KEC International Reports 7 Percent YoY Revenue Growth to INR 5,349 Crore in Q3 FY25

KEC International Ltd., an infrastructure EPC company and part of the RPG Group, has announced strong financial results for the third quarter (Q3 FY25) and nine months (9M FY25) ending December 31, 2024.

For Q3 FY25, KEC International achieved a 34 percent year-on-year (YoY) growth in Profit After Tax (PAT), which reached INR 130 crore, compared to INR 97 crore in Q3 FY24. For the nine-month period, PAT surged by 55 percent YoY, reaching INR 303 crore, compared to INR 195 crore in the same period the previous year. This robust profitability performance was supported by a 7 percent YoY increase in revenue for Q3, amounting to INR 5,349 crore, up from INR 5,007 crore in Q3 FY24. For the nine months, the revenue growth was 9 percent, totalling INR 14,975 crore compared to INR 13,749 crore for 9M FY24.

KEC International's EBITDA also saw impressive growth. The company reported a 21 percent YoY increase in EBITDA for Q3 FY25, reaching INR 374 crore, compared to INR 308 crore in Q3 FY24. For the nine months, EBITDA grew by 19 percent YoY, reaching INR 989 crore, up from INR 827 crore in 9M FY24. The company’s EBITDA margin improved by 80 basis points in Q3 FY25, rising to 7.0 percent, compared to 6.2 percent in Q3 FY24. Similarly, the EBITDA margin for the nine-month period improved to 6.6 percent, up from 6.0 percent in 9M FY24.

The company’s interest expense as a percentage of revenue improved slightly, decreasing to 3.2 percent for Q3 FY25 compared to 3.3 percent in Q3 FY24. For the nine months, the interest expense as a percentage of revenue stood at 3.3 percent, down from 3.6 percent in the previous year’s period.

On a standalone basis, KEC International reported revenue of INR 4,758 crore for Q3 FY25, up from INR 4,398 crore in Q3 FY24, reflecting an 8 percent YoY growth. The standalone PAT for Q3 FY25 stood at INR 73 crore, marking a 66 percent YoY increase from INR 44 crore in Q3 FY24. The standalone EBITDA for Q3 FY25 rose by 33 percent YoY to INR 281 crore, compared to INR 211 crore in Q3 FY24, with an EBITDA margin of 5.9 percent, up from 4.8 percent in the same quarter last year.

For the nine months ended December 31, 2024, standalone revenue grew by 9 percent YoY to INR 13,130 crore, compared to INR 12,082 crore in the same period the previous year. The standalone EBITDA for the nine months increased by 26 percent YoY to INR 709 crore, up from INR 564 crore in 9M FY24, with an EBITDA margin of 5.4 percent, up from 4.7 percent in 9M FY24. Standalone PAT for 9M FY25 stood at INR 163 crore, a 196 percent YoY increase compared to INR 55 crore for the same period last year.

In terms of order intake, KEC International delivered stellar performance, with a year-to-date (YTD) order intake of over INR 22,000 crore, representing a substantial growth of more than 70 percent YoY. The company’s total order book, including L1 (lowest bid), stood at over INR 41,000 crore, ensuring a robust pipeline for future growth. As of December 31, 2024, the consolidated order book was valued at INR 37,440 crore, with L1 orders exceeding INR 4,000 crore.

Commenting on the results, Vimal Kejriwal, Managing Director and CEO of KEC International, said, “We have delivered a strong performance for the quarter, reflected in significant growth in profitability, a record order intake, and a robust order book. Despite challenges, we achieved growth in our revenues and improved our EBITDA margins by 80 basis points. With a diversified order book of over INR 41,000 crore, improved execution visibility, a favourable cost environment, and a strong tender pipeline, we are well-positioned to sustain growth in the coming quarters."