The Audited Financial results for the quarter and year ended March 31, 2025, along with the Auditor Reports of the Statutory Auditors are enclosed.
KEC · price
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KEC International reported strong FY25 consolidated results with revenue from operations rising to Rs. 21,846.7 crores from Rs. 19,914.2 crores in FY24, a growth of about 9.7%. Profit after tax jumped 64.6% to Rs. 570.7 crores from Rs. 346.8 crores, while EPS nearly doubled to Rs. 21.80 from Rs. 13.49. Operating margin expanded to 6.88% from 6.10% a year ago. The board recommended a dividend of Rs. 5.50 per share (275% of face value) for FY25. The company also raised Rs. 870.16 crores via a QIP in September 2024 and transferred its cable business to wholly owned subsidiary KEC Asian Cables for Rs. 125 crores effective January 1, 2025. Statutory auditor Price Waterhouse issued an unmodified opinion but flagged an emphasis of matter regarding an ongoing government agency investigation into a Transmission Project.
Robust earnings growth, margin expansion, and a healthy dividend are positives for shareholders. However, the government investigation flagged by the auditor as an emphasis of matter (involving a PSU official and a company employee, no chargesheet yet) is a key overhang to watch. The stock could see support from the strong earnings beat but may face some pressure on any adverse development in the investigation.