This Magnet Wire Stock Rises 140% in 6 Months: Two Quarters That Changed the Maths
- September 23, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
KSH International rose approximately 140% in six months, from Rs 434.90 on 23 March 2026 to Rs 1,044.20 on 23 September 2026, with FY26 revenue of Rs 3,107 crore and a record high of Rs 1,198.
Quick Answer
This magnet wire stock gained approximately 140% between 23 March 2026 and 23 September 2026, moving from Rs 434.90 to Rs 1,044.20 with no split or bonus in between. The driver was earnings: the March 2026 quarter lifted revenue around 101% and the June 2026 quarter around 108%, with EBITDA per tonne reaching a record Rs 93,325. Installed capacity has gone from 29,045 tonnes in FY25 to 43,445 tonnes by June 2026, heading for 59,045 tonnes by March 2027. The share listed only in December 2025, so there is no one year or three year record to check.
This magnet wire stock has risen approximately 140% in six months, from a close of Rs 434.90 on 23 March 2026 to Rs 1,044.20 on 23 September 2026. The magnet wire stock was already climbing when the window opened, and it set a record high of Rs 1,198 on 9 September 2026.
The company is KSH International Ltd, a Pune based maker of enamelled copper winding wires that listed only on 23 December 2025. It supplies specialised magnet winding wire to power transformer makers, and the shift from standard wire to higher value products is why this magnet wire stock re-rated. A one year figure does not exist yet.
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Magnet Wire Stock Returns: What the Six Month Move Looks Like
The figure is close to close. On 23 March 2026 the share closed at Rs 434.90; on 23 September 2026 it traded at Rs 1,044.20, up around 0.31% on a previous close of Rs 1,040.95. That gain of approximately 140% puts the magnet wire stock among the stronger names on a screen of NSE small-cap stocks ranked by six month return.
There is no one year, three year or five year number for this magnet wire stock. The issue price was Rs 384 and the first trading day closed at Rs 355, so the honest long window is a since listing gain of around 194%, or about 172% on the issue price. No split or bonus has occurred.
| Period | From | To | Price return |
|---|---|---|---|
| 6 months | Rs 434.90 | Rs 1,044.20 | Around 140% |
| 3 months | Rs 863.40 | Rs 1,044.20 | Around 21% |
| 1 month | Rs 978.95 | Rs 1,044.20 | Around 7% |
| Since listing close | Rs 355.00 | Rs 1,044.20 | Around 194% |
| Since IPO price | Rs 384.00 | Rs 1,044.20 | Around 172% |
| 1Y / 3Y / 5Y | Not applicable | Not applicable | Listed Dec 2025 |
The one month column uses 24 August 2026 because 23 August was a Sunday. The path has been uneven: the magnet wire stock added roughly 21% in three months but only around 7% in the last month, and fell about 10% in the week of 14 to 18 September 2026.
Why Did This Magnet Wire Stock Rise 140% in Six Months?
Three dated events explain most of it: the Q4 FY26 results on 26 May 2026, the Q1 FY27 results in August 2026, and a five year supply framework with a global transformer major. Each was a step change in profit, not sector commentary.
Q4 FY26 Results on 26 May 2026 Doubled Quarterly Revenue
March 2026 quarter revenue was Rs 1,018.3 crore against Rs 507.8 crore, up around 101%. EBITDA rose about 60% to Rs 56.3 crore and profit after tax to Rs 34.5 crore from Rs 18.5 crore. Volume rose roughly 29% to 7,611.77 tonnes, EBITDA per tonne around 24% to Rs 74,018.
On 27 May 2026 the KSH International share price closed at Rs 825.35 against Rs 739.80, up approximately 11.6% on around 30.6 lakh shares, the heaviest volume in this magnet wire stock since listing.
Q1 FY27 Results Pushed EBITDA Per Tonne to a Record
The June 2026 quarter was stronger. Revenue reached Rs 1,164.2 crore, up around 108%, with EBITDA of Rs 74.4 crore and profit after tax of Rs 42.2 crore, both up about 86%, on volume of 7,969 tonnes at 73.4% utilisation.
The mix is what moved this magnet wire stock. Specialised wire revenue rose approximately 113% to Rs 809.3 crore, or 75.3% of sales, and EBITDA per tonne hit Rs 93,325 against Rs 65,885. On 11 August 2026 the KSH International share price closed at Rs 988.95 against Rs 900.60, up around 9.8%.
A Five Year Framework With a Global Transformer Major
Management disclosed a five year supply framework with the global arm of one of its largest customers, covering Indian and overseas plants, with quantity and pricing still being finalised. Where approvals take years, that counts for more in a magnet wire stock than a single order.
