KEI Industries Limited has utilised INR 1,372.27 crore of the INR 1,450 crore earmarked for its cable manufacturing facility in Sanand, Ahmedabad, as of September 2026, with production of extra-high voltage (EHV) cables scheduled to begin in Q4 FY27.

Oct 23, 2026

KEI Industries Limited has invested INR 307.58 crore in the first half of FY27 towards setting up its cable manufacturing facility in Sanand, Gujarat, taking the cumulative expenditure to INR 1,372.27 crore. The update was disclosed in the monitoring agency report issued by CARE Ratings Limited for the quarter ended September 30, 2026.

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The company had allocated INR 1,450 crore from the INR 2,000 crore raised through a Qualified Institutional Placement (QIP) in November 2024 to partially fund the Sanand facility. Of this amount, INR 161.41 crore was utilised in FY25, INR 903.28 crore in FY26 and INR 307.58 crore in H1 FY27. The remaining unutilised amount stood at INR 77.73 crore as of September 30, 2026.

The report noted that the first phase of production of Low-Tension (LT) and High-Tension (HT) cables at the Sanand facility was commissioned by December 2025. Production of EHV cables is expected to commence in Q4 FY27.

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The original schedule envisaged expenditure of INR 849.01 crore in FY25 and the remaining INR 600.99 crore in FY26. However, the project remains in progress, with the monitoring agency report indicating a delay against the original capex timeline.