Research Report
Jul 15, 2026
KSH International: Preparing for the Transformer Supercycle?
Explore how KSH International is gearing up for India's transformer supercycle through capacity expansion and durable competitive advantages.
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Research Report33 days ago
KSH International: Preparing for the Transformer Supercycle
INSIGHTS
FY26 revenue grew 61% to Rs. 3,107 Cr. with EBITDA/tonne rising to Rs. 67,625, driven by shift to specialised transformer wires.
Supa expansion nearly doubles capacity, backed by structural transformer demand and 97% repeat customer revenue.
Operating cash flow turned negative (-Rs. 65 Cr.) in FY26 as inventory and receivables ballooned despite profit growth.
Arhan Mandapwala - Author
10 min read