Higher voltage classes, meaning 765 kV and HVDC applications, are approximately 25% of continuously transposed conductor volumes, and this magnet wire stock is the only Indian producer approved for 400 kV HVDC transformer wire. Around 75% of revenue comes from large power transformers.
Magnet Wire Stock Margins and the Copper Pass-Through
Reported margins look thin by design. Revenue has two parts: the copper price, passed through in full, and a fixed value addition per tonne earned by this magnet wire stock. When copper rises, revenue inflates and the percentage margin falls even though rupees earned per tonne are unchanged. Judging this magnet wire stock on margin percentage alone gives the wrong answer.
The June quarter shows it: an EBITDA margin of 6.39% against 7.20%, with EBITDA per tonne up from Rs 65,885 to Rs 93,325. The model is make to order, copper is booked only once an order arrives, and the cycle runs 15 to 20 days. Currency passes through the same way, so the residual exposure in this magnet wire stock is inventory timing and working capital.
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KSH International Financials Behind the Magnet Wire Stock
FY26 revenue for this magnet wire stock was Rs 3,107 crore against Rs 1,928.3 crore in FY25 and Rs 1,382.8 crore in FY24. FY26 EBITDA was Rs 190.5 crore and profit after tax Rs 110.1 crore, up about 62%, on exports of Rs 823.4 crore.
| Quarter | Revenue (Rs cr) | Operating profit (Rs cr) | Margin | Net profit (Rs cr) |
|---|---|---|---|---|
| Jun 2025 | 559 | 40 | Around 7% | 23 |
| Sep 2025 | 712 | 46 | Around 6% | 30 |
| Dec 2025 | 818 | 49 | Around 6% | 23 |
| Mar 2026 | 1,018 | 56 | Around 6% | 35 |
| Jun 2026 | 1,164 | 74 | Around 6.4% | 42 |
Debt was Rs 316 crore in March 2026 at a debt to equity ratio of about 0.39, after borrowings were repaid from the issue. Return on capital employed was around 21% for FY26, return on equity around 13.6%. No dividend has been paid, normal for a magnet wire stock funding a ramp, and working capital is near 60 days against a 30 to 35 day target.
Customer Concentration: The Moat That Is Also the Risk
This magnet wire stock sells to more than 120 original equipment manufacturers with repeat revenue above 95% in FY26. Named customers include Hitachi Energy, CG Power, BHEL, GE Vernova and Siemens Energy. Exports reached 24 countries and were approximately 27% of June quarter revenue, with the Middle East, Europe and the United States each around 8% to 11% of sales.
The repeat rate is the moat: wire for a 765 kV transformer must be qualified over a long approval cycle. It also ties the magnet wire stock to the capital expenditure of a few very large buyers. Management flagged that a few transformer customers delayed picking up orders by weeks in the June quarter.
Capacity Expansion: 29,045 Tonnes to 59,045 Tonnes
Installed capacity was 29,045 tonnes at the end of FY25 and 43,445 tonnes by June 2026, targeting 59,045 tonnes by March 2027. The expansion sits at Unit 4 in Supa, Maharashtra, where Phase 1 is complete and Phase 2 is under way, and a 5,000 tonne copper recycling plant at Chakan has been commissioned.
Equipment for PEEK insulated wire for electric vehicle traction motors is under installation in Phase 2. Timing is the catch: fixed costs land before the volume does, and further additions depend on reaching around 85% utilisation against 73.4% today. For a magnet wire stock at a large premium to its industry, slippage shows up in the price quickly.
Shareholding: Promoters Steady, Institutions Active
Promoter holding has been unchanged at 74.58% across the three quarters disclosed since listing, down from 100% before the offer, with no pledge disclosed. Foreign institutions have added to the magnet wire stock every quarter; domestic institutions trimmed in June.
| Category | May 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Promoters | 100.00% | 74.58% | 74.58% | 74.58% |
| FII | 0.00% | 3.72% | 5.04% | 5.71% |
| DII | 0.00% | 13.09% | 13.90% | 10.87% |
| Public | 0.00% | 8.60% | 6.48% | 8.85% |
With promoters at nearly three quarters of the equity, the public float is under 9%, which is why the KSH International share price moves so violently on results days.
Risks in This Magnet Wire Stock
Valuation comes first. This magnet wire stock trades at a price to earnings ratio of approximately 54 against an industry figure of around 17.8, and at about 8.7 times a book value of Rs 119.27, on trailing earnings per share of Rs 19.14.
Second, management has guided that the record EBITDA per tonne of Rs 93,325 will not repeat, setting an FY27 expectation of around Rs 75,000 as the exceptional June mix normalises.
Third, liquidity and volatility. With a float below 9%, this magnet wire stock fell approximately 10% in the week of 14 to 18 September 2026 with no announcement, and single session moves of 9% to 12% followed the last two results.
