Financial Performance Overview
KEC International Limited reported strong financial results for FY26 with consolidated revenue of ₹23,505.54 crore, representing 8% year-on-year growth. Profit after tax stood at ₹605.59 crore, while EBITDA grew 10% to ₹1,658.57 crore. The company achieved its highest-ever order intake of ₹25,280 crore, ending the year with a robust order book of ₹36,267 crore. The Board recommended a final dividend of ₹5.50 per equity share (275% of face value).
Business Segment Performance
The company demonstrated diversified strength across business segments. Transmission & Distribution remained the largest contributor with revenue of ₹15,883 crore (24% growth) and order book of ~₹23,000 crore. Civil business showed remarkable growth with order intake exceeding ₹5,000 crore (more than double previous year) and order book of ~₹10,000 crore. Cables & Conductors through KEC Asian Cables achieved revenue of ₹2,217 crore with 23% growth.
Geographic and Operational Expansion
Revenue was well-distributed geographically: India (₹14,516 crore), Saudi Arabia (₹3,282 crore), UAE (₹1,659 crore), and Americas (₹1,795 crore). The company operated through 34 joint ventures across transmission, civil, and railway projects, recognizing share in total income from operations at ₹3,904.11 crore from these JVs.
Corporate Governance and Compliance
The Board comprises 10 directors including 6 independent members, with established committees for audit, nomination, stakeholders' relationship, sustainability, risk management, and finance. The company maintained full compliance with SEBI LODR Regulations, Companies Act 2013, and other statutory requirements. All regulatory filings were made within stipulated timelines.
ESG and Sustainability Initiatives
KEC published its comprehensive Business Responsibility and Sustainability Report (BRSR) with third-party assurance by BSI Group India. Notable achievements include all 5 Indian manufacturing plants certified Water Positive, 25% reduction in GHG emission intensity versus FY21 baseline, 23% reduction in energy consumption intensity, and 35% reduction in water consumption intensity. The company maintained 9.06% female representation in workforce with 5.36% of total wages paid to female employees.
Capital Management and Risk
Net debt stood at ₹4,976.41 crore with net debt-to-equity ratio of 0.81. The company maintained significant foreign currency exposure management with hedging activities covering major currencies. Unused borrowing facilities totaled ₹14,461.07 crore. Contingent liabilities amounted to ₹188.22 crore primarily comprising tax and civil matters.
Corporate Actions and Future Outlook
The Board approved a scheme of merger with subsidiary KEC Spur Infrastructure Private Limited. The company will hold its 21st Annual General Meeting on August 21, 2026, virtually via VC/OAVM. Management expects 60-70% of the current order book to be recognized as revenue in the next reporting period, indicating strong revenue visibility for FY27.
Signatories and Assurance
The financial statements were audited by Price Waterhouse Chartered Accountants LLP with unmodified opinion, while BRSR Core assurance was conducted by BSI Group India Private Limited. The documents were signed by Chairman Harsh V. Goenka, MD & CEO Vimal Kejriwal, CFO Rajeev Aggarwal, and Company Secretary Suraj Eksambekar.