KEC International reports impressive growth in Q3 FY24: Revenue and profit soar
KEC International Ltd., a leading global infrastructure EPC major and a flagship company of the RPG Group, has announced its financial results for the third quarter (Q3 FY24) and the nine months (9M FY24) ending December 31, 2023. Demonstrating remarkable resilience and strategic prowess, the company has reported substantial growth in revenue, profitability, and a record-high order book, underscoring its robust position in the infrastructure sector.
The company’s consolidated financial performance highlights a 14% revenue increase in Q3 and a 17% uplift in the 9-month period compared to the previous year. EBITDA surged by 54% in Q3 and 51% in 9M, with EBITDA margins expanding significantly by 160 basis points to 6.2% in Q3. Profit After Tax (PAT) witnessed a phenomenal growth, multiplying approximately six times in Q3 and doubling over the 9-month period.
KEC International’s year-to-date (YTD) order book, including L1 bids, stands at an unprecedented level of over Rs. 38,000 crore, fueled by significant contributions from the Transmission and Distribution (T&D) and Civil businesses. This remarkable achievement is supported by a strategic focus on operational efficiency and cost optimization, reflected in the reduction of Net Debt by approximately Rs. 300 Cr and an improvement in Net Working Capital days.
KEC International Sees Significant Uptick in Revenue and EBITDA Margins in Q3 FY24
Vimal Kejriwal, MD & CEO of KEC International Ltd., expressed his satisfaction with the quarter’s performance, highlighting the company’s continuous improvement in EBITDA margins and the positive impact of strategic business initiatives. “With a record order book & L1 position of over Rs 38,000 crore and a promising tender pipeline, we are confident of concluding the year with healthy growth,” stated Kejriwal.
KEC International Ltd.’s impressive performance in Q3 FY24 is a testament to the company’s strategic vision and operational excellence. The significant growth in revenue, profitability, and a record order book position KEC as a frontrunner in the global infrastructure EPC market. With continued focus on innovation and efficiency, KEC is well-positioned to capitalize on the burgeoning opportunities in the infrastructure sector.