Consolidated Financial Performance (Q2 FY27 vs Q2 FY26):

  • Revenue: Rs. 5,468 crore (down from Rs. 6,092 crore, -10.2% YoY)
  • EBITDA: Rs. 271 crore (down from Rs. 430 crore, -37.0% YoY)
  • EBITDA Margin: 5.0% (contracted from 7.1%)
  • Interest as % to Revenue: 3.5% (increased from 2.8%)
  • PBT: Rs. 41 crore (down from Rs. 213 crore, -80.8% YoY)
  • PBT Margin: 0.7% (contracted from 3.5%)
  • PAT: Rs. 30 crore (down from Rs. 161 crore, -81.4% YoY)
  • PAT Margin: 0.5% (contracted from 2.6%)

Consolidated Financial Performance (H1 FY27 vs H1 FY26):

  • Revenue: Rs. 10,491 crore (down from Rs. 11,114 crore, -5.6% YoY)
  • EBITDA: Rs. 562 crore (down from Rs. 781 crore, -28.0% YoY)
  • EBITDA Margin: 5.4% (contracted from 7.0%)
  • Interest as % to Revenue: 3.4% (increased from 2.9%)
  • PBT: Rs. 131 crore (down from Rs. 371 crore, -64.7% YoY)
  • PBT Margin: 1.2% (contracted from 3.3%)
  • PAT: Rs. 102 crore (down from Rs. 285 crore, -64.2% YoY)
  • PAT Margin: 1.0% (contracted from 2.6%)

Standalone Financial Performance (Q2 FY27 vs Q2 FY26):

  • Revenue: Rs. 4,161 crore (down from Rs. 4,949 crore, -15.9% YoY)
  • EBITDA: Rs. 170 crore (down from Rs. 308 crore, -44.8% YoY)
  • EBITDA Margin: 4.1% (contracted from 6.2%)
  • Interest as % to Revenue: 3.8% (increased from 2.9%)
  • PBT: Rs. 76 crore (down from Rs. 135 crore, -43.7% YoY)
  • PBT Margin: 1.8% (contracted from 2.7%)
  • PAT: Rs. 80 crore (down from Rs. 106 crore, -24.5% YoY)
  • PAT Margin: 1.9% (contracted from 2.1%)

Standalone Financial Performance (H1 FY27 vs H1 FY26):

  • Revenue: Rs. 8,059 crore (down from Rs. 8,978 crore, -10.2% YoY)
  • EBITDA: Rs. 326 crore (down from Rs. 504 crore, -35.3% YoY)
  • EBITDA Margin: 4.0% (contracted from 5.6%)
  • Interest as % to Revenue: 3.6% (increased from 3.0%)
  • PBT: Rs. 77 crore (down from Rs. 185 crore, -58.4% YoY)
  • PBT Margin: 1.0% (contracted from 2.1%)
  • PAT: Rs. 81 crore (down from Rs. 143 crore, -43.4% YoY)
  • PAT Margin: 1.0% (contracted from 1.6%)

Order Metrics:

  • YTD Order Intake: Over Rs. 13,500 crore
  • T&D Business Order Intake: Approximately Rs. 9,500 crore
  • Order Book: Record Rs. 39,946 crore
  • Combined Order Book and L1 Pipeline: Approximately Rs. 43,500 crore

Balance Sheet and Liquidity Position:

  • Net Debt including Acceptances: Approximately Rs. 7,793 crore as of September 30, 2026
  • Net Working Capital: 155 days as of September 30, 2026

Management Commentary:

MD & CEO Vimal Kejriwal cited several challenges affecting quarterly performance:

  • Continued geopolitical and supply chain disruptions in the Middle East
  • Right of Way (RoW) and land acquisition related challenges in India T&D business
  • Calibrated supplies of select projects amidst elevated global cost environment

Despite these headwinds, the company delivered sequential revenue growth led by T&D business.

Outlook:

The company expressed confidence in improved performance in coming quarters based on:

  • Strong order book and L1 position of approximately Rs. 43,500 crore
  • Tender pipeline exceeding Rs. 2 lakh crore

Business Overview:

KEC International is a global infrastructure EPC major with presence in Power Transmission & Distribution, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. The company has a footprint in 110+ countries and is the flagship company of the RPG Group.