K E C International Ltd share Price

KEC International (KEC) is one of the EPC majors in key infrastructure sectors such as power T&D, railways, civil, urban infrastructure, solar, smart infrastructure, oil & gas pipelines and cables.
 A strategic shift in portfolio from T&D to non-T&D (13% contribution in FY16 increased to 50% in FY22)
 T&D diversified across countries with entry in ~20 countries in last five years

KEC reported a weak set of Q4FY22 numbers.
 Revenue declined marginally by 2% YoY to ₹ 4274.8 crore on account of lower execution on T&D segment
 EBITDA was at ₹ 251.7 crore, down 29% YoY with margins at 5.9%, impacted by business mix, SAE project headwinds and higher input cost
 Consequently, adjusted PAT came in at ₹ 112 crore, down 42.3% YoY
 FY22 order inflows came in highest ever at ₹ 17203 crore

Heavy electrical equipment company KEC International announced Q1FY24 results:

• Consolidated Q1FY24 vs Q1FY23:
  • Revenue: Rs 4,244 crore against Rs 3,318 crore
  • EBITDA: Rs 244 crore against Rs 168 crore
  • EBITDA margin: 5.8% against 5.1%
  • Interest as % to revenue: 3.7% against 3.0%
  • PBT: Rs 47 crore against Rs 37 crore
  • PBT margin: 1.1% against 1.1%
  • PAT: Rs 42 crore against Rs 31 crore
  • PAT margin: 1.0% against 0.9%
• Standalone Q1FY24 vs Q1FY23:
  • Revenue: Rs 3,701 crore against Rs 2,849 crore
  • EBITDA: Rs 169 crore against Rs 234 crore
  • EBITDA margin: 4.6% against 8.2%
  • Interest as % to Revenue: 3.7% against 2.6%
  • PBT: Rs 5 crore against Rs 136 crore
  • PBT margin: 0.1% against 4.8%
  • PAT: Rs 4 crore against Rs 100 crore
  • PAT margin: 0.1% against 3.5%

Vimal Kejriwal, MD & CEO, KEC International, commented, “We have delivered an impressive performance for the quarter with robust growth across Revenue, Profitability, and Order Intake. Our Topline has shown consistent growth, backed by healthy execution in both T&D and Civil businesses. We continue to deliver a sequential improvement in EBITDA margin quarter on quarter, with the margin improving by 140 bps in the last three quarters from 4.4% to 5.8%. We have successfully turned around our SAE Towers business and delivered a positive PBT for the quarter. Based on the strong order book L1 of over Rs 35,000 crore and a healthy tender pipeline, we are confident of delivering continued strong growth and improved margins in the coming quarters.”

Result PDF