Fourth, the record is short. The December 2025 offer was subscribed only around 0.80 times and the first close of Rs 355 was below the Rs 384 issue price. No full cycle of disclosure exists to judge this magnet wire stock through a downturn.
Fifth, execution and cash. Capacity is set to rise around 36% by March 2027, working capital is near 60 days and Rs 316 crore of debt sits on the books. A slow ramp with delayed offtake would hit cash flow before reported profit.
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KSH International Share: Analyst View
Institutional interest shows up in the register, not in published research. Foreign holding went from 3.72% in December 2025 to 5.71% in June 2026, and several domestic mutual funds appear among disclosed holders of this magnet wire stock.
KSH International Share Price Target
No verified brokerage KSH International share price target is available in the public domain as of 23 September 2026. Any precise KSH International share price target quoted for this magnet wire stock should be checked against its source.
Without a published target, levels and earnings are the references for this magnet wire stock. The 52 week high is Rs 1,198, set on 9 September 2026, and the 52 week low is Rs 330 from January 2026. At Rs 1,044.20 the KSH International share price sits around 13% below that high.
Annualising June quarter profit of Rs 42.2 crore gives approximately Rs 169 crore against a market capitalisation of around Rs 7,048 crore, or roughly 42 times. The KSH International share price is discounting a successful ramp through FY27, not the current run rate.
Other Stocks to Track From the Same Return Screen
Beyond this magnet wire stock, a screen of NSE small-cap stocks ranked by recent returns also includes related names such as Lumax Auto Technologies with a 1-year return of 76.42%, Pearl Global at 72.63% and DCB Bank at 72.52%.
Among the names covered from that screen, MTAR Technologies returned 396.53% over one year. Readers can compare this magnet wire stock with the Nifty 50 benchmark and track each of these names on Univest before making any decision.
Conclusion
The 140% gain in this magnet wire stock came from two quarters that each roughly doubled revenue, a mix shift that took specialised wire to three quarters of sales, capacity moving from 29,045 to 43,445 tonnes and a five year customer framework.
The open question is price. At approximately 54 times trailing earnings against an industry multiple of around 17.8, with EBITDA per tonne guided lower and capacity still to fill, the KSH International share price assumes the next two years go to plan. Anyone looking at this magnet wire stock after the move should size the position accordingly and consult a SEBI registered adviser.
Disclaimer: Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Which magnet wire stock rose 140% in 6 months?
Ans. KSH International Ltd (NSE: KSHINTL) is the magnet wire stock that rose approximately 140% in six months, from Rs 434.90 on 23 March 2026 to Rs 1,044.20 on 23 September 2026. It makes enamelled copper winding wires at Chakan and Supa, Maharashtra.
Why did the KSH International share price rise so sharply?
Ans. Two results did most of it. The March 2026 quarter, reported on 26 May 2026, showed revenue up around 101% and profit up about 87%, and the June 2026 quarter showed revenue up approximately 108% with record EBITDA per tonne of Rs 93,325. A five year supply framework with a global transformer customer added to the move in the magnet wire stock.
What were KSH International Q1 FY27 results?
Ans. Revenue was Rs 1,164.2 crore, up around 108% year on year, with EBITDA of Rs 74.4 crore and profit after tax of Rs 42.2 crore, both up about 86%. Volume rose roughly 30% to 7,969 tonnes at 73.4% utilisation, and specialised wire was 75.3% of sales in this magnet wire stock.
Why is the EBITDA margin of this magnet wire stock only around 6%?
Ans. Because the copper price is passed through to customers in full and the company earns a fixed value addition per tonne. When copper rises, reported revenue inflates and the percentage margin falls even though rupees per tonne hold or improve, so EBITDA per tonne is the better measure.
Is there a verified KSH International share price target?
Ans. No verified brokerage KSH International share price target is available in the public domain as of 23 September 2026. The company listed only in December 2025 and has limited coverage, so the usable references are the 52 week high of Rs 1,198 and the 52 week low of Rs 330.
When did KSH International list, and at what price?
Ans. The shares listed on 23 December 2025 after an offer priced at Rs 384 that raised Rs 710 crore. The first day closed at Rs 355, below the issue price, and the offer was subscribed only around 0.80 times.
How much capacity is KSH International adding?
Ans. Installed capacity in this magnet wire stock rose from 29,045 tonnes at the end of FY25 to 43,445 tonnes by June 2026, targeting 59,045 tonnes by March 2027. The expansion is centred on Unit 4 at Supa, alongside a 5,000 tonne copper recycling plant at Chakan.
What are the main risks in this magnet wire stock?
Ans. Valuation at approximately 54 times trailing earnings against an industry figure of around 17.8, guided normalisation of EBITDA per tonne to about Rs 75,000, dependence on a few large transformer customers, and a public float below 9%. The magnet wire stock fell around 10% in one week in September 2026 with no news.
