Financial Performance Summary

Consolidated Financial Results (Q1 FY27 vs Q1 FY26):

  • Revenue: Rs. 5,024 crore (vs Rs. 5,023 crore YoY) - essentially flat
  • EBITDA: Rs. 291 crore (vs Rs. 350 crore YoY) - decline of 16.9%
  • EBITDA Margin: 5.8% (vs 7.0% YoY) - contraction of 120 basis points
  • Interest as % to Revenue: 3.3% (vs 3.0% YoY) - increase of 30 basis points
  • PBT: Rs. 90 crore (vs Rs. 159 crore YoY) - decline of 43.4%
  • PBT Margin: 1.8% (vs 3.2% YoY) - contraction of 140 basis points
  • PAT: Rs. 73 crore (vs Rs. 125 crore YoY) - decline of 41.6%
  • PAT Margin: 1.4% (vs 2.5% YoY) - contraction of 110 basis points

Standalone Financial Results (Q1 FY27 vs Q1 FY26):

  • Revenue: Rs. 3,898 crore (vs Rs. 4,030 crore YoY) - decline of 3.3%
  • EBITDA: Rs. 156 crore (vs Rs. 197 crore YoY) - decline of 20.8%
  • EBITDA Margin: 4.0% (vs 4.9% YoY) - contraction of 90 basis points
  • Interest as % to Revenue: 3.5% (vs 3.1% YoY) - increase of 40 basis points
  • PBT: Rs. 1 crore (vs Rs. 50 crore YoY) - decline of 98.0%
  • PBT Margin: 0.0% (vs 1.2% YoY) - contraction of 120 basis points
  • PAT: Rs. 1 crore (vs Rs. 37 crore YoY) - decline of 97.3%
  • PAT Margin: 0.0% (vs 0.9% YoY) - contraction of 90 basis points

Order Book and Business Development

Order Intake:

  • Year-to-date Order Intake of Rs. 6,303 crore across multiple business verticals including T&D, Civil, Renewables, Cables & Conductors, and Transportation

Order Book Position:

  • Current order book & L1 position stands at over Rs. 40,000 crore
  • Robust tender pipeline exceeding Rs. 2 lakh crore

Balance Sheet and Liquidity Position

Debt Reduction:

  • Net debt including Acceptances reduced by more than Rs. 150 crore to Rs. 6,568 crore as on June 30, 2026 compared to March 31, 2026

Working Capital Management:

  • Net Working Capital (NWC) reduced to 134 days as on June 30, 2026 compared to 137 days as on March 31, 2026

Management Commentary

Mr. Vimal Kejriwal, MD & CEO, commented on the performance:

  • Described the quarter's performance as "resilient" despite challenging operating environment
  • Cited three specific challenges affecting performance: continued geopolitical disruptions in the Middle East, labor shortages, and calibrated execution of water projects due to delayed payments
  • Characterized these challenges as "largely transitory"
  • Noted improving conditions: supply chains gradually normalizing and labor availability improving
  • Expressed confidence in delivering stronger execution and improved financial performance in coming quarters based on strong order book position (over Rs. 40,000 crore), robust tender pipeline, and strong opportunities across domestic and international markets

Business Overview

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major with presence in verticals including 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, which reported a turnover of US$ 5.2 Billion.