KEC International Ltd - Stock Valuation and Financial Performance

BSE: 532714 | NSE: KEC | Engineering - Construction | Small Cap

KEC International Share Price

754.65 -11.90 -1.55%
as on 21-Feb'25 16:59

DeciZen - make an informed investing decision on KEC International

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

KEC International stock performance -

P/E Ratio (SA):
78.44
Market Cap:
20,088.8 Cr.
52-wk low:
648.5
52-wk high:
1,312

Is KEC International Ltd an attractive stock to invest in?

1. Is KEC International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that KEC International Ltd is a good quality company.

2. Is KEC International Ltd undervalued or overvalued?

The key valuation ratios of KEC International Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is KEC International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of KEC International Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of KEC International:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
KEC International Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 19.4%20%20.1%28.4%29.6%24.5%23.9%16.8%12.2%12.7%-
Value Creation
Index
0.40.40.41.11.20.80.80.2-0.1-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6,5927,6907,5669,03710,11810,47111,85212,57315,41317,38318,432
Sales YoY Gr.-16.7%-1.6%19.4%12%3.5%13.2%6.1%22.6%12.8%-
Adj EPS 2.27.912.417.214.617.924.515.38.15.59.6
YoY Gr.-260.9%56.7%38.6%-15.5%23%36.9%-37.5%-47.4%-32%-
BVPS (₹) 43.253.864.479.397110.4136.9150154.2158.5188.5
Adj Net
Profit
56.6204320443374461631394207141256
Cash Flow from Ops. 62.7-37.31,545774171120833104576335-
Debt/CF from Ops. 24.6-68.711.79.218.22.123.54.79.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.4%11.4%13.6%12.8%
Adj EPS 10.7%-17.7%-39.3%-32%
BVPS15.5%10.3%5%2.8%
Share Price 24.3% 17.4% 18.2% 13.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
5.316.421.12416.517.319.810.75.33.55.5
Op. Profit
Mgn %
6.89.910.811.19.710.4119.15.95.55.3
Net Profit
Mgn %
0.92.74.24.93.74.45.33.11.40.81.4
Debt to
Equity
1.41.90.90.70.60.80.50.60.70.8-
Working Cap
Days
277284325304327354344362322308139
Cash Conv.
Cycle
1557958770503825-11-5216

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 13.62%

Debt to equity has declined versus last 3 years average to 0.81

Return on Equity has declined versus last 3 years average to 5.50%

Net Profit has been subdued in last 3 years -39.29%

Sales growth is not so good in last 4 quarters at 8.17%

Latest Financials - KEC International Ltd.

Standalone Consolidated
TTM EPS (₹) 9.6 17.1
TTM Sales (₹ Cr.) 18,432 21,139
BVPS (₹.) 188.5 194.8
Reserves (₹ Cr.) 4,964 5,133
P/BV 4.00 3.87
PE 78.44 44.22
From the Market
52 Week Low / High (₹) 648.50 / 1312.00
All Time Low / High (₹) 21.73 / 1312.00
Market Cap (₹ Cr.) 20,089
Equity (₹ Cr.) 53.2
Face Value (₹) 2
Industry PE 25.7

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 5,302 6.93,888 5.14,484 12.64,758 8.2
Adj EPS (₹) 3.6 216.71.3 733.32.2 738.52.7 60.2
Op. Profit Mgn % 5.36 120 bps4.47 -11 bps5.13 51 bps5.90 111 bps
Net Profit Mgn % 1.75 116 bps0.83 73 bps1.30 113 bps1.53 53 bps

Management X-Ray of KEC International:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:50.1%Institutions:40.11%Non-Institutions:9.79%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%10%20%30%40%50%60%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of KEC International

MRP
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MOS
spaceLock icon%
DP
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Base EPS
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DPS
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MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

KEC International Ltd. Q3FY25 Results - 14 Feb 2025

Decent results, EBITDA margin expanded by 100 Bps. Company has a robust order book of Rs.37,440 crores.

