KEC International Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

The agency has also affirmed the company?s short-term rating at ?CARE A1+?.

CARE Ratings stated that the ratings assigned to bank facilities of KEC International (KEC) continues to derive strength from its well-established business profile and experienced management under the RPG Group, one of India?s leading conglomerates with diversified interests across infrastructure, IT, tyres, and energy. The group?s strong reputation, financial flexibility, and market capitalisation provide strength.

The Ratings considers geographically and segmentally diversified order book of Rs 39,325 crore as on 30 September 2025 (1.8x of FY25 revenue), providing adequate revenue visibility for 18?24 months.

KEC reported healthy growth in scale of operations with consolidated revenue of Rs 21,854 crore in FY25 (up 10% YoY), driven by strong execution in T&D and cables. Profitability improved to 7.70% in FY25 (FY24: 6.82%) aided by operational efficiencies and higher margin in T&D and SAE Towers, though overall margins remain moderate due to weaker performance in non-T&D segments, especially in Railways and Civil Segment.

Ratings also take cognisance of augmentation of net worth base with successful completion of qualified institutional placement (QIP) of ₹850 crore in FY25.

However, ratings remain constrained by sustained high working capital intensity, with gross current asset (GCA) days at 330 in FY25, driven by slow recovery of receivables from railways, urban transportation, and water projects.

This has led to high indebtedness and moderate debt coverage indicators. Going forward, rationalisation of GCA days and consequent debt rationalisation remain key rating monitorable.

KEC is part of the RPG group. The company is a global EPC major in power T&D systems. It has also diversified in railway infrastructure, manufacturing cables (for power, telecom, solar and railways), civil construction with a focus on construction of industrial plants, warehouses, residential and commercial complexes, smart infrastructure, and renewable sector (solar) projects.

The company's consolidated net profit jumped 88.21% to Rs 160.75 crore in Q2 FY26, while revenue from operations rose 19.13% to Rs 6,091.56 crore. Its year to date order intake has crossed Rs 17,000 crore, up about 17% from last year.

The scrip shed 0.46% to currently trade at Rs 702.05 on the BSE.

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According to an exchange filing, the company?s India T&D business has bagged its largest-ever order from a reputed private player. The contract includes the execution of a 765 kV transmission line and a 765/400 kV air-insulated substation (AIS) on a lump-sum turnkey (LSTK) basis.

In addition, KEC International?s civil business has secured an order from a prominent private player for additional civil and structural works at a 150 MW thermal power plant.

Vimal Kejriwal, MD & CEO, KEC International, commented, ?We are delighted with these order wins in India, particularly the significant composite order secured by our India T&D business for the evacuation of renewable energy. This order has substantially increased the share of private sector clients in our India T&D order book. The Civil business has increased its presence in the growing thermal power plant segment. With these wins, our YTD order intake has crossed Rs 18,000 crore, reaffirming our confidence in achieving our annual order intake target.?

The company is a global EPC player with operations across power transmission and distribution, civil infrastructure, transportation, renewables, oil and gas pipelines, and cables.

KEC?s consolidated net profit jumped 88.21% to Rs 160.75 crore in Q2 FY26, while revenue from operations rose 19.13% to Rs 6,091.56 crore. Its year to date order intake has crossed Rs 17,000 crore, up about 17% from last year.

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According to an exchange filing, the company?s India T&D business has bagged its largest-ever order from a reputed private player. The contract includes the execution of a 765 kV transmission line and a 765/400 kV air-insulated substation (AIS) on a lump-sum turnkey (LSTK) basis.

In addition, KEC International?s civil business has secured an order from a prominent private player for additional civil and structural works at a 150 MW thermal power plant.

Vimal Kejriwal, MD & CEO, KEC International, commented, ?We are delighted with these order wins in India, particularly the significant composite order secured by our India T&D business for the evacuation of renewable energy. This order has substantially increased the share of private sector clients in our India T&D order book. The civil business has increased its presence in the growing thermal power plant segment. With these wins, our YTD order intake has crossed Rs 18,000 crore, reaffirming our confidence in achieving our annual order intake target.?

The company is a global EPC player with operations across power transmission and distribution, civil infrastructure, transportation, renewables, oil and gas pipelines, and cables.

KEC?s consolidated net profit jumped 88.21% to Rs 160.75 crore in Q2 FY26, while revenue from operations rose 19.13% to Rs 6,091.56 crore. Its year-to-date order intake has crossed Rs 17,000 crore, up about 17% from last year.

The counter rose 1.11% to settle at Rs 691.60 on the BSE.

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KEC International has secured new orders of Rs. 1,150 crore in the T&D and Civil businesses in India:

Transmission & Distribution (T&D): The India T&D business has secured its largest-ever order from a reputed private player for:

• 765 kV transmission line
• 765/400 kV AIS substation on LSTK basis

Civil: The business has secured an order for additional civil and structural works for a 150 MW thermal power plant from a prominent private player.

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