KEC International LimitedQ1 FY27 Results & Financial Update
KEC International Limited: Q1 FY27 consolidated results and company financials – revenue ₹5,024.00 Cr, PAT ₹73.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
KEC International price & chart
Market priceLoading…
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore KEC International Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
KEC International delivered a resilient top-line performance for the first quarter of fiscal 2027, maintaining consolidated revenues at Rs. 5,024 crore compared to Rs. 5,023 crore in the corresponding period of the previous year.
Profitability faced headwinds during the quarter, with consolidated EBITDA declining to Rs. 291 crore from Rs. 350 crore, resulting in an EBITDA margin compression from 7.0% to 5.8%.
Profit Before Tax (PBT) contracted to Rs. 90 crore against Rs. 159 crore in Q1 FY26, while Profit After Tax (PAT) settled at Rs. 73 crore compared to Rs. 125 crore a year ago.
Management attributed the earnings pressure to external headwinds, specifically noting continued geopolitical disruptions in the Middle East, ongoing labour shortages, and calibrated execution of water projects due to delayed payments.
Despite margin and profitability pressures, the company successfully reduced its net debt (including acceptances) by over Rs. 150 crore, bringing total net debt down to Rs. 6,568 crore as of June 30, 2026, compared to March 31, 2026.
Net Working Capital (NWC) days improved further, compressing to 134 days at the end of Q1 FY27 from 137 days at the close of FY26.
Bolstered by an aggregate order book and L1 position exceeding Rs. 40,000 crore and a robust tender pipeline surpassing Rs. 2 lakh crore, management expressed confidence in stronger execution and operational recovery in upcoming quarters.
01 · Business model
What does KEC International do?
KEC International Limited operates as a global infrastructure Engineering, Procurement, and Construction (EPC) major and serves as the flagship infrastructure company of the RPG Group.
The company's primary business activities span multiple core verticals including Power Transmission and Distribution (T&D), Railways, Civil and Urban Infrastructure, Renewables, Oil and Gas Pipelines, and Cables.
KEC maintains a worldwide footprint spanning over 110 countries, encompassing turnkey EPC solutions, design engineering, tower testing, and specialized manufacturing capabilities.
Supported by extensive manufacturing infrastructure—including a global lattice tower production capacity of 483,800 MTPA—the company delivers integrated projects across domestic and international markets.
02 · Historical context
What shaped the business before this quarter
KEC International operates as the flagship infrastructure arm of RPG Enterprises, a multi-business Indian group established in 1979.
Over its seven decades of operating history, the company has expanded its turnkey EPC and manufacturing footprint to more than 110 countries worldwide.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹5,024.00 Cr |
| EBITDA | ₹291.00 Cr |
| Profit before tax | ₹90.00 Cr |
| Profit after tax | ₹73.00 Cr |
| EBITDA margin | 5.79% |
Financial interpretation
What the reported numbers mean
Profit after tax represented 1.5% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 1.8% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue remained flat at Rs. 5,024 crore for Q1 FY27, reflecting resilient project execution across core segments despite regional headwinds.
Standalone revenue for the quarter was recorded at Rs. 3,898 crore, compared to Rs. 4,030 crore in the corresponding quarter of the previous year.
What drove margins
Consolidated EBITDA margin contracted to 5.8% in Q1 FY27 from 7.0% in Q1 FY26, driven by project-level execution hurdles and cost pressures.
Finance cost represented 3.3% of consolidated revenue during the quarter, compared to 3.0% in Q1 FY26.
Consolidated PBT margin stood at 1.8% (against 3.2% previously) and PAT margin settled at 1.4% (against 2.5% previously).
05 · Demand, customers & order book
Where demand is coming from
The company secured year-to-date order intake of Rs. 6,303 crore across its core business segments.
Total current order book and L1 (Lowest Bidder) position stood robust at over Rs. 40,000 crore as of June 30, 2026.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Order intake during the period spanned across Power T&D, Civil, Renewables, Cables and Conductors, and Transportation verticals.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company continues to pursue integrated turnkey EPC solutions across power transmission, railways, civil infrastructure, renewables, and oil and gas pipelines.
08 · Reported developments
What changed operationally
Achieved a sequential reduction of over Rs. 150 crore in net debt including acceptances during the quarter.
Succeeded in lowering net working capital days to 134 days from 137 days at the end of the previous fiscal year.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net Working Capital (NWC) improved further to 134 days as of June 30, 2026, compared to 137 days as of March 31, 2026.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Tender Pipeline
The company highlighted a robust domestic and international tender pipeline exceeding Rs. 2 lakh crore.
11 · Key Q&A
The quarter, answered directly
What does KEC International do?
KEC International Limited operates as a global infrastructure Engineering, Procurement, and Construction (EPC) major and serves as the flagship infrastructure company of the RPG Group.
What is the clearest takeaway from Q1 FY27?
KEC International delivered a resilient top-line performance for the first quarter of fiscal 2027, maintaining consolidated revenues at Rs. 5,024 crore compared to Rs. 5,023 crore in the corresponding period of the previous year.
What drove revenue or demand?
Consolidated revenue remained flat at Rs. 5,024 crore for Q1 FY27, reflecting resilient project execution across core segments despite regional headwinds.
What mattered most for margins or profitability?
Consolidated EBITDA margin contracted to 5.8% in Q1 FY27 from 7.0% in Q1 FY26, driven by project-level execution hurdles and cost pressures.
What changed operationally beyond the headline numbers?
The company continues to pursue integrated turnkey EPC solutions across power transmission, railways, civil infrastructure, renewables, and oil and gas pipelines.
What should the next disclosure help confirm?
Monitor the pace of revenue conversion from the Rs. 40,000+ crore order book and L1 backlog in subsequent quarters.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario operating profit₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Execution Catch-Up: Monitor the pace of revenue conversion from the Rs. 40,000+ crore order book and L1 backlog in subsequent quarters.
- 02
Margin Recovery: Track EBITDA margin trajectory as supply chains normalize and labour constraints ease.
- 03
Debt Trajectory: Observe further progress in net debt and working capital day reductions.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.