  *Transmission & Distribution

                                       

Segmental highlights:

  • Transmission & Distribution:

    • In Q3 FY25, T&D segment generated revenue of Rs. 3,175 crores,(+17% YoY), contributing ~59% to total revenue. Growth was driven by strong project execution during the quarter.

    • As of Dec’24, total order book stands at Rs. 37,440 crores, with the T&D segment contributing 59% of the overall order book.

  • Civil:

    • This segment includes factories, buildings, public spaces, water pipelines, water treatment plants, data centres, logistics, and warehouses.

    • In Q3 FY25, the civil segment generated revenue of Rs. 1,102 crores, revenue was flat due to delays in water project execution. Delay has been done deliberately because payments were not made by clients.

    • In this segment company has bagged orders from residential and industrial real estate and metal sectors.

    • The Civil segment accounts for 25% of the total order book.

  • Railways:

    • During the quarter, the Railways segment reported revenue of Rs. 456 crores, a 30% YoY decline, contributing ~9% to total revenue.

    • The segment contributes 11% to the overall order book.

    • KEC has been selective in bidding for new projects due to unfavourable margin profiles in earlier contracts and delays in execution of on-going projects.

    • Of the overall railways capex outlay in the budget of Rs.2.52 lac crores KEC has total addressable market of Rs.1.11 lac crores.

  • Cables:

    • The Cables segment generated Rs. 406 crores in revenue in Q3 FY25, reflecting 6% YoY growth, and contributed ~8% to total revenue. Its contribution to total order book is miniscule (~1%).

    • Commissioned first phase of Aluminium Conductor Plant, with final phase on track for commissioning by end Mar’25. 

    • As customers shift from copper to aluminium and the growth opportunity is also better in aluminium conductors, the company has commenced operations at its aluminium conductor plant.

    • Additionally company has made capital investment for production of E-beam and Elastomeric cables which are expected to commission by end of next year financial year.

Other highlights:

  • Company has raised Qualified Institution Placement (QIP) of Rs.870 crores; issued shares at Rs.953/share.

  • Company is expecting debt to go down by at least Rs. 500 crores in Q4 and interest cost to come down to 2.9% of revenue from existing 3.2%.

  • Management is confident of achieving 110 days of Net working capital days of from currently 132 days.

KEC International: Stock Pulse - 29 Dec 2023

Stock pulse is a format where we explore the most important questions to understand the company's performance.

What is the current position of the company?

KEC International Ltd is primarily engaged in Engineering, Procurement and Construction business (EPC) relating to infrastructure interalia products, projects and systems and related activities for power transmission, distribution, railway and other EPC businesses. The company is a part of RPG group which is a diversified conglomerate with interests in areas of infrastructure, tyres, information technology, pharmaceuticals, energy and plantations. The group is headed by Harsh Goenka.

How does  company's current order book look like?

KEC takes up design, engineering and delivery of electrical projects like transmission lines and substations. Its customers include Power Grid and large industrial companies with in-house electricity infrastructure.

 

KEC also expanded operations in Middle East, Africa and Americas to reduce dependency on few geographies.

In EPC companies, order book and debt level are the two key monitorables. EPC is like a trading business with thin margins. To succeed in this business, one requires experience and capital to bid for large orders. Even if the competition is high, large market size gives every player chance to grow. From FY20 onwards company has increased its revenues at 13% CAGR and current order book stands at ~Rs. 30,000 Cr, providing revenue visibility for next 7 to 8 quarters. 

What are the tailwinds?

