K E C International Ltd

KEC International is primarily engaged in Engineering, Procurement and Construction business (EPC) relating to infrastructure interalia products, projects and systems for power transmission, distribution, railways and related activities.(Source : 201903 Annual Report Page No: 199)

Pros:
Company has good consistent profit growth of 46.98% over 5 years
Cons:
The company has delivered a poor growth of 6.84% over past five years.

Peer Comparison Sector: Capital Goods - Electrical Equipment // Industry: Transmisson Line Towers / Equipment

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
2,074 1,912 2,849 1,857 2,130 2,405 3,662 2,104 2,408 2,647 3,841 2,412
1,889 1,730 2,548 1,680 1,915 2,161 3,292 1,888 2,155 2,365 3,442 2,161
Operating Profit 185 182 301 176 216 244 370 216 253 281 399 251
OPM % 9% 10% 11% 10% 10% 10% 10% 10% 11% 11% 10% 10%
Other Income 6 7 11 10 1 7 8 12 3 5 11 3
Interest 60 58 64 63 53 56 61 65 77 86 85 80
Depreciation 31 30 41 27 28 27 27 30 30 31 26 37
Profit before tax 100 101 208 96 136 168 290 134 149 170 300 138
Tax % 35% 38% 30% 34% 34% 34% 32% 35% 34% 34% 34% 36%
Net Profit 65 63 146 63 89 112 196 87 98 112 199 89
EPS in Rs 2.53 2.43 5.66 2.45 3.47 4.35 7.64 3.38 3.81 4.37 7.73 3.45
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
3,429 3,907 4,477 5,815 6,979 7,902 8,468 8,518 8,584 10,053 11,001 11,309
3,071 3,439 3,955 5,293 6,533 7,342 7,889 7,736 7,674 8,958 9,764 10,124
Operating Profit 357 469 522 522 447 560 579 781 911 1,095 1,236 1,185
OPM % 10% 12% 12% 9% 6% 7% 7% 9% 11% 11% 11% 10%
Other Income 2 8 -2 62 16 -1 146 10 14 22 32 22
Interest 158 157 163 211 260 333 376 368 332 318 398 327
Depreciation 23 27 41 48 56 71 88 132 130 110 117 124
Profit before tax 179 293 317 324 147 155 261 291 463 689 753 757
Tax % 35% 35% 35% 35% 56% 57% 38% 49% 34% 33% 34%
Net Profit 117 190 206 209 65 67 161 148 305 460 496 498
EPS in Rs 4.57 7.48 7.80 7.95 2.44 2.49 6.10 5.75 11.85 17.91 19.28 19.36
Dividend Payout % 21% 16% 15% 15% 20% 23% 14% 17% 14% 13% 14%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.36%
5 Years:6.84%
3 Years:8.90%
TTM:9.77%
Compounded Profit Growth
10 Years:15.55%
5 Years:46.98%
3 Years:50.01%
TTM:2.74%
Return on Equity
10 Years:17.03%
5 Years:18.43%
3 Years:23.33%
Last Year:22.36%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
49 51 51 51 51 51 51 51 51 51 51
Reserves 509 736 895 1,056 1,096 1,140 1,278 1,239 1,535 1,946 2,384
Borrowings 622 787 1,420 1,239 1,669 2,130 2,214 3,221 2,106 1,766 1,839
1,940 1,856 2,497 3,246 3,464 4,124 4,239 4,446 5,095 6,835 7,460
Total Liabilities 3,120 3,428 4,863 5,593 6,281 7,446 7,783 8,958 8,787 10,599 11,735
507 679 1,083 1,131 1,321 1,352 1,259 1,198 1,149 1,112 1,182
CWIP 54 41 28 112 30 18 16 8 5 78 7
Investments 0 0 0 0 0 0 0 25 130 39 13
2,558 2,708 3,753 4,350 4,930 6,076 6,507 7,726 7,502 9,369 10,532
Total Assets 3,120 3,428 4,863 5,593 6,281 7,446 7,783 8,958 8,787 10,599 11,735

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
377 35 170 549 -87 -9 153 -75 1,662 660 199
-136 -38 -475 -40 -122 -136 125 -7 -182 -4 -67
-169 -68 396 -460 161 132 -216 -28 -1,379 -638 -150
Net Cash Flow 72 -71 90 49 -48 -14 62 -110 101 17 -18

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 33% 25% 21% 16% 16% 15% 16% 20% 27% 29%
Debtor Days 199 183 177 157 151 176 166 200 179 183 162
Inventory Turnover 16.43 15.29 14.99 16.70 17.54 17.25 20.36 22.75 19.67 17.35

Credit Ratings