KEC delivers Strong Revenue growth of 13% in Q2 and 20% in H1
Robust YTD Order Intake of Rs. 10,465 crore – Growth of 25%
Highest Ever Order Book + L1 of over Rs. 34,000 crore
Mumbai, November 07, 2022: KEC International Ltd., a global infrastructure EPC major and an RPG Group Company, today announced its results for the second quarter (Q2 FY23) and half year (H1 FY23) ended September 30, 2022
Consolidated Financial Performance:
| Q2 FY23 v/s Q2 FY22 (Excluding Exceptional Item*) | H1 FY23 v/s H1 FY22 (Excluding Exceptional Item*) |
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*In Q2 FY22, there was an exceptional write-off of Rs 44 Cr against a legacy arbitration case in South Africa.
Considering impact of this item, the PBT and PAT are as below:
| Q2 FY23 v/s Q2 FY22 (Including Exceptional Item*) | H1 FY23 v/s H1 FY22 (Including Exceptional Item*) |
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Standalone Financial Performance:
| Q2 FY23 v/s Q2 FY22 (Excluding Exceptional Item*) | H1 FY23 v/s H1 FY22 (Excluding Exceptional Item*) |
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*In Q2 FY23, there is a provision of Rs. 76 Cr towards impairment of subsidiary in SAE Brazil and in Q2 FY22, there was an exceptional write-off of Rs 44 Cr against a legacy arbitration case in South Africa.
Considering impact of these items, the PBT and PAT are as below:
| Q2 FY23 v/s Q2 FY22 (Including Exceptional Item*) | H1 FY23 v/s H1 FY22 (Including Exceptional Item*) |
|---|---|
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Order Intake and Order Book:
Order Intake:
YTD Order intake of Rs. 10,465 crore, a robust growth of ~25% YoY
Order Book:
YTD Order Book of Rs. 27,569 crore including orders released in Q3 FY23 till date, a healthy growth of ~25% YoY; Additionally, L1 of over Rs. 6,500 crore.
Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We have delivered a strong growth in revenues and order intake. The margins continue to be impacted due to the elevated logistics costs, execution of legacy projects with adverse commodity prices and SAE Brazil performance. We have significantly reduced our exposure to legacy projects and have commenced execution of projects which are secured based on current commodity prices and logistics costs. This augurs well for us and gives us confidence of a sequential improvement in the margins in the quarters to come. Based on the traction in order intake, record order book + L1 of over Rs 34,000 crore and a healthy tender pipeline, we are confident of delivering a continued strong growth in the coming quarters.”
About KEC International Limited
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 110+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of the RPG Group.
About RPG Enterprises
RPG Enterprises, established in 1979, is one of India’s fastest growing business groups with a turnover of US$ 4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation led technology businesses