  • Strong order book and tender pipeline: Highlights from Earnings conference call transcript for Q2FY24

 

  • KEC International experiences several tailwinds that propel its growth and prospects. Enhanced capital expenditure (capex) in Gulf Cooperation Council (GCC) countries fuels opportunities for expansion and project engagements, augmenting the company's presence in these markets. 
  • Furthermore, there's a notable uptick in private capex, particularly within the realty and metals & mining sectors, fostering increased opportunities for KEC International's services and solutions. 
  • The government's substantial emphasis on infrastructure development acts as a catalyst, offering a robust pipeline of projects, aligning with the company's strengths. Moreover, the heightened demand for tower supply in North America presents a significant market for KEC International's offerings. 
  • Additionally, the positive turnaround of the SAE segment, marked by consecutive quarters of positive Profit Before Tax (PBT), showcases a promising trajectory, indicating a favourable direction for the company's overall performance and potential growth.

What are the headwinds?

KEC International faces several headwinds in its current operational landscape. The company grapples with persistently high interest costs, impacting its financial performance. Moreover, there's notable pressure within its supply chain, particularly in its transmission & distribution (T&D) and civil businesses, posing challenges to operational efficiency. The subdued order intake in the Railways segment further adds to the company's concerns, affecting growth prospects. Additionally, the continued geo-political unrests in certain regions create uncertainties and potential disruptions in the company's operations, adding to the complexities faced by KEC International in navigating the global market.

EPC business due to the long execution period of projects, milestone-based payments in the non-T&D businesses and the retention money requirement (that is released post the defect liability period) are depend on working capital financing. This, in turn, results in dependence on short-term borrowing and extended credit period to the suppliers and sub-contractors. Manging Net working capital is key thing in EPC business. Highlights from Earnings conference call transcript for Q2FY24

 

 

 

K E C International Ltd: Q2FY24 result update - 04 Nov 2023

Particulars

Q2FY24

(Rs. Cr)

YoY Trend

Comments

Revenue

4,499

+11%

 
EBITDA

274

+54%

 
EBITDA Margin

6%

+200 bps

 
PAT

56

+2%

 

Robust Performance on the back of strong order intake of Rs. ~9,000 Cr majorly in Transmission, Distribution, and Civil Business. Management expects EBITDA margins to continue to improve over the next few quarters.

KEC International: Q4FY23 Result Update - 05 May 2023

The company reported revenue growth of 29% in Q4FY23 to 5,525, driven by healthy growth in both T&D and non-T&D businesses. EBITDA margins for Q4 improved from 4.4% to 5.1% compared to previous quarter.  For Year FY23

Revenue grew by 26% to 17,282 with EBITDA margin declined from 6.6% to 4.8%.

At par result with improvement in margin compared to previous quarter.

 

KEC International: Quarterly Result update - 10 Nov 2022

KEC International

Market Cap 10,529 Cr

CMP 410

P/E 22xFY23

Results

INR Cr

YoY Growth

Comments

Revenue

4064

13%

Healthy execution across segments, with 16% growth in Non-T&D segment

EBITDA

178

-30%

EBITDA margins declined by 270 bps to 4.4% due to higher expenses

Check here for 10 year X-ray

Key Highlights-

  • Civil segment (18.2% of revenues) grew by 65% led by execution in Metro, water pipeline and industrial projects. While railway declined by 13% to 858 Cr (21% of revenues) on yearly basis.
  • Order book grew by 25% Year-on Year to Rs. 27,569Cr.
  • Margins impacted due to execution of legacy projects, elevated freight cost and continued losses in SAE Brazil.
  • Total expenses rose by 20% to 3886 Cr, with Erection and subcontracting expenses rising 49% to 1520 Cr.
  • Being capital intensive and asset heavy business, interest expenses increased by 74% to 128 Cr due to high debt on books (5,919 Cr).

Management Outlook

  • Management expects revenue growth to be 20% for FY23, from 15% earlier. Order inflows to be in range of 18,000-20,000Cr.
  • Management guided on margins to improve to high single digits as the execution of new orders gets underway and softened commodity prices.
  • Management aims to bring down to interest expense at 2.8% of sales for FY23, from 3.1% (Q2 FY23).
  • Company provided outlook on Capex resurgence in India due to infrastructure push, as Gulf Countries due to high oil prices.

