KEC International Reports Record FY26 Revenue, Profitability and Order Intake

KEC International , a global infrastructure EPC major and an RPG Group Company, announced its financial results for the fourth quarter (Q4 FY26) and full year (FY26) ended March 31, 2026, delivering its highest-ever revenues, order intake, and profitability. The company reported record consolidated revenues of Rs 23,506 crore for FY26, an 8% growth over Rs 21,847 crore in FY25, while operating PAT grew 18% year-on-year to Rs 650 crore. The T&D business was a key driver, with its contribution to revenues increasing significantly to 68% from 59% in the previous year.

Consolidated Financial Performance

The full-year consolidated results reflect broad-based improvement in profitability metrics, even as Q4 FY26 saw some moderation compared to Q4 FY25. The following table presents the consolidated financial highlights:

Metric: Q4 FY26 Q4 FY25 FY26 FY25 Revenue: Rs 6,390 crore Rs 6,872 crore Rs 23,506 crore Rs 21,847 crore EBITDA: Rs 448 crore Rs 539 crore Rs 1,659 crore Rs 1,504 crore EBITDA Margin: 7.03% 7.84% 7.1% 6.9% Interest as % to Revenue: 2.7% 2.5% 2.8% 3.0% Operating PBT: Rs 258 crore Rs 342 crore Rs 848 crore Rs 704 crore Operating PBT Margin: 4.0% 5.0% 3.6% 3.2% Operating PAT: Rs 193 crore Rs 268 crore Rs 650 crore Rs 553 crore Operating PAT Margin: 3.0% 3.9% 2.8% 2.5% PBT (with Exceptional Item): Rs 258 crore Rs 342 crore Rs 789 crore Rs 727 crore PBT Margin (with Exceptional Item): 4.0% 5.0% 3.4% 3.3% PAT (with Exceptional Item): Rs 193 crore Rs 268 crore Rs 606 crore Rs 571 crore PAT Margin (with Exceptional Item): 3.0% 3.9% 2.6% 2.6%

Exceptional items for the consolidated results include a provision of Rs 59 crore made in Q3 FY26 towards the new labour code, and income of Rs 24 crore from an arbitration award recognised in Q1 FY25.

Standalone Financial Performance

On a standalone basis, revenue for FY26 stood at Rs 19,047 crore compared to Rs 19,178 crore in FY25. It is noted that effective January 1, 2025, the Cables business was transferred into a wholly owned subsidiary, KEC Asian Cables Limited, and its financials ceased to be part of standalone numbers. On a like-to-like basis, excluding Cables financials for 9M FY25, standalone revenue growth stands at 6% for FY26.

Metric: Q4 FY26 Q4 FY25 FY26 FY25 Revenue: Rs 5,260 crore Rs 6,048 crore Rs 19,047 crore Rs 19,178 crore EBITDA: Rs 273 crore Rs 352 crore Rs 1,054 crore Rs 1,037 crore EBITDA Margin: 5.2% 5.8% 5.5% 5.4% Interest as % to Revenue: 2.7% 2.3% 2.9% 3.0% Operating PBT: Rs 129 crore Rs 208 crore Rs 418 crore Rs 394 crore Operating PBT Margin: 2.5% 3.4% 2.2% 2.1% PBT (with Exceptional Item): Rs 295 crore Rs 208 crore Rs 531 crore Rs 418 crore PBT Margin (with Exceptional Item): 5.6% 3.4% 2.8% 2.2% PAT (with Exceptional Item): Rs 247 crore Rs 161 crore Rs 428 crore Rs 324 crore PAT Margin (with Exceptional Item): 4.7% 2.7% 2.2% 1.7%

Standalone exceptional items include a provision of Rs 52 crore made in Q3 FY26 towards the new labour code, income of Rs 166 crore towards reversal of impairment of SAE Towers subsidiary in Q4 FY26, and income of Rs 24 crore from an arbitration award recognised in Q1 FY25.

Order Intake, Order Book and Net Debt

KEC International recorded an all-time high consolidated order intake of Rs 25,280 crore in FY26, further bolstered by orders of over Rs 1,000 crore secured in FY27 till date. The order book as on March 31, 2026 stood at Rs 36,267 crore, with the combined order book and L1 position exceeding Rs 40,000 crore.

On the debt and working capital front:

Net Debt including Acceptances stood at Rs 6,722 crore as on March 31, 2026, a reduction of Rs 84 crore compared to December 31, 2025. A spillover of collections of approximately Rs 450 crore was realised in the first week of April 2026.

Net Working Capital (NWC) stood at 137 days as on March 31, 2026, compared to 135 days as on December 31, 2025.

Dividend

The board recommended a dividend of Rs 5.50 per equity share, representing 275% of the face value of Rs 2 per share for FY26.

Management Commentary

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd., stated: "We achieved our highest-ever Revenues, Profitability and Order Intake during the year, despite a challenging operating environment especially in Q4. The record performance was driven by robust execution in our T&D business, with its contribution to revenues increasing significantly to 68% from 59% last year. Profitability also improved considerably, with operating PBT growing by 21% and operating PAT growing by 18% YoY. Our order book has been substantially strengthened through multiple strategic wins, taking the combined order book and L1 position beyond Rs. 40,000 crore. Despite the uncertain operating environment, our robust order book and healthy tender pipeline position us well to deliver sustained growth in the coming quarters."

KEC International Limited's Board of Directors, at its meeting held on Saturday, May 16, 2026, approved an amendment to its Insider Trading Code. The update was made in accordance with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and was formally communicated to the National Stock Exchange of India Limited and BSE Limited.

Amendment to the Insider Trading Code

The amended document, formally titled the Code of Fair Disclosure, Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and Immediate Relatives of Designated Persons, and Legitimate Purpose Policy, constitutes the company's Insider Trading Code. The amendment reflects the company's ongoing commitment to regulatory compliance under the applicable SEBI framework.

Key details of the regulatory disclosure are outlined below:

Parameter: Details Date of Board Meeting: May 16, 2026 Regulation: Regulation 8(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 Document Amended: Insider Trading Code Availability: Investor Section, www.kecrpg.com Signatory: Suraj Eksambekar, Company Secretary and Compliance Officer

Availability of Amended Code

The amended Insider Trading Code has been made available to stakeholders under the Investor Section on the company's official website at www.kecrpg.com . The intimation was signed by Suraj Eksambekar, Company Secretary and Compliance Officer of KEC International Limited, and submitted to both the National Stock Exchange of India Limited and BSE Limited on May 16, 2026.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.