The Audited Financial Results for the quarter and year ended March 31, 2026, along with the Auditor Reports of the Statutory Auditors are enclosed.
KEC · price
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KEC International reported FY2026 revenue of Rs 23,506 crore, up 7.6% from Rs 21,847 crore in FY2025. Consolidated PAT grew 6.1% to Rs 605.6 crore from Rs 570.7 crore, with EPS at Rs 22.75 vs Rs 21.80. The Board recommended dividend of Rs 5.50 per share (275% on face value). EBITDA margin expanded slightly to 7.06% from 6.88% in prior year. Operating cash flow turned negative at Rs -414 crore versus positive Rs 419 crore in FY2025 due to higher working capital deployment. Debt-equity ratio increased to 0.87 from 0.74. Auditors issued an unmodified (clean) opinion but included an Emphasis of Matter on an ongoing government investigation regarding a transmission project where chargesheet has been filed and court has taken cognizance.
Positive signals include revenue growth, PAT growth, margin expansion and dividend declaration. However, negative operating cash flow and higher leverage ratio warrant attention. The ongoing investigation mentioned in Emphasis of Matter is a contingent risk but auditors did not qualify their opinion.