
KEC International is a leading global infrastructure company that has been in operation since 1944. Its headquarters is located in Bangalore, India.
The company has a strong presence in the power transmission and distribution sector, with a portfolio that includes EHV substations, transmission lines, and substation equipment. KEC International has also made a significant impact in the renewable energy sector.
KEC International is a part of the RPG Group, a well-established business conglomerate in India. The RPG Group has a diverse portfolio of businesses across various sectors, including infrastructure, energy, and consumer products.
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Financial Performance
KEC International's financial performance has been a mixed bag over the past few years. The company's ROCE has increased over the last three years, indicating improved efficiency.
The asset turnover is responsible for the ROE increase over the last 10 years, which is a positive sign for the company's financial health. Sales growth has been slow, but the company's margins have been volatile.
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The company's working capital seems to be under control, which is a good sign for its financial stability. However, it might have issues servicing its debt, which could be a concern.
Here's a summary of the company's quarterly results:
The company's net profit has been increasing over the past few years, with a significant jump in the last quarter. However, it's essential to note that the company might have issues paying its suppliers due to its balance sheet strength.
Financial Analysis
KEC International's cash flows have shown some fluctuations over the years, with a net cash flow of $-14 in Mar 2014 and $341 in Mar 2025.
The company's cash from operating activity has been positive in most years, with a high of $1,662 in Mar 2017 and a low of $-284 in Mar 2022.
KEC International's cash conversion cycle has been a concern, with a negative value in most years, indicating that the company takes longer to collect its receivables and pay its payables than its industry peers.
The company's debtor days have been relatively high, ranging from 76 days in Mar 2024 to 200 days in Mar 2016.
Here's a summary of KEC International's key ratios:
KEC International's inventory days have been increasing over the years, ranging from 32 days in Mar 2016 to 65 days in Mar 2021.
The company's working capital days have been relatively low, ranging from 1 day in Mar 2014 to 42 days in Mar 2025.
KEC International's debtor days and inventory days are a concern, indicating that the company may be facing challenges in managing its working capital.
Financial Statements
KEC International's financial statements reveal a story of steady growth and stability. The company's equity capital has remained unchanged at 51 since 2014.
The company's reserves have increased significantly over the years, from 1,140 in 2014 to 5,294 in 2025. This indicates a strong focus on building a robust financial foundation.
Borrowings have fluctuated over the years, ranging from 2,130 in 2014 to 3,957 in 2025. This suggests that the company has managed its debt effectively.
Other liabilities have increased steadily, from 4,069 in 2014 to 12,859 in 2025. This is a concern, as it may indicate a growing reliance on external financing.
Here's a breakdown of the company's total liabilities and assets over the years:
The company's fixed assets have remained relatively stable, ranging from 1,352 in 2014 to 1,647 in 2025. This indicates a consistent investment in long-term assets.
The company's current assets, including cash and other current assets, have increased steadily over the years, from 6,020 in 2014 to 20,479 in 2025. This is a positive sign, indicating that the company has a strong ability to meet its short-term obligations.
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Stock Performance
KEC International's stock performance has been impressive, with the share price increasing over the last 10 years due to earnings. This growth is a testament to the company's strong financial health.
The company's return on capital employed (ROCE) has consistently been strong, increasing over the last three years. This indicates that KEC International is efficiently utilizing its capital to generate profits.
KEC International's asset turnover has been responsible for its return on equity (ROE) increase over the last 10 years. This means that the company has been able to generate more profits from its assets, leading to higher ROE.
The company's working capital seems to be under control, which is a positive sign for its financial health. However, it's worth noting that KEC International might have issues servicing its debt.
Here's a summary of KEC International's stock performance:
Industry Insights
KEC International has been a leading player in the transmission and distribution (T&D) sector for decades. The company has successfully executed several large-scale projects, including the 765 kV transmission lines for the Western Region of India.
KEC International's expertise in the T&D sector is evident in its ability to design and execute complex transmission projects. The company has a strong track record of delivering projects on time and within budget.
The company's focus on innovation and R&D has enabled it to develop cutting-edge technologies that enhance the efficiency and reliability of transmission systems.
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Industry Analytics
Industry Analytics is a crucial aspect of any industry, and understanding its intricacies can make all the difference. The global industry is expected to reach $10.8 trillion by 2025, with a compound annual growth rate (CAGR) of 5.3%.
The industry is highly competitive, with over 50% of companies having a digital transformation strategy in place. This shift towards digitalization has led to a significant increase in data generation, with an estimated 2.5 quintillion bytes of data being created every day.
The use of data analytics has become essential for making informed business decisions, with 80% of companies using data analytics to drive their strategic planning. By leveraging industry analytics, businesses can gain valuable insights into market trends, customer behavior, and operational efficiency.
The industry is also witnessing a rise in the adoption of artificial intelligence (AI) and machine learning (ML) technologies, with 60% of companies already implementing these technologies in their operations. This has enabled businesses to automate processes, improve decision-making, and enhance customer experiences.
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ICT Spending & Priorities
Understanding ICT spending and priorities is crucial for businesses to make informed decisions about their digital strategy. IT Client Prospector provides intelligence on a company's likely spend across technology areas, enabling you to grasp their digital strategy.
KEC International Ltd's ICT spend is likely a significant investment, but the exact amount and allocation are not specified.
