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Informist, Monday, May 18, 2026

 

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--KEC Intl Jan-Mar consol net profit INR 1.93 bln 
--Analysts saw KEC Intl Jan-Mar consol net profit INR 2.42 bln 
--KEC Intl Jan-Mar consol revenue INR 63.90 bln 
--Analysts saw KEC Intl Jan-Mar consol revenue INR 71.99 bln 
--KEC Intl Jan-Mar consol net profit INR 1.93 bln vs INR 2.68 bln year ago 
--KEC Intl Jan-Mar consol revenue INR 63.90 bln vs INR 68.72 bln year ago 
--KEC Intl to pay INR 5.50 per share dividend 
--KEC Intl FY26 consol net profit INR 6.06 bln vs INR 5.71 bln year ago 
--KEC Intl FY26 consol revenue INR 235.06 bln vs INR 218.47 bln year ago 

 

By Arya S. Biju

 

MUMBAI – KEC International Ltd. reported weaker than expected earnings for the March quarter, with both the top line and bottom line missing the Street's view by a wide margin. A slower fall in total expenses compared to total sales weighed on the company's bottom line for the quarter. Meanwhile, modest growth in sales from its largest segment, transmission and distribution, and a double-digit fall in sales from non-transmission and distribution businesses dragged down the company's consolidated revenue for the quarter. 

 

The company's consolidated net profit for the March quarter fell over 28% on year to INR 1.93 billion, marking the sharpest on-year fall in 12 quarters. The net profit was also sharply below the INR 2.42 billion estimated by the Street. Sequentially, the company's bottom line rose over 51%, marking the sharpest rise in 2025-26 (Apr-Mar). 

 

The company's consolidated revenue for the quarter fell 7% on year to INR 63.90 billion, way below the INR 71.99 billion estimated by the Street. The company's top line fell for the first time in four years. On a sequential basis, the company's revenue grew more than 6%.

 

Sales from the company's transmission and distribution business, on a consolidated basis, grew 4% on year to INR 44.85 billion. The segment contributed 70% of the company's total sales in the March quarter. Consolidated revenue from its non-transmission and distribution business fell 24% on year to INR 21.92 billion. 

 

The company's total expenses for the quarter fell nearly 6% on year to INR 61.62 billion. This was mainly on account of an over 10% on-year fall in raw material cost at INR 31.10 billion. The company's second-biggest expense, erection and sub-contracting costs, grew nearly 6% on year to INR 19.87 billion. 

 

The infrastructure engineering, procurement and construction major's consolidated earnings before interest, tax, depreciation, and amortisation for the March quarter fell 17% on year to INR 4.48 billion. Its consolidated EBITDA margin for the quarter declined 80 basis points on year to 7%.

 

As of Mar. 31, its order book was INR 362.67 billion, 52% of which was from domestic business and the remaining from international business. In FY26, the company had an order intake of INR 252.80 billion. So far in FY27, the company had secured orders worth over INR 10 billion, the company said in a post-earnings press release. "Despite the uncertain operating environment, our robust order book and healthy tender pipeline position us well to deliver sustained growth in the coming quarters," Managing Director and Chief Executive Officer Vimal Kejriwal said in the press release. 

 

The company's net debt, including acceptances, was INR 67.22 billion as of Mar. 31, down INR 840 million compared to the net debt at the end of the trailing quarter. It expects debt levels to improve by the September quarter.

 

For FY26, the company reported a consolidated net profit of INR 6.06 billion, up over 6% on year. Its consolidated revenue for the full year grew 7.6% on year to INR 235.06 billion.

 

Along with the March quarter earnings, the company also announced dividend of INR 5.50 per share for FY26. In a separate filing, the company said its board has approved the merger its wholly-owned subsidiary, KEC Spur Infrastructure Pvt. Ltd. with the company. This is expected to lead to operational synergies and strengthen the company's consolidated business framework, KEC International said. 

 

The company announced its March quarter earnings on Saturday. On Friday, shares of the company closed over 1% lower at INR 548.55 on the National Stock Exchange.  End 

 

Edited by Avishek Dutta

 

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