KEC International Ltd
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]
- Market Cap ₹ 16,024 Cr.
- Current Price ₹ 602
- High / Low ₹ 947 / 600
- Stock P/E 22.0
- Book Value ₹ 212
- Dividend Yield 0.91 %
- ROCE 18.0 %
- ROE 12.0 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 33.0%
Cons
- Company has a low return on equity of 8.82% 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.
Peer comparison
Industrials Construction Construction Civil Construction
Part of BSE 500 Nifty 500 Nifty Smallcap 100 BSE India Infrastructure Index BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,902 | 8,468 | 8,518 | 8,584 | 10,053 | 11,001 | 11,965 | 13,114 | 13,742 | 17,282 | 19,914 | 21,847 | 23,988 | |
| 7,339 | 7,889 | 7,733 | 7,673 | 8,957 | 9,764 | 10,635 | 11,874 | 12,742 | 16,362 | 18,556 | 20,164 | 22,239 | |
| Operating Profit | 563 | 579 | 785 | 911 | 1,095 | 1,237 | 1,330 | 1,240 | 1,001 | 920 | 1,359 | 1,683 | 1,749 |
| OPM % | 7% | 7% | 9% | 11% | 11% | 11% | 11% | 9% | 7% | 5% | 7% | 8% | 7% |
| -4 | 146 | 6 | 14 | 22 | 31 | 11 | 29 | -31 | 59 | 50 | 68 | -18 | |
| Interest | 333 | 376 | 368 | 332 | 318 | 398 | 403 | 360 | 413 | 656 | 797 | 839 | 664 |
| Depreciation | 71 | 88 | 132 | 130 | 110 | 117 | 147 | 153 | 158 | 161 | 185 | 184 | 193 |
| Profit before tax | 155 | 261 | 291 | 463 | 689 | 753 | 790 | 756 | 399 | 161 | 426 | 727 | 874 |
| Tax % | 57% | 38% | 49% | 34% | 33% | 34% | 28% | 27% | 17% | -9% | 19% | 22% | |
| 67 | 161 | 148 | 305 | 460 | 496 | 566 | 553 | 332 | 176 | 347 | 571 | 681 | |
| EPS in Rs | 2.60 | 6.26 | 5.75 | 11.86 | 17.91 | 19.28 | 22.00 | 21.50 | 12.92 | 6.85 | 13.49 | 21.44 | 25.59 |
| Dividend Payout % | 23% | 14% | 17% | 14% | 13% | 14% | 15% | 19% | 31% | 44% | 30% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 13% |
| 3 Years: | 17% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 0% |
| 3 Years: | 17% |
| TTM: | 60% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 7% |
| 3 Years: | 8% |
| 1 Year: | -19% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 11% |
| 3 Years: | 9% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 1,140 | 1,278 | 1,239 | 1,535 | 1,946 | 2,384 | 2,746 | 3,308 | 3,569 | 3,720 | 4,044 | 5,294 | 5,590 |
| 2,130 | 2,214 | 3,221 | 2,106 | 1,766 | 1,839 | 2,519 | 2,066 | 3,065 | 3,383 | 3,961 | 3,957 | 5,308 | |
| 4,069 | 4,183 | 4,362 | 5,023 | 6,749 | 7,389 | 7,538 | 8,566 | 9,613 | 10,117 | 10,975 | 12,859 | 12,662 | |
| Total Liabilities | 7,390 | 7,727 | 8,874 | 8,715 | 10,512 | 11,663 | 12,855 | 13,992 | 16,298 | 17,271 | 19,031 | 22,164 | 23,613 |
| 1,352 | 1,259 | 1,198 | 1,149 | 1,112 | 1,182 | 1,352 | 1,398 | 1,538 | 1,583 | 1,628 | 1,647 | 1,752 | |
| CWIP | 18 | 16 | 8 | 5 | 78 | 7 | 84 | 18 | 2 | 11 | 14 | 39 | 55 |
| Investments | 0 | 0 | 25 | 130 | 39 | 13 | 22 | 1 | 13 | 0 | 0 | 0 | 0 |
| 6,020 | 6,452 | 7,643 | 7,431 | 9,283 | 10,460 | 11,396 | 12,575 | 14,745 | 15,677 | 17,389 | 20,479 | 21,806 | |
| Total Assets | 7,390 | 7,727 | 8,874 | 8,715 | 10,512 | 11,663 | 12,855 | 13,992 | 16,298 | 17,271 | 19,031 | 22,164 | 23,613 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -9 | 153 | -75 | 1,662 | 660 | 199 | 87 | 840 | -284 | 614 | 311 | 419 | |
| -136 | 125 | -7 | -182 | -4 | -67 | -113 | -134 | -204 | -139 | -243 | -46 | |
| 132 | -216 | -28 | -1,379 | -638 | -150 | 3 | -659 | 496 | -401 | -145 | -32 | |
| Net Cash Flow | -14 | 62 | -110 | 101 | 17 | -18 | -23 | 47 | 8 | 74 | -76 | 341 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 176 | 166 | 200 | 179 | 183 | 162 | 166 | 150 | 136 | 90 | 76 | 84 |
