Q4 2026 KEC International Ltd Earnings Call Transcript
Key Points
- KEC International Ltd (BOM:532714) achieved its highest ever revenues, profitability, and order intake despite challenging geopolitical and labor conditions.
- The company reported a record revenue of INR23,506 crore, reflecting an 8% growth, primarily driven by the T&D and Cables and Conductors business.
- Order intake reached an all-time high of INR25,280 crore, with 70% secured by the T&D business across India and international markets.
- The T&D business delivered a milestone revenue of INR15,883 crore, marking a 24% growth, supported by robust execution in domestic and international markets.
- KEC International Ltd (BOM:532714) has a strong order book and L1 position exceeding INR40,000 crore, providing visibility for the next six to seven quarters.
- Geopolitical tensions in the Middle East have led to supply chain and logistics challenges, impacting project execution and increasing freight costs.
- Labor shortages and fuel-related constraints in India have affected operations, with disruptions expected to continue into Q1 and potentially Q2.
- The company's net debt, including acceptances, stands at INR6,722 crore, with higher inventory levels due to delayed dispatches and strategic inventory buildup.
- Receivable days increased from 88 to 101, with a spillover of collections affecting working capital.
- The ongoing disruptions have resulted in deferred revenues and impacted EBITDA margins, which stood at 7% in Q4.
Ladies and gentlemen, good day, and welcome to KEC International Limited Q4 FY26 Results Conference Call. (Operator Instructions) Please note that this conference is being recorded. On the call, we have with us today Mr. Vimal Kejriwal, Managing Director and CEO; and Mr. Rajeev Agarwal, CFO.
I now hand the conference over to Mr. Vimal Kejriwal for his opening remarks. Thank you, and over to you, sir.
Thank you, Michelle. Good morning, everyone, and welcome to KEC Q4 earnings call. I will begin with an overview of the operating environment, followed by our annual performance and update on each of our business segments.
We have achieved our highest ever revenues, profitability and order intake during the year despite a challenging operating environment marked by geopolitical tensions in the Middle East during Q4, labor shortages and subdued order inflows in India. We successfully executed key strategic initiatives and develop niche
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