Earnings Review
KEC Intl Q1 PAT sharply dn on higher expenses; revenue unch
This story was originally published at 21:21 IST on 10 August 2026
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--KEC Intl Apr-Jun consol net profit INR 726.2 mln
--Analysts saw KEC Intl Apr-Jun consol net profit at INR 1.03 bln
--KEC Intl Apr-Jun consol revenue INR 50.24 bln
--Analysts saw KEC Intl Apr-Jun consol revenue at INR 51.29 bln
--KEC Intl Apr-Jun consol net profit INR 726.2 mln vs INR 1.25 bln year ago
--KEC Intl Apr-Jun consol revenue INR 50.24 bln vs INR 50.23 bln year ago
--KEC Intl Apr-Jun consol EBITDA INR 2.91 bln vs INR 3.50 bln year ago
--KEC Intl Apr-Jun consol EBITDA margin 5.8% vs 7.0% year ago
--KEC Intl order bood stands at INR 400 bln
--KEC Intl: Has tender pipeline of over INR 2 tln
--KEC Intl order intake INR 63.03 bln as on Jun 30
By Utthara E. S.
MUMBAI – KEC International Ltd. Monday reported a sharp fall in its consolidated net profit for the June quarter even as revenue from operations remained almost unchanged from the year-ago quarter as expenses rose. Both net profit and revenue from operations missed the Street's estimates.
The company's consolidated net profit for the June quarter fell nearly 42% on year to INR 726.2 million, lower than INR 1.25 million in the year-ago quarter and missing analysts' expectation of INR 1.03 billion. Sequentially, the net profit was down 62%. The company's consolidated revenue from operations for the quarter was almost unchanged on year at INR 50.24 billion, missing the Street's estimate of INR 51.29 billion. Sequentially, revenue from operations was down 21%. The company's revenue from operations in the year-ago quarter was INR 50.23 billion.
The company's total expenses for the June quarter rose nearly 2% on year to INR 49.48 billion. The company's cost of materials consumed fell nearly 9% on year to INR 22.48 billion in the quarter. Erection and sub-contracting expense of the company rose nearly 6% on year to INR 17.26 billion. Other expenses rose nearly 20% on year to INR 4.83 billion and the employee benefits expense rose 10% on year to INR 4.31 billion.
The company paid INR 173 million as tax for the June quarter, down 49% on year.
The company's performance was impacted by the war in West Asia, shortage of labour and slower execution in water projects.
KEC International reported a consolidated earnings before interest, tax, depreciation, and amortisation for the June quarter of INR 2.91 billion down from INR 3.50 billion in the year-ago quarter. The company's EBITDA margin was 5.8% for the June quarter, a contraction from 7.0% in the year-ago quarter. The company reported its net profit margin for the June quarter at 1.4%, down from 2.5% in the year-ago quarter.
KEC International's standalone EBITDA was reported at INR 1.56 billion, down from INR 1.97 billion in the year-ago quarter. The standalone EBITDA margin came in at 4.0%, down from 4.9% in the year-ago quarter.
The company's order book stands at INR 400 billion for the June quarter. The company's order intake year-to-date for the June quarter was reported at over INR 63.03 billion across transmission and distribution, civil, renewable, cables and conductors, and transportation businesses. The company reported a tender pipeline of INR 2 trillion equally distributed between the businesses.
The company's net working capital has been reduced to 134 days as on Jun. 30 from 137 days as on Mar. 31. The company reported that net debt, including acceptances, has also been reduced to INR 65.68 billion in the June quarter. The debt repayment could have been better if not for the delay in realisation of significant orders from Afghanistan and higher strategic inventory levels due to ongoing disruptions due to war in West Asia. It expects these realisations from Afganistan to come through in the September quarter.
The company's transmission and distribution business reported a revenue of INR 32.17 billion for the June quarter and an order intake of INR 36.00 billion across India, West Asia, Africa, and America. The civil business reported a revenue of INR 9.93 billion, the cables and conductors business a revenue of INR 6.01 billion, and the transportation business a revenue of INR 2.59 billion for the June quarter. The company's renewables business secured new orders in the June quarter worth INR 8.00 billion across wind and solar segments.
The company expects a gradual recovery in private capital expenditure, especially in metals and mining. Shares of KEC International ended marginally down at INR 475.85 on the National Stock Exchange. The company's June quarter earnings were detailed after market hours. End
Edited by Deepshikha Bhardwaj
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