KSH International Releases Q3FY26 Earnings Call Transcript with Strategic Insights
KSH International Limited released the official transcript of its Q3FY26 earnings conference call held on February 09, 2026, providing comprehensive insights into the company's record-breaking financial performance and strategic expansion initiatives. The transcript covers detailed management commentary on business positioning, HVDC market leadership, capacity expansion progress, and future growth strategies.
*this image is generated using AI for illustrative purposes only.
KSH International Limited has released the official transcript of its Q3FY26 earnings conference call held on February 09, 2026, providing detailed insights into the company's record-breaking performance and strategic expansion initiatives. The transcript was submitted to BSE and NSE on February 12, 2026, under Regulation 30 and Regulation 46(2)(oa) of SEBI Listing Regulations.
Earnings Call Details and Regulatory Compliance
The earnings conference call was conducted to discuss the company's unaudited financial results for the quarter and nine months ended December 31, 2025. The call was hosted by ICICI Securities Limited and featured key management personnel including Managing Director Rajesh Hegde, CFO Amod Joshi, Head of Investor Relations Dhruv Chopra, and Head of Secretarial & Legal Nakul Patil.
| Communication Parameter: | Details |
|---|---|
| Call Date: | February 09, 2026 |
| Transcript Release: | February 12, 2026 |
| Host: | ICICI Securities Limited |
| Website Location: | https://kshinternational.com/investor-relations/transcripts/ |
| BSE Scrip Code: | 544664 |
| NSE Symbol: | KSHINTL |
Key Management Commentary on Business Performance
Managing Director Rajesh Hegde highlighted the company's position as potentially the second largest winding wire manufacturer in India with installed capacity of 43,445 metric tons. He emphasized that Q4 FY26 would be the first full quarter post-listing and more representative of underlying business trends. The company expects production capability of 28,500 to 29,500 metric tons for the full year.
CFO Amod Joshi provided detailed financial analysis, noting that specialized winding wires represented approximately 75% of total revenue in Q3FY26. He outlined several non-recurring items affecting Q3 performance, including Rs.1.60 crore exceptional expense for new Labour Codes implementation and Rs.2.70 crore interest on Supa facility loan.
Strategic Business Positioning and Market Leadership
The transcript reveals KSH International's strong market position in Continuously Transposed Conductors (CTC), where the company maintains leadership in India. The company serves approximately 120 leading domestic and global OEM customers with over 90% revenue from repeat customers. Export revenue grew 37% year-over-year in Q3FY26, representing around 27% of total revenues.
| Business Segment: | Q3FY26 Performance |
|---|---|
| Specialized Wires Revenue Share: | ~75% of total revenue |
| Export Revenue Growth: | +37% YoY |
| Customer Base: | ~120 OEMs |
| Repeat Customer Revenue: | >90% |
| CTC Market Position: | Leader in India |
HVDC and High-Value Product Focus
During the call, management discussed the company's exclusive position in supplying specialized winding wires for HVDC (High Voltage Direct Current) transformers in India. The company has received cumulative orders for 37 HVDC transformers to be supplied over 12-18 months. Management noted that KSH International is the only Indian company approved to supply to HVDC 400kV transformers.
Capacity Expansion and Operational Metrics
The Supa facility Phase 1 expansion added 12,000 metric tons capacity at the end of September 2025, with an additional 2,400 metric tons added during Q3. The facility achieved over 50% capacity utilization in its first three months of operation. Management expects sequential volume increases every quarter, driving better operating leverage.
| Operational Metric: | Current Status |
|---|---|
| Total Installed Capacity: | 43,445 MT |
| Supa Phase 1 Capacity: | 12,000 MT |
| Q3FY26 Capacity Utilization: | 68% |
| Supa Utilization (First 3 months): | >50% |
| Phase 2 Completion Timeline: | 14 months |
| Final Capacity Target: | 59,045 MT |
Financial Performance Insights
The earnings call provided detailed explanations of Q3FY26 financial performance, including the impact of copper price pass-through mechanisms and working capital management strategies. Management confirmed EBITDA per ton sustainability at Rs.65,000-66,000 levels and outlined plans to improve working capital days through better supplier payment terms.
Investor Engagement and Transparency
The comprehensive transcript demonstrates KSH International's commitment to transparent investor communication. The document includes detailed Q&A sessions with analysts from ICICI Securities, LIC Mutual Fund, Inved Research, Birla Family Office, and Nuvama Wealth, covering topics from capacity utilization to market competitiveness and future growth strategies.
Company Secretary Sarthak Arun Malvadkar confirmed the transcript's availability on the company website, ensuring continued stakeholder access to management insights and strategic direction discussions.
Source: KSH International Limited
17
