KEC has registered a robust YTD order intake of INR 10,465 crore, registering a growth of 25 percent.
November 7, 2022
KEC International Ltd., a global infrastructure EPC major and an RPG Group Company, has announced its results for the second quarter (Q2 FY23) and half year (H1 FY23) that ended September 30, 2022.
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Consolidated Financial Performance:
In Q2 FY23, the revenue registered was INR 4,064 crore as against INR 3,587 crore in Q2 FY22. Also, in the H1 FY23, the revenue was Rs. 7,382 crore while it was INR 6,127 crore in H1 FY22.
The EBITDA was INR 178 crore in the quarter under review while it was INR 253 crore in the corresponding quarter of the previous fiscal. The EBITDA of H1 FY23 was INR 346 crore as compared to INR 413 crore in H1 FY22.
The EBITDA Margin (Y-o-Y) in Q1 FY23 was 4.4 percent as against 7.1 percent in Q1 FY22. Moreover, the EBITDA Margin in H1 FY23 was 4.7 percent while it was 6.7 percent in H1 FY22. The EBITDA Margin (Q-o-Q) in the quarter under review was 4.4 percent as against 5.1 percent in the corresponding quarter of the previous financial year.
The YTD (Year to Date) order intake was INR 10,465 crore, registering a robust growth of ~25 percent on a YoY basis. Further, the YTD Order Book was INR 27,569 crore including orders released in Q3 FY23 to date, a healthy growth of ~25 percent YoY basis. Additionally, the Level 1 (L1) Assets were over INR 6,500 crore.
Mr. Vimal Kejriwal, MD & CEO of KEC International Ltd. commented, “We have delivered 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’s performance. We have significantly reduced our exposure to legacy projects and have commenced the execution of projects which are secured based on current commodity prices and logistics costs. This augurs well for us and gives us confidence in 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 continued strong growth in the coming quarters.”