KEC grows by 12% in Q4 and 15% in FY24

08 May 2024 CW Team

KEC International, a global infrastructure EPC major and an RPG Group, announced its results for the fourth quarter (Q4 FY24) and full year (FY24) ended March 31, 2024. Consolidated order intake and order book:

Order Intake: FY24 order intake of Rs. 18,102 crore, T&D and civil businesses are the major contributors.

Order book: Order book as on 31 March 2024 of Rs. 29,644 crore; Additionally, L1 of over Rs 7,000 crore.

Consolidated net debt and net working capital: Net debt including Acceptances stands at Rs 5,090 crore as on March 31, 2024, largely in line with March 31, 2023 despite a revenue increase of over Rs 2,500 crore, a growth of 15% YoY.

Net Working Capital (NWC) stands at 112 days as on March 31, 2024 in line with March 31, 2023.

Dividend: Recommended a dividend of Rs 4 per equity share i.e. 200% of face value of Rs 2 each for FY24.

Vimal Kejriwal, MD & CEO, KEC International, commented, ?We have delivered a good performance for the year by achieving the highest ever Revenues, substantial growth in Profitability, key order wins and significant improvement in working capital. The strong Revenue growth has been delivered by stellar performances in Transmission and Distribution (T&D) and Civil businesses. Our EBITDA margins have shown consistent improvement, with Q4 FY24 clocking a commendable increase of 120 basis points to reach 6.3%, up from 5.1% in the same quarter of the previous year. The bottom line has also seen remarkable growth, with both PBT and PAT doubling over the previous year. With a formidable and diversified order book & L1 of ~Rs. 37,000 Cr, combined with a substantial tender pipeline, we are well positioned to deliver sustained growth in the forthcoming quarters.?

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