KEC International Ltd

KEC International Ltd

₹ 686 -1.60%
28 Nov - close price
About

KEC International is a global infrastructure EPC major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables. It is the flagship Company of the RPG Group.[1]

Key Points

Part of RPG Group
The company is part of the RPG Group, one of India’s fastest-growing business conglomerates, with a turnover of US$5.2 billion. The group has diverse business interests spanning infrastructure, tyres, pharmaceuticals, information technology, speciality businesses, and emerging innovation-driven technology ventures. [1]

  • Market Cap 18,255 Cr.
  • Current Price 686
  • High / Low 1,313 / 605
  • Stock P/E 48.5
  • Book Value 194
  • Dividend Yield 0.80 %
  • ROCE 14.6 %
  • ROE 7.00 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 52.6%

Cons

  • Stock is trading at 3.53 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 5.53% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
3,736 3,868 4,961 3,701 3,982 4,398 5,302 3,888 4,484 4,758 6,048 4,030 4,949
3,506 3,688 4,755 3,532 3,798 4,187 5,018 3,715 4,254 4,477 5,696 3,833 4,641
Operating Profit 230 180 206 169 184 211 284 174 230 281 352 197 308
OPM % 6% 5% 4% 5% 5% 5% 5% 4% 5% 6% 6% 5% 6%
-59 3 8 4 17 29 12 44 33 4 28 9 9
Interest 101 123 135 135 155 146 136 137 152 154 139 123 146
Depreciation 31 32 32 33 37 38 39 38 37 37 34 32 36
Profit before tax 39 28 47 5 9 56 121 43 74 93 208 50 135
Tax % 9% 47% 37% 31% 28% 21% 23% 25% 21% 22% 23% 26% 22%
36 15 29 4 7 44 93 32 58 73 161 37 106
EPS in Rs 1.39 0.57 1.14 0.15 0.26 1.71 3.61 1.25 2.18 2.74 6.04 1.38 3.97
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
6,559 6,592 7,690 7,566 9,037 10,118 10,471 11,852 12,573 15,413 17,383 19,178 19,784
6,120 6,204 6,924 6,764 8,043 8,949 9,252 10,527 11,354 14,457 16,407 17,980 18,646
Operating Profit 439 389 767 802 995 1,169 1,218 1,324 1,219 956 976 1,198 1,138
OPM % 7% 6% 10% 11% 11% 12% 12% 11% 10% 6% 6% 6% 6%
65 177 12 22 21 38 13 27 -125 -40 60 104 49
Interest 298 313 322 285 279 366 369 333 359 539 699 739 562
Depreciation 55 70 118 115 95 106 118 122 123 127 146 146 139
Profit before tax 151 182 339 424 641 735 745 897 613 250 192 418 486
Tax % 43% 39% 42% 33% 33% 32% 27% 28% 29% 28% 23% 23%
86 111 195 282 430 498 546 646 434 180 148 324 376
EPS in Rs 3.33 4.31 7.60 10.96 16.73 19.36 21.23 25.13 16.90 7.01 5.74 12.17 14.13
Dividend Payout % 18% 21% 13% 15% 14% 14% 16% 16% 24% 43% 70% 45%
Compounded Sales Growth
10 Years: 11%
5 Years: 13%
3 Years: 15%
TTM: 9%
Compounded Profit Growth
10 Years: 30%
5 Years: -10%
3 Years: -16%
TTM: 65%
Stock Price CAGR
10 Years: 16%
5 Years: 13%
3 Years: 18%
1 Year: -35%
Return on Equity
10 Years: 13%
5 Years: 10%
3 Years: 6%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 51 51 51 51 51 51 51 51 51 51 51 53 53
Reserves 981 1,059 1,331 1,604 1,987 2,443 2,787 3,468 3,804 3,912 4,024 5,044 5,119
1,423 1,542 2,564 1,465 1,334 1,577 2,200 1,785 2,483 2,754 3,281 3,295 4,649
3,575 3,493 4,043 4,569 6,362 7,028 7,082 8,142 8,843 9,295 10,159 11,412 10,626
Total Liabilities 6,031 6,145 7,989 7,690 9,735 11,100 12,120 13,446 15,182 16,013 17,515 19,805 20,447
817 724 757 712 686 728 757 709 767 779 833 647 715
CWIP 9 12 7 4 71 5 9 18 2 8 7 13 10
Investments 6 7 81 122 318 436 616 807 964 1,076 1,159 1,257 1,257
5,199 5,402 7,145 6,851 8,660 9,931 10,739 11,913 13,449 14,149 15,516 17,889 18,466
Total Assets 6,031 6,145 7,989 7,690 9,735 11,100 12,120 13,446 15,182 16,013 17,515 19,805 20,447

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-27 63 -37 1,545 774 171 120 833 104 576 335 245
-22 127 -103 -153 -347 -93 -286 -186 -373 -301 -266 -14
75 -154 36 -1,327 -374 -108 105 -600 293 -309 -95 151
Net Cash Flow 26 36 -105 65 53 -30 -61 48 23 -34 -26 382

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 186 179 208 190 195 171 182 161 137 93 79 80
Inventory Days 36 38 25 27 35 35 46 51 49 45 44 25
Days Payable 306 295 264 301 352 342 367 440 435 462 429 381
Cash Conversion Cycle -85 -78 -30 -84 -122 -136 -139 -228 -249 -323 -306 -276
Working Capital Days 6 4 13 35 41 47 42 92 38 31 22 40
ROCE % 20% 14% 20% 20% 28% 30% 24% 24% 19% 13% 13% 15%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
51.88% 51.88% 51.88% 51.88% 51.88% 51.88% 51.88% 50.10% 50.10% 50.10% 50.10% 50.10%
12.62% 12.60% 11.58% 11.25% 10.90% 12.45% 12.66% 13.60% 15.20% 15.42% 16.02% 15.92%
25.56% 25.79% 26.65% 27.16% 26.95% 25.84% 25.29% 26.33% 24.91% 24.18% 22.55% 22.54%
9.93% 9.73% 9.90% 9.73% 10.28% 9.83% 10.16% 9.97% 9.79% 10.29% 11.32% 11.43%
No. of Shareholders 1,00,15498,14598,6431,03,0191,16,2811,10,6181,25,2271,36,6271,37,8201,59,5401,73,9271,79,525

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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