KEC International reported a resilient performance in Q1 FY27 despite a challenging environment. Revenues were maintained at ₹5,024 Cr. The company strengthened its order book, ending Q1 FY27 with ₹37,697 Cr, and added new orders totaling ₹6,303 Cr year-to-date. Debt was reduced, and the company highlighted a robust tender pipeline exceeding ₹2 lakh crore.
KEC International: Q1 FY27 Performance Snapshot
KEC International has presented its investor update for the first quarter of Fiscal Year 2027 (Q1 FY27), highlighting a resilient performance amidst challenging market conditions. The company managed to maintain its revenues, which stood at ₹5,024 Cr, showing a 0% year-on-year growth compared to Q1 FY26.
Financial Performance Details
The Profit and Loss summary indicates an EBITDA of ₹291 Cr, a decrease of 17% year-on-year. Profit Before Tax (PBT) was ₹90 Cr, down 43% from the previous year, with PBT margins at 1.8%. Profit After Tax (PAT) stood at ₹73 Cr, a 42% decrease year-on-year, with PAT margins at 1.4%. The company noted that performance could have been better, citing disruptions from the West Asia crisis, labor shortages, and slower execution in water projects.
Order Book and Tender Pipeline Strength
KEC International showcased a robust order book and tender pipeline. The Year-to-Date (YTD) order intake for Q1 FY27 across all business segments (T&D, Civil, Renewables, Cables & Conductors, and Transportation) amounted to over ₹6,300 Cr. The total Order Book plus L1 position exceeded ₹40,000 Cr, with over 60% originating from the T&D segment. The tender pipeline is substantial, valued at over ₹2 lakh crore, evenly distributed between T&D and Non-T&D businesses.
Leverage and Debt Management
In terms of leverage, Net Debt including Acceptances has been reduced by over ₹150 Cr to ₹6,568 Cr as of June 30, 2026, compared to March 31, 2026. The company mentioned that debt levels could have been lower, attributing the current situation to delays in collections from Afghanistan and higher strategic inventory levels due to ongoing disruptions. Net Working Capital (NWC) has also seen a reduction to 134 days.
Business Segment Highlights
Key business segments also reported performance figures:
- T&D: Revenues of ₹3,217 Cr with an order intake of approximately ₹3,600 Cr.
- Civil: Revenue grew to ₹993 Cr, with order intake/L1 of over ₹1,400 Cr.
- Transportation: Revenues of ₹259 Cr, focusing on ongoing projects and securing orders worth over ₹250 Cr in the Automatic Block Signalling (ABS) segment.
- Cables & Conductors: Revenues of ₹601 Cr, marking a 57% growth, with steady order inflows.
- Renewables: Secured new orders of approximately ₹800 Cr across Wind and Solar segments, executing projects with a cumulative capacity of over 600 MW.
- Oil & Gas: Initiated the merger of its wholly-owned subsidiary, KEC Spur Infrastructure Private Limited, with KEC International Limited.
Management Commentary
Vimal Kejriwal, Managing Director & CEO, commented on the company’s performance, stating, “We delivered a resilient performance for the quarter, by maintaining revenues, strengthening our order book, reducing debt and building a healthy growth pipeline, despite a challenging operating environment.” He added that while near-term challenges persist, the company remains confident of delivering stronger execution and improved financial performance in the coming quarters, supported by normalizing supply chains and improving labor availability.
Source: BSE