KEC International: Quarterly Result update - 05 Aug 2022

KEC International | Market Cap : Rs. 11,029 Cr

CMP 429 | P/E 23x FY23

Results

(Rs. Cr)

Y-o-Y Growth

Comments

Revenue

3,318

30.6%

Strong execution of order in hand

EBITDA

168

5%

Higher raw material prices, higher freight costs and continued SAE losses

Click here for 10 year X-ray

Key highlights:

  • Revenue increased due to sharp jump in civil segment and improved execution across other segments
  • The company was able to make nearly double-digit margins in both civil and railways while margins remained weak on T&D due to fixed price nature of contracts and losses at SAE.
  • Interest cost moved up sharply on higher borrowing, which was led by continued support to SAE, higher working capital and pending receivables from Afghanistan
  • Order inflow for year to date was Rs. 3,500 Cr, resulting in 16% improvement in order book to Rs. 23,700 Cr.
  • Civil segment inflow was healthy and the company is L1 in projects across water, industrial, residential, data center. T&D pipeline is also healthy across both domestic and international projects.

Management Outlook

  • KEC is eyeing a prospect pipeline of Rs. 1.10 lakh Cr spread across segments with larger proportion coming from T&D – domestic as well as international, civil, projects from MENA region and technologically advanced projects from railways.
  • For railways, the company is targeting projects on speed upgradation, train collision avoidance system and is also targeting international projects.
  • The company has witnessed a sharp increase in working capital and correspondingly higher debt. It expects working capital to come down on release of milestone-based claims from railways and T&D projects by 2HFY23, release of GST related claims worth Rs2.5 bn from government, and progress on discussions with ADB and World Bank on pending receivables from Afghanistan.
  • Overall, KEC expects order inflows to grow by 15% for FY2023. It expects margins to inch up to double digit by FY2024 and expects working capital to start coming down from 2HFY23

Key Ratios of KEC International

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
NCC 186.9 -5.9 (-3%) Small Cap 18,314 11.7 3.6 16.5 1.7
KEC International 754.7 -11.9 (-1.6%) Small Cap 17,383 9.6 0.8 79.7 4.1
Kalpataru Projects 920.1 -7.1 (-0.8%) Small Cap 16,760 32.6 3.6 28.4 2.3
Afcons Infra 452.4 -3.3 (-0.7%) Small Cap 12,907 12 2.6 37.9 1.9
Ircon International 158.5 -2.2 (-1.4%) Small Cap 12,331 8.1 7.7 19.8 2.4
Ashoka Buildcon 195.8 -5.3 (-2.6%) Small Cap 9,798 53.8 4.6 3.7 1.6
GR Infraprojects 1,061.9 -7.3 (-0.7%) Small Cap 7,788 199.1 12.8 5.4 1.4
ITD Cementation 529 -1.1 (-0.2%) Small Cap 7,718 20.3 3.5 26.1 5.3
PNC Infratech 269.6 9 (3.5%) Small Cap 7,699 38.5 11 6.8 1.3
JP Associate 4.4 0 (0.5%) Small Cap 6,568 -10.3 -14.8 - -0.2
Shows rows:

