RKEC PROJECTS LIMITED

Executes civil construction and EPC (Engineering, Procurement and Construction) contracts for government-backed infrastructure projects in India. Work has spanned highways and bridges — including an NHAI order of Rs. 40.50 crore for balance work on a new bridge over the Gandak river, approaches, and rehabilitation of the Gandak and Mahi Bridges on the Chappara-Hajipur section of NH-19 in Bihar — and maritime infrastructure, with a Passenger Jetty and Terminal Facilities contract near the Gateway of India in Mumbai originally valued at approximately Rs. 186.67 crore before its termination by the Mumbai Maritime Board in April 2026. FY25 revenue stood at Rs. 421.92 crore with a 13.82% EBITDA margin, while the cost structure shows employee costs at 7.6% of revenue, other operating expenses at 80.2%, and depreciation at 2.1%. The company carries total financial indebtedness of Rs. 194.29 crore across term loans, cash credit and bill discounting with lenders including Bank of Baroda, HDFC, ICICI, Kotak Mahindra, CSB, Mahindra Finance, HDB Financial, Aditya Birla Finance and Vivriti Capital. Filings disclose defaults on principal and interest payments totaling approximately Rs. 28.12 crore, a credit rating revision to IVR D, and delayed submission of FY26 audited results, with the company stating it is working to resolve cashflow issues.