FY27.

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KSH International reported a 62.00% increase in net profit to ₹1,101.26 million for the financial year ended March 31, 2026, driven by strong operational performance and volume growth. Revenue from operations surged 61.13% to ₹31,069.71 million for the year, compared to ₹19,282.93 million in the previous year. The company's board approved the audited standalone financial results at its meeting held on May 25, 2026. Following the results announcement, the company informed the exchanges that the audio recording of its earnings conference call held on Tuesday, May 26, 2026, is now available on its website. Additionally, the company published the audited standalone financial results in the Financial Express and Loksatta on Tuesday, March 26, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
For the quarter ended March 31, 2026, the company recorded a net profit of ₹345.27 million, an 87.05% increase from ₹184.59 million in the corresponding quarter of the previous year. Revenue for the quarter stood at ₹10,183.42 million, up 100.53% from ₹5,078.37 million in the same period last year. Total income for the year rose to ₹31,283.82 million from ₹19,381.90 million in the prior year.
Financial Performance
The company's profitability improved despite higher costs during the year. Total expenses for FY26 amounted to ₹29,808.29 million, up from ₹18,477.61 million in the previous year. Finance costs increased to ₹440.40 million from ₹279.99 million, while employee benefits expense rose to ₹528.90 million from ₹397.12 million. The profit before tax for the year stood at ₹1,459.15 million, compared to ₹904.29 million in the prior year.
The board also noted an exceptional item of ₹16.38 million for the year, recognized due to the reassessment of employee benefit obligations following the notification of new Labour Codes. This incremental past service cost relates to gratuity and compensated absences.
Key Financial Metrics
The following table summarises the company's full-year financial performance:
| Particulars | FY26 (₹ million) | FY25 (₹ million) | Change (%) |
|---|---|---|---|
| Revenue from operations | 31,069.71 | 19,282.93 | +61.13% |
| Total income | 31,283.82 | 19,381.90 | +61.40% |
| Total expenses | 29,808.29 | 18,477.61 | +61.30% |
| Profit before tax | 1,459.15 | 904.29 | +61.30% |
| Net profit | 1,101.26 | 679.88 | +61.98% |
| Earnings per share (Basic) | 18.38 | 11.97 | +53.50% |
The quarterly performance reflects strong revenue momentum, though EBITDA margin saw some compression on a year-on-year basis, as detailed below:
| Particulars | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Revenue from operations (₹ million) | 10,183.42 | 5,078.37 |
| Net profit (₹ million) | 345.27 | 184.59 |
| EBITDA (₹ million) | 563.41 | 351.82 |
| EBITDA Margin (%) | 5.53% | 6.93% |
Operational Highlights
According to its investor presentation, KSH International achieved a sales volume of 28,167.67 MT in FY26, up from 23,323.80 MT in FY25. The company's annualized capacity reached 43,445 MT as of March 31, 2026, with plans to expand to 59,045 MT by the end of Q4FY27. EBITDA per ton improved to ₹67,625 in FY26 from ₹52,536 in the previous year.
The company reported that 75.3% of its revenue share came from Specialized Magnet Winding Wires, which generated ₹21,870.68 million in revenue for FY26. Standard Magnet Winding Wires contributed the remaining 24.7%, with revenue of ₹7,167.58 million.
Capital Structure and Cash Flows
The company's paid-up equity share capital increased to ₹338.78 million as of March 31, 2026, from ₹284.09 million in the previous year, following the completion of an Initial Public Offering (IPO) in December 2025. The IPO comprised a fresh issue and an offer for sale, with shares listed on BSE and NSE on December 23, 2025. Additionally, the company had undertaken a share split and bonus issue in February 2025.
Cash and cash equivalents as of March 31, 2026, stood at ₹721.16 million, a substantial increase from ₹103.68 million in the prior year. Net cash generated from financing activities was ₹3,058.24 million, primarily driven by IPO proceeds of ₹3,974.82 million. The company utilized ₹2,259.77 million of IPO proceeds for the prepayment of term loans and working capital facilities.
Kirtane & Pandit LLP, Chartered Accountants, audited the financial results and issued an unmodified opinion. The report confirms that the financial results give a true and fair view of the company's financial performance in conformity with Indian Accounting Standards.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE987S01020/e1bc2a9d-4d84-4ee6-8f36-cfa5a5d2c9be.pdf
Historical Stock Returns for KSH International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.90% | +21.30% | +16.57% | +123.42% | +123.42% | +123.42% |
How will the planned capacity expansion to 59,045 MT by Q4 FY27 impact the company's utilization rates and pricing power in the coming year?
Will the EBITDA margin compression observed in Q4 FY26 persist as the company scales up operations and integrates the new capacity?
What specific strategies will management employ to maintain the dominance of Specialized Magnet Winding Wires given its 75.3% revenue contribution?

