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales6,5927,6907,5669,03710,11810,47111,85212,57315,41317,383
Operating Expenses 6,2056,9496,8068,0579,1399,38010,55211,43014,50316,438
Manufacturing Costs1,3851,7061,5281,8082,4052,3802,9313,2964,1214,172
Material Costs3,8444,0603,9165,0015,3345,2325,8756,4068,31210,031
Employee Cost 3574505065626307437678509971,107
Other Costs 6187348576857701,0269798771,0731,129
Operating Profit 3887417609819791,0911,3001,144911945
Operating Profit Margin (%) 5.9%9.6%10.0%10.8%9.7%10.4%11.0%9.1%5.9%5.4%
Other Income 17837643622814152948191
Interest 313322285279366369333359539699
Depreciation 7011811595106118122123127146
Exceptional Items 0000000-143-760
Profit Before Tax 182339424641735745897613250192
Tax 721431422112382002511787044
Profit After Tax 111195282430498546646434180148
PAT Margin (%) 1.7%2.5%3.7%4.8%4.9%5.2%5.5%3.5%1.2%0.8%
Adjusted EPS (₹)4.37.611.016.719.421.225.116.97.05.7
Dividend Payout Ratio (%)21%13%15%14%14%16%16%24%43%70%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1,1111,3821,6562,0392,4942,8383,5203,8563,9644,076
Share Capital 51515151515151515151
Reserves 1,0591,3311,6041,9872,4432,7873,4683,8043,9124,024
Minority Interest0000000000
Debt1,4612,5101,4621,2931,5221,9541,7712,4392,5563,067
Long Term Debt20816726140137813817219623317
Short Term Debt1,2522,3421,2018931,1441,8161,5992,2432,3233,050
Trade Payables2,8622,6492,9744,4514,6174,7365,8416,2557,8418,649
Others Liabilities 7121,4481,5991,9522,4672,5922,3142,6331,6531,711
Total Liabilities 6,1457,9897,6909,73511,10012,12013,44615,18216,01317,501

Fixed Assets

Gross Block1,0951,1961,2421,2881,4181,5641,6181,7821,8722,051
Accumulated Depreciation3704395306026908079091,0151,0931,218
Net Fixed Assets724757712686728757709767779833
CWIP 1274715918287
Investments 7811223184366168079641,0761,159
Inventories372253270448469597681706767886
Trade Receivables3,2274,3843,9494,8354,7345,2235,2124,7133,9403,756
Cash Equivalents 1266915521424796182210181161
Others Assets1,6772,4392,4773,1634,4804,8225,8387,8199,26210,701
Total Assets 6,1457,9897,6909,73511,10012,12013,44615,18216,01317,501

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 63-371,545774171120833104576335
PBT 182339424641735745897613250192
Adjustment 242515543357258442466541617780
Changes in Working Capital -242-769666-12-552-733-323-803-105-424
Tax Paid -120-122-87-212-270-334-207-248-186-212
Cash Flow From Investing Activity 127-103-153-347-94-292-179-361-297-267
Capex 128-8-58-133-85-113-70-110-137-203
Net Investments 0000000000
Others -1-95-95-214-9-179-109-251-160-64
Cash Flow From Financing Activity -15436-1,327-374-108105-600293-309-95
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -33-7630155-35-105-9422200-166
Interest Paid -246-235-210-169-290-243-332-240-447-565
Dividend Paid -17-58-1-41-61-156-1-103-103-77
Others 143404-1,146-318278609-17461241713
Net Cash Flow 36-1056553-31-675436-30-26
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)10.3315.6818.5523.2821.9620.4720.3211.784.613.67
ROCE (%)19.420.0120.0528.3629.5924.5223.8716.7712.1612.68
Asset Turnover Ratio1.111.120.991.040.970.90.930.880.991.04
PAT to CFO Conversion(x)0.57-0.195.481.80.340.221.290.243.22.26
Working Capital Days
Receivable Days17717619717717317416114410281
Inventory Days19141214171920201717
Payable Days272212180160198246247240220238

KEC International Ltd Stock News

KEC International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of KEC International on 21-Feb-2025 16:59 is ₹754.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Feb-2025 16:59 the market cap of KEC International stood at ₹20,088.8.
The latest P/E ratio of KEC International as of 21-Feb-2025 16:59 is 78.44.
The latest P/B ratio of KEC International as of 21-Feb-2025 16:59 is 4.00.
The 52-week high of KEC International is ₹1,312 and the 52-week low is ₹648.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of KEC International is ₹18,432 ( Cr.) .

