Q1 2025 KEC International Ltd Earnings Call Transcript
Key Points
- KEC International Ltd (BOM:532714) reported a robust order intake of over INR 7600 crore, marking a 70% growth compared to the previous year.
- The company has a strong and diversified order book of approximately INR 32,700 crore, with an L1 position of over INR 42,000 crore.
- KEC International Ltd (BOM:532714) achieved revenues of INR 4,512 crore for the quarter, a 6% increase year-over-year.
- EBITDA margins improved by 70 basis points to 6.5%, and the company saw a 20% year-over-year growth in EBITDA.
- The company successfully reduced its interest expenses by 30 basis points, now standing at 3.4% of revenue for Q1 FY25.
- Revenue growth was hindered by an acute shortage of manpower due to elections in India and continued supply chain pressures.
- Despite the overall positive performance, the standalone margins remain a concern, with some legacy projects still affecting profitability.
- The company faces challenges in the railway business, particularly with margins in the India segment.
- There are ongoing supply chain issues, especially with transformers and equipment supply disruptions in Middle East projects.
- The civil business growth was impacted by severe labor shortages during the quarter, and the order intake in this segment has stagnated.
Ladies and gentlemen, good day, and welcome to the KEC International Limited Q1 FY25 earnings conference call. We have with us today from the management, Mr. Vimal Kejriwal, Managing Director and Chief Executive Officer and Mr. Rajeev Aggarwal, CFO of KEC International Limited.(Operator Instructions)
I now hand the conference over to Mr. Vimal Kejriwal. Thank you, and over to you sir.
Good morning, and thank you, Steve. Good morning, everyone, and welcome to the Q1 earnings call of KEC. Let me begin with an update on the overall performance for the quarter and thereafter, talk about each of the respective businesses and certain key strategic developments.
We commenced the financial year with a robust order intake of overINR7600 crore, a staggering growth of 70% vis-a-vis last year.
Despite the challenges posed by elections, our YTD order inflows have been driven primarily by T&D, followed by civil and renewables. Additionally, we have a
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