KSH International revenue rose 85%, profit increased 62%

KSH International Limited reported revenue from operations of Rs 1,319.654 crore for the quarter ended September 30, 2026, up 85% year on year, while profit increased 62% to Rs 47.953 crore. Total income rose to Rs 1,325.199 crore and profit before tax reached Rs 63.857 crore in the unaudited results.

What drove KSH International's September-quarter revenue growth?

KSH International's revenue from operations increased to Rs 1,319.654 crore in the quarter ended September 30, 2026, from Rs 712.148 crore a year earlier, an increase of Rs 607.506 crore. Other income rose to Rs 5.545 crore from Rs 3.561 crore, taking total income to Rs 1,325.199 crore from Rs 715.709 crore in the corresponding 2025 quarter.

KSH International's total expenses rose to Rs 1,261.342 crore from Rs 679.174 crore, compared with the Rs 609.490 crore increase in total income. Profit before exceptional items and tax therefore increased by Rs 27.322 crore to Rs 63.857 crore. The company recorded no exceptional items in either of the two September-quarter periods.

How did KSH International's profit and earnings per share change?

KSH International's quarterly profit increased to Rs 47.953 crore from Rs 29.591 crore in the quarter ended September 30, 2025, a rise of about 62%. Profit before tax rose about 75% to Rs 63.857 crore from Rs 36.535 crore, while total tax expense increased to Rs 15.904 crore from Rs 6.944 crore.

Basic earnings per equity share, not annualised, rose to Rs 7.08 in the September 2026 quarter from Rs 5.21 a year earlier. Diluted earnings per share increased to Rs 7.07 from Rs 5.20. Total comprehensive income was Rs 47.911 crore, compared with Rs 28.469 crore, after an other comprehensive loss of Rs 0.042 crore in the latest quarter.

KSH International reported higher operating and financing charges alongside the income increase. Employee benefits expense reached Rs 14.917 crore from Rs 12.283 crore, depreciation and amortisation increased to Rs 9.147 crore from Rs 3.868 crore, and other expenses rose to Rs 31.784 crore from Rs 17.240 crore. These reported movements show that costs expanded across several lines during the quarter.

Which costs increased most for KSH International in the September quarter?

KSH International's cost of materials consumed increased to Rs 1,171.876 crore in the September 2026 quarter from Rs 680.465 crore a year earlier, an increase of Rs 491.411 crore. It remained the largest expense category and accounted for most of the Rs 582.168 crore year-on-year rise in total expenses.

Finance costs more than doubled to Rs 22.250 crore from Rs 9.264 crore in the comparable 2025 quarter. The inventory-change line was an expense of Rs 11.368 crore in the latest quarter, against a Rs 43.946 crore credit a year earlier. The shift between those two reported inventory positions added Rs 55.314 crore to the year-on-year cost movement.

On a sequential basis, KSH International's revenue rose from Rs 1,164.235 crore in the quarter ended June 30, 2026, to Rs 1,319.654 crore in the September quarter. Quarterly profit rose from Rs 42.220 crore to Rs 47.953 crore. Material consumption increased from Rs 1,128.656 crore and finance costs rose from Rs 17.281 crore, while the inventory line moved from a Rs 80.702 crore credit to a Rs 11.368 crore expense.

What do KSH International's half-year cash flows and balance sheet show?

KSH International generated net cash from operating activities of Rs 42.571 crore in the six months ended September 30, 2026, compared with net operating cash used of Rs 45.685 crore in the prior-year half. Cash generated from operations was Rs 77.183 crore, compared with negative Rs 34.291 crore, before income-tax payments of Rs 34.612 crore.

The half-year cash flow included a Rs 257.696 crore increase in trade receivables and a Rs 117.089 crore increase in inventories, both cash uses. These movements were partly offset by a Rs 294.815 crore increase in trade payables. Investing activities used Rs 57.655 crore, including Rs 42.342 crore spent on property, plant and equipment, while financing activities used Rs 15.469 crore.

At September 30, 2026, KSH International had total assets of Rs 1,755.411 crore, compared with Rs 1,322.566 crore at March 31, 2026. Trade receivables increased to Rs 586.406 crore from Rs 332.711 crore and inventories rose to Rs 542.008 crore from Rs 424.919 crore. Cash and cash equivalents declined to Rs 41.563 crore from Rs 72.116 crore over the same period.

Current borrowings were Rs 318.415 crore at September 30, compared with Rs 290.225 crore at March 31, while non-current borrowings declined to Rs 22.843 crore from Rs 25.986 crore. Total equity increased to Rs 898.856 crore from Rs 808.101 crore, and KSH International reported half-year profit of Rs 90.173 crore. The statutory auditors issued an unmodified limited-review opinion on the unaudited results approved by the board on November 4, 2026.

Conclusion

KSH International's September-quarter results combined an 85% year-on-year increase in revenue with a 62% rise in profit, despite higher material consumption, finance costs and inventory-related expense. For the six months ended September 30, 2026, revenue from operations reached Rs 2,483.889 crore against Rs 1,270.860 crore a year earlier, while half-year profit rose to Rs 90.173 crore from Rs 52.271 crore.

The filing does not disclose a future revenue target, capital-spending plan or scheduled event. The reported working-capital balances remain an unresolved matter to watch, with trade receivables at Rs 586.406 crore, inventories at Rs 542.008 crore and current borrowings at Rs 318.415 crore as of September 30, 2026.