Transcripts of Analysts/Investors Call pertaining to the Un-Audited Financial Results for the quarter ended on September 30, 2026.

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@kei-ind.com Website: www.kei-ind.com Date: 29.10.2026 The Manager, The Manager, Listing Operation, Listing Division, BSE Limited, The National Stock Exchange of India Ltd., 25th Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Mumbai- 400 001. Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 517569 NSE Symbol: KEI Sub: Transcript of Analysts/Investors Call pertaining to the Un-audited Financial Results for the quarter ended on September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of audio call recording of the Company’s Analyst Call held on Thursday, 22nd October, 2026 to discuss the Un-audited Financial Results (Standalone and Consolidated) for the quarter ended on September 30, 2026. The transcript is also available on the website of the Company: https://www.kei-ind.com/wp-content/uploads/2026/10/Transcripts.pdf This is for your information and record. Yours truly, For KEI INDUSTRIES LIMITED (KISHORE KUNAL) Sr. VP (CORPORATE FINANCE) & COMPANY SECRETARY “KEI Industries Limited Q2 FY27 Earnings Conference Call” October 22, 2026 MANAGEMENT: MR. ANIL GUPTA – CHAIRMAN CUM MANAGING DIRECTOR – KEI INDUSTRIES LIMITED MR. RAJEEV GUPTA – EXECUTIVE DIRECTOR, FINANCE AND CHIEF FINANCIAL OFFICER – KEI INDUSTRIES LIMITED MODERATOR: MR. ACHAL LOHADE – NUVAMA INSTITUTIONAL EQUITIES Page 1 of 19 KEI Industries Limited October 22, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the KEI Industries Q2 FY27 Earnings Conference Call hosted by Nuvama Institutional Equities. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Achal Lohade from Nuvama Institutional Equities. Thank you, and over to you, sir. Achal Lohade: Yes. Thank you. Good afternoon, everyone. On behalf of Nuvama Institutional Equity, we are glad to host the senior management of KEI Industries Limited to discuss the Q2 Earnings. We have with us Mr. Anil Gupta, Chairman cum Managing Director of the company; Mr. Rajeev Gupta, Executive Director of Finance and CFO. We'll start the call with the opening remarks from the management and then move to Q&A session. Thank you, and over to you, sir. Anil Gupta: Thank you very much. I'm Anil Gupta, CMD, KEI Industries Limited. Thank you for attending this conference call. I'll give you a brief of quarter 2 of '26-'27 financial year. So net sales in Q2 of FY27 is INR 3,776 crores. So we have achieved a growth by 38.52%. However, the total wire and cable sales in Q2 has grown by 39.5% against previous year same period. During Q2 FY '26-'27, operating margin is almost at par at 9.97% against 9.88% previous year same period. EBITDA in this quarter is INR 401crores against INR311 crores last year, which margin EBITDA margin over net sales was 10.62% in this quarter. The growth in EBITDA is 28.69%. Profit after tax this quarter is INR262.45 crores against INR203.51 crores in last year. Growth in the PAT is 28.96%. Profit after tax/net sales margin is 6.95% versus 7.46% previous year same period. Domestic wire and cable sale is INR 3,184 crores with a growth of 46%. Export sale in this quarter is INR 493 crores against INR 472 crores last year. We have very good order book position from overseas market, particularly United States. We are quite hopeful that in coming quarters, exports will grow substantially. Total EHV sale this quarter is INR 217 crores against INR 172 crores in the previous period last year. EPC sale is INR 46 crores against INR 47 crores. Stainless steel wire sale is INR 61 crores against INR 53 crores previous year same period. Domestic institutional wire and cable contribution that means B2B sale is 26% in the overall sales. Sales through B2C sale against distribution network is 59% and contribution of export is 13% and balance 2% is domestic EPC and domestic stainless steel wire. For first half of 6 months in FY 27, net sales achieved is INR 6,961 crores. So the growth in H1 is almost 31%. But however, total wire and cable sales growth is 32% against previous year same period. Page 2 of 19 KEI Industries Limited October 22, 2026 During H1, operating margin has improved to 11.09% and EBITDA achieved is 11.73% against 11.46% in the same period previous year. Growth in EBITDA in first half is 34%. Profit after tax is INR 536.59 crores. Growth in the PAT is 34.4%. Domestic wire and cable sales, total growth in domestic wire and cable growth is 38%. Export sale is INR 834 crores as against INR 846 crores last year. Total sale of extra high-voltage cable is INR 403 crores as against INR 298 crores last year. The total active working dealers of the company as on 30th September is 2,146. Total order book at the moment in Wire and Cable segment is INR 4,927 crores, EPC INR 258 crores. And out of this order book, around INR 991 crores are export orders. External rating, long-term ratings from CARE India Ratings and ICRA is AA+ and that of short term is A1+. Book value of the company per equity share is INR 753 as against INR 697 as on March 31, 2026. Cash and bank balances on 30th September is INR 698 crores, which includes QIP balance of INR 169 crores. During H1 FY '26-'27, company has incurred a capital expenditure payment of INR 402 crores, out of which Sanand capex is INR 333 crores. Till 30th September '26, total capex payment incurred for Sanand is INR1,876 crores. Another INR 200 crores approximately will be spent in balance 6 months of FY '26-'27. Company is expected to incur capital expenditure of approximately INR 600 crores annually for next 3 to 4 years. At present, company is having total metal consuming capacity of approximately 1,83,000 metric ton per annum, including both copper and aluminum. The planned commercial production of Phase 2 of extra high-voltage cable and HT cable in Sanand will commence by end of March '27. Capacity utilized during H1 '27 is approximately 77% in Cable division, 64% in House Wire division, 91% in Stainless Steel Wire division and 43% in the communication cable capacity. Sanand capacity addition is taking time to ramp up and in coming months, capacity utilization will increase month after month. Also, we have sufficient capacity to grow house wires production and sales for next 2 to 3 years. Now based on the strong demand in domestic and overseas markets, we are hopeful to grow in the current year by more than 25% and in next 3 to 4 years by 20% CAGR. There is a good demand and demand growth of our wires and cables in data center, power, T&D, renewable energy like solar and wind and also even the thermal power projects now coming up in a big way, electric vehicles infrastructure, railway electrification, metros, urban infrastructure as well. Also manufacturing -- new manufacturing projects in domestic as well as in global markets are also attracting good demand. Wire demand is strong in housing and commercial spaces. Thank you very much. This is a brief from my side. I would be glad to answer your any queries, if you have. Thank you very much. Page 3 of 19 KEI Industries Limited October 22, 2026 Moderator: Thank you, sir. We will now begin with the question-and-answer session. Anyone who wishes to ask question may press star and one their touch-tone telephone. If you wish to remove yourself from question queue you may press star and two. Participants are requested to use a handset while asking a q [Showing first 8,000 characters — download PDF for full document]