KEC Intl Q2 PAT jumps 53% YoY to Rs 85 crore; order book at Rs 42,500 crore

KEC International has reported 53% jump in consolidated net profit to Rs 85 crore on a 14% increase in revenues to Rs 5,113 crore in Q2 FY25 as compared with Q2 FY24.

EBITDA improved by 17% YoY to Rs 320 crore in the second quarter. EBITDA margin for Q2 FY25 was 6.3% as against 6.1% in Q2 FY24.

Profit before tax in Q2 FY25 stood at Rs 113 crore, up by 72% from Rs 66 crore in Q2 FY24.

On a year-to-date (YTD) basis, the companys consolidated order intake was Rs 13,482 crore, up 50% YoY. YTD order book was Rs 34,088 crore, with L-1 orders aggregating to Rs 8,500 crore.

As of 30 September 2024, net debt, including acceptances, stood at Rs 5,265 crore, a decrease of Rs 1,074 crore compared to the previous year.

Furthermore, the company's net working capital (NWC) has improved, declining to 130 days as of 30 September 2024, a three-day reduction from the previous year. Vimal Kejriwal, MD & CEO, KEC International, commented: We are pleased with a solid quarterly performance, marked by robust revenue growth, increase in profitability and a substantial reduction in debt levels.

Despite challenges like ongoing manpower shortages and geopolitical uncertainties, we have maintained consistent revenue growth. Our PBT margins have increased by 70 basis points, to 2.2% in Q2 FY25 from 1.5% in Q2 FY24.

The uptick in order intake has resulted in our order book + L1 being at a record high of over Rs. 42,500 crore.

KEC International 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 scrip shed 0.64% to currently trade at Rs 961.65 on the BSE.

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