KSH International (KSHINTL) Q2 25/26 earnings summary

Executive summary

• Achieved record financial performance in Q2 FY2026, with 50.7% year-over-year revenue growth and significant increases in EBITDA and PAT, driven by specialized winding wires and capacity expansion.

• EBITDA margin improved to 7.2% in Q2 FY2026, supported by higher value-added product sales and export growth.

• PAT margin rose to 4.1% in Q2 FY2026, reflecting strong operational performance.

• Completed Phase 1 of Supa facility expansion, increasing installed capacity to 41,045 MT, with further expansion to 59,045 MT planned by FY2027.

• The company completed an IPO post-period, raising Rs. 4,200 million via fresh issue and Rs. 2,063.5 million via offer for sale, with shares listed on BSE and NSE on December 23, 2025.

Financial highlights

• Q2 FY2026 revenue from operations was INR 7,122 Mn (up 50.7% YoY); H1 FY2026: INR 12,709 Mn (up 40.5% YoY).

• Q2 FY2026 EBITDA: INR 461 Mn (up 74.2% YoY); H1 FY2026 EBITDA: INR 864 Mn (up 83.3% YoY).

• Q2 FY2026 PAT: INR 296 Mn (up 128.9% YoY); H1 FY2026 PAT: INR 523 Mn (up 119.6% YoY).

• Basic EPS for Q2 FY26 was 5.21, up from 2.27 in Q2 FY25; half-year EPS was 9.20, up from 4.19 year-over-year.

• Export revenue contributed 29.97% of operating revenue for the six months ended Sep 30, 2025.

Outlook and guidance

• Focus on growing volumes in high-value segments (PMD, EV motors, exports) and expanding international presence.

• Plans to expand capacity to 59,045 MTPA over the next 15 months.

• Expecting continued margin improvement through scale, backward integration, and sustainability initiatives.

• The company will provide updates on IPO proceeds utilization in the next reporting period.