KEI Industries Limited recorded a top-line revenue of INR 6912 crore in FY 2022-23. Furthermore, the company’s CAGR over the past decade has been recorded as 17.5%. In a recent interview with Wire & Cable India, Mr. Akshit Diviaj Gupta, Director, KEI Industries Limited, shared the company’s exemplary performance in the previous FY while reflecting on the initial days of KEI’s journey. He further shared the company’s plans for achieving annual top-line revenue of INR 14,000 crore in the next five years, expansion of wires and cables product portfolio, spreading global footprint, and greenfield expansion project based in Sanand, Gujarat.
Wire & Cable India: What strategies has KEI implemented to maintain its position as an industry frontrunner, and how does it plan to sustain this growth in the evolving Indian wire and cable industry?
Akshit Diviaj Gupta: KEI has a history dating back to 1968, and has evolved into a global B2B conglomerate known for tailored solutions. Noteworthy is its consistent 20%+ YoY growth over the past five years, except during the challenging COVID period. The company operates five advanced manufacturing facilities, solidifying its industry leadership. KEI’s future in wires and cables seems bright, especially compared to rivals. It boasts NABL-accredited labs and a strong reputation for reliability and customer service. The wire and cable industry, driven by high-end specialty cables and renewable energy, including solar and wind power, along with R&D and 5G technology adoption, is poised for substantial growth in India. Overall, the industry’s future appears promising.
WCI: How has KEI consistently earned the title of ‘Super Brand’ seven consecutive times, and what practices contribute to this ongoing trust and confidence in KEI’s offerings?
ADG: KEI’s recent achievements have been truly exceptional, propelling it to new heights. In 2022, it secured an impressive 280th position in the Fortune 500 ranking, a significant jump from its 2021 ranking of 309. This rise underscores KEI’s unwavering commitment to growth and innovation.
Furthermore, KEI’s Chairman and Managing Director, Mr. Anil Gupta, was featured in Global CEO magazine, highlighting the company’s global leadership. This recognition solidifies KEI’s position as a global industry leader.
Therefore, KEI’s remarkable financial performance, demonstrated by its Fortune 500 ranking, global leadership recognition, and repeated Super Brand accolades, speaks volumes about its pursuit of excellence, customer-centric approach, and ability to excel in a competitive business landscape.
WCI: What were KEI’s wire and cable financial highlights in 2022 and what plans does the company have to further strengthen its financial position in the ever-evolving landscape of the wire and cable industry?
ADG: KEI Industries has reported an impressive top-line revenue of INR 6912 crore. Over the past decade, KEI has experienced substantial growth, achieving a remarkable Compound Annual Growth Rate (CAGR) of 17.5%. The industry’s projected growth is driven by technological advancements and increasing demand from various sectors, including Infrastructure & construction, automotive, and telecommunications.
Currently holding a robust ‘AA’ credit rating, KEI aims to further expand its top-line revenue by 15-17% and its bottom line by 18-20% in the fiscal year 2023-2024. To meet the surging demand, KEI plans to add one manufacturing line at its Silvassa plant and another at its Pathredi Plant within the upcoming year, demonstrating its commitment to growth and excellence.
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WCI: What is your company’s vision for growth and its strategic roadmap over the next five years?
ADG: In the next 5 Years we will be crossing the annual top line worth INR 14000 crore, and we will be strengthening the wires and cables product portfolio further. Currently, we are available in 55+ countries and we will be focusing more on improving our exports, spreading our footprints, and improving our exports in developed countries like the US, Europe & Australia. KEI Industries’ wires and cables have been providing quality products to the electrical industry for decades, and in the future, they will continue to expand their reach.
We are committed to providing solutions that meet the needs of our customers while being mindful of environmental sustainability. The future of KEI wires and cables looks promising, and they will continue to be a leader in the industry by providing excellent products and services.
WCI: Could you share some key highlights and transformative moments in KEI Industries’ journey from its inception in 1968 to becoming a global leader in the wires and cables industry today?
ADG: Established in 1968 as a partnership focused on rubber cable manufacturing for residential wiring, KEI has transformed into a global powerhouse offering comprehensive wire and cable solutions. With over five decades of commitment and resilience, KEI is a market leader in India, serving both the public and private sectors globally. Their extensive portfolio spans electrical wire and cable services. Notable projects include wiring the world’s largest stadium (Narendra Modi Stadium), India’s longest railroad bridge (Bogibeel Bridge), and contributions to the Bullet train and Konkan railway electrification. KEI also wired the world’s tallest statue, The Statue of Unity, and participated in India’s New Parliament construction. Backed by a recognized R&D center, staffed by skilled professionals, KEI is a global leader in its field.
