KEC INTERNATIONAL — Powering the Grid, Building the Future!

KEC Every new power line needs engineering. Every growing economy needs electricity. KEC is building the infrastructure that connects them. 🌍 KEC International, part of RPG Group, is a global EPC company operating across power transmission & distribution (T&D), civil infrastructure, railways, renewables, oil & gas pipelines, and cables. 📊 Q2 FY27: Record orders, but earnings under pressure Consolidated revenue: ₹5,468 crore, down 10% YoY EBITDA: ₹271 crore, versus ₹430 crore a year ago EBITDA margin: 5.0%, down from 7.1% Net profit: ₹30 crore, down 81.5% YoY H1 FY27 revenue: ₹10,491 crore Order book: ₹39,946 crore — a record Order book + L1 pipeline: Approximately ₹43,500 crore The order pipeline remains strong, but revenue, margins and profit have declined. The company cited geopolitical and supply-chain disruption, land and right-of-way challenges, and calibrated project supplies. (KEC official results) 🔥 What could drive future growth? ✅ Power transmission expansion: Grid upgrades, renewable integration and rising electricity demand can support long-term T&D opportunities. ✅ Record order visibility: A large order book provides a substantial execution pipeline—provided projects convert into revenue on schedule. ✅ Global reach: KEC operates across 110+ countries, offering access to international infrastructure markets. ✅ Diversified EPC portfolio: Civil, transportation, renewables and cables broaden the business beyond transmission projects. ✅ Management outlook: The company expects improved performance in coming quarters, supported by its order book and tender pipeline. (KEC official results) ⚠️ Risks investors must track Margin pressure: EBITDA margin fell to 5.0%, while interest costs increased as a share of revenue. Debt and working capital: Net debt including acceptances stood at ₹7,793 crore; net working capital was 155 days.