KEC International Secures Rs 1,063 Crore Orders, Expands Global T&D Footprint Amid Cash Flow Challenges

August 4, 2026
KEC International Secures Rs 1,063 Crore Orders, Expands Global T&D Footprint Amid Cash Flow Challenges
  • KEC International secured new orders totaling Rs 1,063 crore across transmission & distribution, renewables, civil, and cables and conductors, boosting its diversified order book.

  • An earnings conference call is scheduled for August 11, 2026, where MD & CEO Vimal Kejriwal and CFO Rajeev Aggarwal will discuss Q1FY27 unaudited results for the quarter ended June 30, 2026.

  • KEC’s stock was trading around Rs 474.25 on the day, with a slight intraday decline from the previous close.

  • Shares reached about Rs 479.10 intraday, reflecting subdued trading sentiment on the day.

  • Executives are expected to emphasize execution velocity, margin trajectory, and cash conversion improvements, along with potential changes in working capital or debt management post-Q1 results.

  • The company’s international expansion is underscored by a 400 kV transmission line project in Africa and tower and hardware supplies in the Americas, expanding its T&D footprint.

  • The order mix spans civil works for a 24 lakh square foot high-rise residential project, a 400 kV Africa transmission line, tower and hardware supply in the Americas, a 50+ MW wind EPC project, and various cable and conductor orders globally.

  • FY26 ended with negative operating cash flow of Rs 414.10 crore and a high liabilities-to-equity ratio of 3.08x, signaling working capital and receivables pressures even as backlog grows.

  • Liquidity indicators show a current ratio of 1.23x, highlighting the need for improved working capital management to sustain backlog execution given high leverage and cash flow concerns.

  • Q4FY26 revenue stood at Rs 6,419.80 crore with net profit of Rs 192.80 crore and an operating margin around 7.0%, reflecting steady quarterly performance with no margin erosion.

  • FY26 revenue from operations reached Rs 23,506 crore, up from Rs 21,847 crore in FY25, with an operating profit of Rs 1,869 crore and net profit of Rs 606 crore; Q4 revenue was Rs 6,390 crore and net profit Rs 193 crore.

  • The Rs 1,063 crore order represents roughly 18% of the company’s average quarterly revenue and contributes to a disclosed order book of Rs 9,298 crore across seven orders, with a book-to-bill ratio of 1.58x.

Summary based on 7 sources


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