Mumbai, January 31, 2023:KEC International Ltd., a global infrastructure EPC major and an RPG Group Company, today announced its results for the third quarter (Q3 FY23) and nine months ended (9M FY23) ended December 31, 2022
| Q3 FY23 v/s Q3 FY22 | 9M FY23 v/s 9M FY22 (Excluding Exceptional Item*) |
|---|---|
|
|
*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:
| Q3 FY23 v/s Q3 FY22 | 9M FY23 v/s 9M FY22 (Including Exceptional Item*) |
|---|---|
|
|
| Q3 FY23 v/s Q3 FY22 | 9M FY23 v/s 9M FY22 (Excluding Exceptional Item*) |
|---|---|
|
|
*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:
| Q3 FY23 v/s Q3 FY22 | 9M FY23 v/s 9M FY22 (Including Exceptional Item*) |
|---|---|
|
|
Order Intake:
YTD Order intake of Rs. 15,554 crore, a growth of ~10% YoY
Order Book:
YTD Order Book of Rs. 28,981 crore including orders released in Q4 FY23 till date, a healthy growth of ~19% YoY;
Additionally, L1 of ~Rs. 6,000 crore
Net Working Capital (NWC) stands at 139 days as on 31st Dec’22 – Reduction of 9 days vis-à-vis 30th Sep’22 and reduction of 2 days vis-à-vis 31st Dec’21.
Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We have delivered a robust growth in revenues. The growth is backed by good performances in T&D, Civil and Oil & Gas businesses. While our EBITDA margins have shown a sequential improvement, they have been impacted primarily due to execution of legacy projects with adverse commodity prices and performance of SAE Brazil. With the closure of last EPC project in Brazil, we are confident of a gradual revival in the performance of SAE in the quarters to come. We continue to witness a good traction in order intake. With the new orders announced yesterday, our order book along with current L1 pipeline stands at a record level of over Rs. 35,000 crore. Most of these orders have been secured at current commodity prices and logistics costs. Our robust and well diversified order book gives us confidence of concluding the year with a healthy growth.”
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.
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.
KEC delivers Robust Revenue growth of 31% YoY in Q3 FY23 and 24% YoY in 9M FY23
YTD Order Intake of over Rs. 15,500 crore – Growth of 10% YoY
Highest Ever Order Book + L1 of over Rs. 35,000 crore
