Q2 2025 KEC International Ltd Earnings Call Transcript
Key Points
- KEC International Ltd (BOM:532714) successfully completed a QIP raising INR870 crores, reflecting strong investor confidence.
- The company achieved a revenue growth of 14% in Q2 and 10% for H1, driven primarily by the T&D segment.
- EBITDA grew by 17% in Q2 and 18% in H1, with margins improving by 20 basis points in Q2.
- Order intake reached a record INR13,500 crores YTD, with a 50% year-on-year growth, primarily from the T&D sector.
- The company reduced its net debt by INR1,074 crores, showing effective debt management despite revenue growth.
- The company faced challenges due to manpower shortages and heavy rainfall affecting project execution in Gujarat and Rajasthan.
- Margins were impacted by delayed payments in water projects, leading to a deliberate slowdown in execution.
- The railway business saw a revenue decline of 35% in Q2, attributed to project completion delays.
- Interest expenses as a percentage of revenue increased, although they were reduced by 70 basis points in Q2.
- The oil and gas pipeline business experienced muted growth due to a slowdown in tendering activities.
Ladies and gentlemen, good day, and welcome to the KEC International Limited Q2 FY25 results conference call. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Vimal Kejriwal. Thank you, and over to you, sir.
Thank you, Sujal, and good morning to all of you. We welcome you all to the Q2 earnings call of KEC. Let me start with an update on the key developments during the quarter, and thereafter, talk on the overall financial performance of the quarter and H1 along with the highlights of the respective businesses.
Firstly, we have successfully completed our QIP raising INR870 crores, which (inaudible) received demand of around 7 times, reflecting strong confidence from the investor community. The QIP attracted a diverse pool of top-tier domestic and foreign institutional investors, reaffirming the market's belief in our robust business model and ability to capitalize on the
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