KSH International Ltd

KSH International announced that CARE Ratings has upgraded the company's long-term credit rating to 'A' from 'A-', and reaffirmed the outlook as 'Stable'.Powered by Capital Market - Live

The agency has also upgraded the company's short term rating to 'CARE A1' from 'CARE A2'. CARE Ratings stated that upgrade in ratings assigned to bank facilities of KSH International factors in substantial improvement in the scale of operations and profitability in FY25 and 9M FY26 and strengthening of capital structure post the fund raising by way of initial public offer (IPO). Growth was supported by sustained demand from key end-user industries and higher realisation. Ratings upgrade also considers successful commissioning of the greenfield project without cost overrun. CARE Ratings expects KSH to sustain revenue growth while maintaining profitability levels supported by capacity enhancement. The ratings continue to derive strength from long-track record of operations, experienced promoter group, established and diversified customer base and KSH's healthy market position in the copper windings wire industry. These strengths are partially offset by modest profitability, exposure to raw material price volatility, working capital intensive operations and end-user concentration in revenue. KSH International manufactures insulated copper conductors, which include CTC, paper insulated copper conductors (PICC), wrapped and enamelled rectangular copper/aluminium magnet winding wires and other specialty conductors. As on 31 December 2025, KSH had manufacturing capacity of 43,445 MTPA. The scrip fell 1.34% to currently trade at Rs 367.40 on the BSE. Powered by Capital Market - Live

Net profit of KSH International declined 9.33% to Rs 23.33 crore in the quarter ended December 2025 as against Rs 25.73 crore during the previous quarter ended December 2024. Sales rose 58.52% to Rs 817.77 crore in the quarter ended December 2025 as against Rs 515.88 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales817.77515.88 59 OPM %6.047.79 - PBDT39.8337.43 6 PBT32.8032.78 0 NP23.3325.73 -9 Powered by Capital Market - Live

KSH International will hold a meeting of the Board of Directors of the Company on 7 February 2026.Powered by Capital Market - Live

Profit before tax (PBT) soared 111.52% to Rs 36.53 crore in Q2 FY26 compared with Rs 17.27 crore in Q2 FY25. EBITDA surged 74% to Rs 46.11 crore in Q2 FY26 as against 26.46 crore in Q2 FY25. Sales volume jumped 7,037.4 metric tonnes (MT) in Q2 FY26 compared with 5,739 MT in Q2 FY25. EBITDA per ton jumped 42.1% YoY to Rs 6,551.59 as against Rs 4,611.37 in corresponding quarter last year. During Q2 FY26, the company reported strong revenue growth across all segments compared with Q2 FY25. Revenue from specialized wires increased significantly to Rs 509.68 crore from Rs 339.70 crore, registering a growth of 50.0%. The standard wires segment also delivered an impressive performance, with revenue rising to Rs 154.21 crore from Rs 96.80 crore, reflecting a sharp growth of 59.3%. During the quarter, revenue from exports climbed 21.7% YoY to Rs 196.15 crore. Rajesh K. Hegde, managing director of KSH International said: 'We are pleased to report the highest quarterly revenue and profitability in our 45-year history. These results and achievements have significant and strategic impacts on the long-term development and trajectory of the Company. utilization on our original 29,045 MT capacity is running above 90% in Q2 FY 2026 but will now be boosted with 12,000 MTs out of our proposed 30,000 MTs capacity expansion, being completed in Supa, and will be available for the second half of FY 2026. The new capacity was installed at the end of September 2025, taking annualized capacity up to 41,045 MTs, and sales from this facility have commenced on October 1, 2025; we continued to focus on higher value-added products with specialized magnet winding wires revenue growing 50% in Q2 FY26, compared to a year ago, driven by demand for CTC, especially 765kV transformers, as well as exports. This in turn has fuelled an approximate 90-basis point and 140-basis point improvement in EBITDA and PAT margins respectively, compared to Q2 FY25; with the IPO proceeds, we have now repaid Rs 2,259.77 million of short-andlong-term debt, in Q3 FY2026, further improving our balance sheet position. This includes the repayment of the term debt we availed to fund the Phase 1 expansion of our new Supa facility. Industry tailwinds for the power transformer industry, and long-term potential for EV traction motors and round wires, together with our newly available capacity, positions us well to sustain our industry leading growth and unit economic profitability.' KSH International provides ultra-precision special and standard magnet winding wires to OEMs across power, renewables, railways, motors for EVs and ICE, motors for industrial, home appliances, compressors for air conditioning and refrigeration.Powered by Capital Market - Live

KSH International will hold a meeting of the Board of Directors of the Company on 5 January 2026.Powered by Capital Market - Live

The stock debuted at Rs 370 on the BSE, exhibiting a discount of 3.65% over the issue price. So far, the stock has hit a high of 370 and a low of 355. On the BSE, over 3 lakh shares of the company were traded in the counter so far. The offer comprises both fresh issue (issue of new shares of Rs 5 face value aggregating to Rs 420 crore) and offer for sale (of shares aggregating to Rs 290 crore) by promoter selling shareholders. Of the net proceeds from fresh issue, the company propose to utilize Rs 225.977 crore towards prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company; Rs 87.017 crore towards expansion of capacity at its existing manufacturing plants at both Supa and Chakan; Rs 8.828 crore towards purchasing and setting up of a rooftop solar power plant for power generation at its manufacturing unit at Supa and balance for general corporate purposes. Ahead of the IPO, KSH International on 16 December 2025, the company raised Rs 212.99 crore from anchor investors, by allotting 55.46 lakh shares at Rs 384 each to 13 anchor investors. KSH International, promoted by Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde, Rohit Kushal Hegde and Rakhi Girija Shetty, is a leading manufacturer of Insulated Rectangular & Round Magnet Winding wires and Continuously Transposed Conductors in India. Its products are critical components of capital goods such as transformers, motors, alternators and generators. The company market and sell its products through its brand 'KSH'. In FY25, revenue from sales of specialized magnet winding wires accounted for 74.79% of revenue from operations and balance 25.21% is from standard magnet winding wires. For the three month ended 30 June 2025, the firm recorded a standalone net profit of Rs 22.68 crore and income from operations of Rs 558.71 crore.Powered by Capital Market - Live

The equity shares of KSH International (Scrip Code: 544664) are listed and admitted to dealings on the Exchange in the list of ''B'' Group Securities. At 09:51 IST, the stock was trading at a discount of 3.65% to the issue price of Rs 384. Powered by Capital Market - Live