WCI: Please elaborate on KEI Industries’ vision for its role in shaping the development landscape of India and its technological developments which will contribute to infrastructure and growth projects in the years ahead.
ADG: KEI has recently announced a substantial greenfield expansion project worth about 1000 crore over the next three years, which will be their largest manufacturing plant ever, located in Sanand, Gujarat. This marks a significant milestone in their journey to success and will enable KEI to introduce new wires and cable products for specialty sectors.
With the rapid advancements in technology, businesses are embracing innovative solutions to automate sales processes and streamline their operations. Such cutting-edge technology that has been introduced by KEI is Salesforce. Implementing Salesforce software will empower them to expand their channel partner reach, optimize marketing strategies, and empower teams with real-time access. By streamlining channel partner management, supporting engagement, and leveraging targeted marketing, Salesforce will enable KEI to unlock new growth opportunities.
WCI: Can you share some insights into recent marketing strategies and promotional efforts undertaken by KEI Industries that have yielded noteworthy results, and how these initiatives align for building brand recognition and customer engagement?
ADG: KEI Industries, a global brand, is actively embracing the digital landscape to expand its global presence. As principal partners of Royal Challengers Bangalore in the IPL season 2023, they’ve associated with renowned teams loved globally and associated with players like Virat Kohli, Md. Siraj, Faf Du Plessis, and Glen Maxwell. KEI Industries has been diligent in utilizing ATL, BTL, and digital media strategies, including hyper-local content on 13 TV channels, radio ads on Radio Mirchi, and print ads in leading industrial magazines.
Their robust social media presence on platforms like Facebook, Instagram, Twitter, LinkedIn, and YouTube engages a substantial audience through diverse content types.
In addition to IPL branding, KEI’s hyper-local approach, themed “World ❤ KEI,” connects with audiences through city-level messages. BTL’s efforts include branding on vehicles, key religious sites, airports, metros, and other public places.
Customer-centric strategies, such as loyalty programs and customer testimonials, strengthen KEI’s bond with its customers worldwide. In-shop branding and interactions with retailers and distributors aim to build lasting relationships.
KEI’s formidable digital presence ensures global visibility and customer loyalty, contributing to its lasting success in the digital era.
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WCI: Could you elaborate on KEI Industries’ core brand values and how they are instrumental in shaping the company’s identity and contributing to its success in the electrical industry?
ADG: KEI, as a prominent brand in the world of wires and cables, is built on a solid foundation of core values that have guided its journey to excellence. Integrity stands as a cornerstone of KEI’s values, fostering trust and transparency in all its operations. Quality is another key pillar, as KEI is committed to delivering products that meet the highest standards, ensuring safety and reliability for its customers.
Innovation is deeply ingrained in KEI’s DNA, driving the brand to continually push boundaries and develop cutting-edge solutions in the electrical industry. Sustainability is also a fundamental value for KEI, emphasizing responsible practices and eco-friendly products to contribute to a greener future.
Customer-centricity is at the heart of KEI’s ethos, where the brand provides exceptional service and solutions that cater to the unique needs of its clients. Lastly, KEI places great importance on its people, fostering a culture of respect, diversity, and growth for its employees, recognizing that they are integral to the brand’s success.
To all its stakeholders, KEI makes a promise to always love and care for them.
WCI: What does the future hold for the Indian electrical sector?
ADG: The Indian wire and cable industry, a crucial component of the nation’s infrastructure, is experiencing a notable transformation in recent years that has redefined the industry outlook. In response to changing market dynamics and technological advancements, this industry is adapting to meet the evolving demands of the 21st century. The electrical industry’s future in India is bright and sustained economic growth continues to drive electricity demand in the country. The Indian government’s significant increase in capex from INR 7.28 lakh crore to INR 10 lakh crore, aimed at boosting infrastructure development, presents substantial opportunities in the wires and cables sector.
This growth is supported by initiatives promoting domestic manufacturing, particularly in the solar energy projects, RDSS projects, and manufacturing sectors. Private capital expenditures, driven by PLI incentives, are expected to rise, along with opportunities in the real estate sector. The industry is also evolving towards high-end specialty cables due to digitalization and a focus on renewable energy sources like solar and wind power. With increased R&D and technology adoption, the wire and cable sector is poised for robust growth in the coming years.