| Inventory Days | 45 | 38 | 32 | 35 | 45 | 43 | 51 | 54 | 65 | 59 | 53 | 41 |
| Days Payable | 286 | 266 | 248 | 278 | 331 | 324 | 327 | 395 | 420 | 433 | 401 | 380 |
| Cash Conversion Cycle | -65 | -62 | -17 | -64 | -103 | -119 | -111 | -191 | -219 | -284 | -272 | -255 |
| Working Capital Days | 1 | 7 | 8 | 21 | 33 | 43 | 34 | 37 | 35 | 27 | 25 | 42 |
| ROCE % | 16% | 15% | 16% | 20% | 27% | 29% | 25% | 21% | 14% | 12% | 16% | 18% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 Feb - Read with Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015, the details of the Analyst/Institutional Investors meet to be …
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
3 Feb - Secured new orders totalling Rs.1,020 crore across Civil, Transportation, T&D, Cables; YTD intake ~Rs20,300 Cr
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
2 Feb - The Transcript of the Conference Call held on Friday, January 30, 2026, for the Unaudited Financial Results of the Company for the quarter and nine …
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
31 Jan - Copies of newspaper advertisements published regarding Unaudited Financial Results of the Company for the quarter and nine months ended December 31, 2025.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 Jan - Q3 FY26 earnings call audio (Jan 30, 2026) posted for quarter and nine months ended Dec 31, 2025.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
Concalls
-
Jan 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT
-
Jun 2025Transcript PPT
-
May 2025TranscriptAI SummaryPPT
-
Feb 2025Transcript PPT REC
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT REC
-
Jun 2024Transcript PPT REC
-
May 2024TranscriptAI SummaryPPT
-
May 2024TranscriptAI SummaryPPT
-
Feb 2024Transcript PPT REC
-
Jan 2024TranscriptAI SummaryPPT
-
Nov 2023Transcript PPT
-
Nov 2023TranscriptAI SummaryPPT
-
Aug 2023Transcript PPT
-
Jun 2023TranscriptAI SummaryPPT
-
May 2023Transcript PPT REC
-
May 2023TranscriptAI SummaryPPT
-
Feb 2023Transcript PPT REC
-
Jan 2023TranscriptAI SummaryPPT
-
Nov 2022Transcript PPT REC
-
Nov 2022TranscriptAI SummaryPPT
-
Sep 2022TranscriptAI SummaryPPT
-
Aug 2022Transcript PPT REC
-
Aug 2022TranscriptAI SummaryPPT
-
May 2022Transcript PPT
-
May 2022TranscriptAI SummaryPPT
-
Feb 2022Transcript PPT
-
Jan 2022TranscriptAI SummaryPPT
-
Oct 2021Transcript PPT
-
Oct 2021TranscriptAI SummaryPPT
-
Sep 2021TranscriptAI SummaryPPT
-
Aug 2021Transcript PPT
-
Jul 2021TranscriptAI SummaryPPT
-
Jun 2021Transcript PPT
-
May 2021TranscriptAI SummaryPPT
-
May 2021TranscriptAI SummaryPPT
-
Jan 2021Transcript PPT
-
Nov 2020Transcript PPT
-
Nov 2020TranscriptAI SummaryPPT
-
Aug 2020TranscriptAI SummaryPPT
-
Aug 2020Transcript PPT
-
May 2020TranscriptAI SummaryPPT
-
May 2020TranscriptAI SummaryPPT
-
May 2020Transcript PPT
-
Feb 2020Transcript PPT
-
Nov 2019Transcript PPT
-
Nov 2019TranscriptAI SummaryPPT
-
Aug 2019Transcript PPT
-
May 2019Transcript PPT
-
Jan 2019Transcript PPT
-
Nov 2018Transcript PPT
-
Aug 2018Transcript PPT
-
Jun 2018TranscriptAI SummaryPPT
-
May 2018Transcript PPT
-
Feb 2018Transcript PPT
-
Nov 2017Transcript PPT
-
Aug 2017Transcript PPT
-
Jun 2017TranscriptAI SummaryPPT
-
May 2017Transcript PPT
-
Jan 2017TranscriptAI SummaryPPT
-
Nov 2016TranscriptAI SummaryPPT
-
Aug 2016Transcript PPT
-
Jun 2016TranscriptAI SummaryPPT
-
May 2016TranscriptPPT
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]