About KEC International Ltd

KEC International Limited, headquartered in Mumbai, India, is the flagship company of the RPG Group. An Engineering, Procurement, and Construction (EPC) major, the company deliver projects in key infrastructure sectors such as Power Transmission & Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, and Cables. Its robust and integrated capabilities span the entire spectrum of ‘concept to commissioning’. It has successfully executed complex projects across some of the world’s most difficult terrains and conditions aided by robust project management and execution capabilities. It has unrivalled expertise in manufacturing and testing, with a footprint extending across India, Dubai, Brazil, and Mexico.

The company has prided itself for its unmatched expertise across EPC, backed by a strong, customer-centric approach, quest for world-class quality, and ‘safety-first’ attitude. Integrity in its actions and respect for people, environment and its stakeholders are the cornerstones of its corporate responsibility. Empowered by a mindset driven to outperform and excel, it builds infrastructure for the world of tomorrow.

Business area of the company

Power Transmission & Distribution: The company is a global leader in the Power Transmission & Distribution EPC space. This is the largest business vertical of the company. The company has capabilities to design, manufacture, test, supply and erect transmission lines on turnkey basis, along with end-to-end solutions for underground HT and EHV cabling works. The company also executes turnkey EPC projects that involve High Voltage Electrical Switching and Distribution Substations across the globe.

Cables: The company is one of the leading manufacturers of power and telecom cables in India. It has two state-of-the-art manufacturing facilities located in Vadodara (Gujarat) and Mysore (Karnataka). It pioneered the production of XLPE cables in India. It has a diverse clientele across industries including power, oil & gas, steel, engineering, electricity supply, etc. The company is also amongst the leading Indian exporters of cables. The company is well equipped with testing facilities as per various national and international specifications.

Railways: The company is an integrated player in the Railway EPC industry, providing complete turnkey solutions for all types of railway contracts. The company has integrated backwards to manufacture contact & catenary conductors, signalling cables as well as galvanised steel structures for railways.

Solar: In line with the government’s increased focus on Renewable Energy sector, the company has made a move to carve out its presence in the sector by providing Solar EPC services for large solar PV projects developed by private players and roof-top PV solutions for Industrial and Commercial consumer.

Civil business: The company’s Civil business focuses on the construction of factories, warehouses, residential buildings, railway stations, metros, and sewage & water treatment plants, and comprises of four verticals - A. Infrastructure & Heavy Civil (Metro & Water Projects), B. Industrial & Hydrocarbon (Factories), C. Residential & Public Spaces (Buildings, Commercial Spaces), D. Defence (Civil projects in Defence sector). It provides professional EPC services in an area dominated either by small unorganised players or by very few large companies.

Smart Infrastructure: RPG Smart Infra, a division of KEC International, helps Cities with implementation & commissioning of these technologies along with operating & maintaining them, and training the City administrators to manage the infrastructure. KEC brings in decades of experience in projects across utilities, railways, solar and civil infrastructure along with its strong financial fundamentals and an appetite to take on large scale projects.

Awards & Recognition

2008:

  • Corporate Leadership Award, 2008.
  • Amity Corporate Excellence Award, 2008.

2009:

  • Best CFO Award, 2009.

2010:

  • Best Employer Awards.

2011:

  • National HRD Network (NHRDN) Awards 2011.
  • CII Design Excellence Awards, 2011.
  • Green IT Enterprise Award 2011.

2012:

  • Certificate of Merit at India Manufacturing Excellence Awards, 2012.
  • Export Excellence Awards.

2013:

  • Best Employer Award, 2013 by Aon Hewitt.
  • KEC Jaipur tower manufacturing unit won the Best Employer Award 2012.
  • Indo-American Corporate Excellence Award for Best Indian Company in the US in Manufacturing, 2013.
  • BML Munjal Award for Excellence in Learning and Development, 2013.
  • National Award for Innovative Talent Development Practices, 2013.

