KEC International Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

KEC International has secured new orders of Rs. 1,050 crore across various businesses:

Renewables: The business has secured a breakthrough order for a 100+ MW Wind Project - Balance of Plant (BoP) package in Southern India from a renowned private developer.

Civil: The business has secured an order in the Buildings & Factories (B&F) segment from an existing client for the execution of a downstream project in Western India for a leading steel player.

Transmission & Distribution (T&D): The business has secured orders for supply of towers, hardware and poles in the Americas.

Cables & Conductors: The business has secured orders for supply of various types of cables and conductors in India and the overseas markets.

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In the Renewables segment, the company won a breakthrough order for a 100+ MW wind project ? Balance of Plant (BoP) package in Southern India from a renowned private developer.

The Civil business secured an order in the Buildings & Factories (B&F) segment from an existing client for executing a downstream project in Western India for a leading steel player.

In Transmission & Distribution (T&D), the company won orders for the supply of towers, hardware, and poles in the Americas.

The Cables & Conductors business secured orders for supplying various types of cables and conductors in both domestic and international markets.

Vimal Kejriwal, MD & CEO of KEC International, said, ?We are pleased with the new order wins across businesses especially the maiden order in the wind energy segment secured by our renewables business, marking our entry into this fast-growing area of the renewable energy sector. Our civil business continues to strengthen its presence in the B&F segment with a large downstream project from a leading steel player. Our subsidiary, SAE Towers has secured significant tower supply orders in Mexico, reflecting an uptick in the North American T&D market. With these wins, our year-to-date order intake stands at ~Rs 19,300 crore, reaffirming our confidence in achieving our growth targets.?

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 0.05% to Rs 737.85 on the BSE.

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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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