2014:

  • KEC International has won the following two prestigious awards from Power Grid Corporation of India (PGCIL).
  • KEC International Jabalpur unit won Outstanding Achiever for Export Award 2014.
  • Third time in a row KEC’s Jaipur tower manufacturing unit won the “Best Employer Award 2013” by Employer Association, Rajasthan.

2015:

  • For the third consecutive year, PGCIL appreciated KEC’s work by conferring three of its most coveted awards to KEC.
  • Dun & Bradstreet recognized KEC International as ‘The Leading Infrastructure Company in Power Sector’ at D&B’s Infra Awards 2015 held in Delhi in October 2015.
  • Best Employer Award 2014.

2016:

  • Awards for Quality & Excellence from National Grid of Saudi Arabia.
  • Outstanding Performance at the ZTE India Partners Meet 2016.
  • Industry Honour for Outstanding Contribution in Power EPC, at the 6th EPC World Awards.
  • KEC wins Best Performing Contractor 2016 Award.

2017:

  • Supply Chain Plants win India Manufacturing Excellence Award
  • KEC receives the ‘Special Trophy - Excellence in Engineering Process Outsourcing Services’ at EEPC India’s Western Regional Awards for 2015-16.
  • KEC wins Butibori Morarjee Rolling Trophy at CCQC.
  • Rising Star Solar PV EPC Company Award. 

2018:

  • Gold Award in Construction for Civil business at 17th Annual Greentech Safety Awards 2018.
  • Gold Award for Jaipur Manufacturing plant at the SEEM National Energy Management Awards (SNEMA) 2017.
  • Diamond Award for Vadodara Manufacturing plant at Quality Circle Forum of India.
  • Outstanding Performance in CSR by Employer Association of Rajasthan.
  • Greentech Safety Award for Power Transmission.
  • Best CSR Activity at Construction Times Awards 2018.
  • KEC plants win Gold & Silver at SNEMA Awards 2017.
  • Award for Maximum Capitalisation in Transmission Line Construction from PGCIL.

2019:

  • Company of The Year award at the 2019 Dun & Bradstreet Infra Awards.
  • Project of the Year award for 220 kV Srinagar-Leh Transmission System project at the 2019 Dun & Bradstreet Infra Awards.
  • Significant Contribution to Innovation in India at the 15th I-ACE Awards.
  • Best Executed Landmark Project Award at Nepal Infrastructure & Construction Excellence Awards 2019.
  • Excellence in Infrastructure Award at the Rail & Metro Award 2019.

Milestone

  • 1945: Established for manufacturing, enameling, trading for Hollowware.
  • 1950: First tower supply order for Bhakra Nangal Project, India.
  • 1959: First 220 kV turnkey transmission line project in India.
  • 1960: First export tower supply export order from New Zealand.
  • 1961: First Indian company to get a Railway Electrification order.
  • 1968: First international turnkey transmission project in Sudan.
  • 1982: Taken over by RPG Group.
  • 1999: First 765 kV transmission project.
  • 2007: RPG Transmission and NITEL merged. Telecom, Distribution SBU started.
  • 2009: Railway SBU started.
  • 2010: Acquired SAE towers in the Americas.
  • 2010: Acquired and merged RPG Cables.
  • 2010: World’s Highest capacity (1,200 kV) tower testing station started at Nagpur, India and tested first 1200 kV tower.
  • 2011: Forays into Water EPC Business.
  • 2012: Established a world-class greenfield facility at Vadodara, Gujarat for Manufacturing of high tension (HT) and extra high voltage (EHV) power cables.
  • 2015: First 765 kV GIS Substation in Thiruvalam, which is also a first-of-its-kind in South India.
  • 2017: KEC expands its business portfolio to include Smart Infrastructure with a focus on Smart Cities & Communication, Smart Mobility and Smart Utility.
  • 2020: KEC acquired a state-of-the-art automated transmission tower manufacturing facility in mainland Dubai, with a capacity of 50,000 tonnes per annum.
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