To navigate the complexities of ICT spending, it's essential to consider the various technology areas that are being prioritized.
KEC International Ltd's tech priorities are not explicitly stated in the provided information.
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Business Operations
KEC International's operational metrics provide valuable insights into the company's business operations. The annualized order inflows (Crs) indicate a steady stream of new orders, which is a positive sign for the company's growth.
KEC International has a significant manufacturing capacity, with power cables production standing at 100,000 MTPA, instrumentation cables at 50,000 MTPA, copper telecom cables at 150,000 MTPA, and canetary conductors at 500,000 MTPA, and contact wires at 1,000,000 MTPA.
The order book as a percentage of sales is a crucial metric for understanding the company's sales pipeline. The current order book as a % of sales is 100%.
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Employees
The company's workforce is a significant aspect of its business operations. As of 31 March 2022, KEC International Limited has a total of 40,251 employees.
KEC International Limited has a substantial number of employees, with a total of 40,251 as of 31 March 2022.
A notable portion of these employees are permanent, with 9,114 employees holding permanent positions.
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Construction Projects
Identifying new construction projects can be a game-changer for your business, allowing you to tap into emerging opportunities and stay ahead of the competition.
Access to new construction projects can be filtered by various criteria, including location, stage, sector, size, and funding. This level of specificity is invaluable for businesses looking to target projects that align with their unique strengths and goals.
By narrowing down the search, you can increase the chances of securing a project that meets your needs and maximizes your potential for success.
It Services Contracts
Having access to publicly disclosed IT services contracts can be a game-changer for businesses.
You can improve competitive bidding by getting insights into these contracts, like the ones for KEC International Ltd, which cover IT outsourcing, business process outsourcing, systems integration, and consulting.
By analyzing these contracts, you can gain a better understanding of the market and make more informed decisions about your own business operations.
KEC International Ltd's contracts provide valuable data on the types of services being outsourced and the companies involved, giving you a competitive edge.
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Operational Metrics
Operational metrics are the lifeblood of any business, and understanding them can make all the difference in making informed decisions. Annualized Order Inflows (Crs) is a key metric that measures the total number of orders received by a company over a given period.
Let's take a look at the numbers: the company's Manufacturing Capacity - Power Cables (KMPA) is a significant 100,000, while Manufacturing Capacity - Instrumentation Cables (KMPA) is a respectable 50,000. Manufacturing Capacity - Copper Telecom Cables (KMPA) is also noteworthy, standing at 75,000.
Manufacturing Capacity - Canetary Conductors (MTPA) is a substantial 200,000, and Manufacturing Capacity - Contact Wires (MTPA) is a respectable 150,000. These numbers give us a sense of the company's production capabilities.
Here's a quick rundown of the company's operational metrics:
The Order Book as a % of Sales (%) metric is an important indicator of the company's financial health.
Timeline
KEC International has a rich history that spans nearly two decades. The company was incorporated in the Ministry of Corporate Affairs, India on 18 March 2005.
In 2010, RPG Cables was merged with KEC International, marking a significant milestone in the company's growth.
KEC International's Civil Business now undertakes turnkey construction for Residential, Industrial and Commercial projects, including workshops, after merging with the Water Business in 2017.
The company received orders worth ₹1,520 crore across three business verticals in 2019.
Here's a brief overview of KEC International's major business areas:
- Power Transmission & Distribution
- Railway Infrastructure
- Civil
- Smart Infrastructure
- Cables & Cabling Solutions
- Solar
In 2024, the company reported a 108% jump in net profit to ₹87.6 crore for the April-June quarter, compared to ₹42 crore a year ago.
Announcements
KEC International has made some significant announcements recently. The company has won a major order worth Rs.1,038 crore for a 380 kV GIS substation in Saudi Arabia, taking the year-to-date orders to over Rs.16,000 crore.
KEC International has also secured a Rs.1,064 crore order for a 380 kV transmission line in Saudi Arabia, with a year-to-date intake of over Rs.15,000 crore.
The company has received new T&D orders worth Rs.1,174 crore, including projects in India and Saudi Arabia. These orders bring the year-to-date orders to around Rs.14,000 crore.
Here's a quick summary of KEC International's recent orders:
- Rs.1,038 crore order for a 380 kV GIS substation in Saudi Arabia
- Rs.1,064 crore order for a 380 kV transmission line in Saudi Arabia
- Rs.1,174 crore order for new T&D projects in India and Saudi Arabia
Competitor Comparison
KEC International, a leading company in the industry, has several competitors in the market. KEC International Ltd is headquartered in Mumbai, India, which is also the case for its competitors Larsen & Toubro Ltd and Tata Power Co Ltd.
KEC International has a smaller workforce compared to some of its competitors. For instance, Larsen & Toubro Ltd has a massive 59,018 employees, which is significantly higher than KEC International's 6,621 employees.
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KEC International is a public entity, just like its competitors Larsen & Toubro Ltd, Tata Power Co Ltd, Indus Towers Ltd, and NCC Ltd. This classification suggests that all these companies are publicly traded and open to investments.
Here's a comparison of the number of employees among KEC International's competitors:
Frequently Asked Questions
Is Kec a good company?
KEC is considered one of the best companies in the Transmission & Distribution Sector, offering a good work culture. However, promotions may be slow, so it's worth considering the company's growth prospects
Who owns KEC International?
KEC International is owned by the RPG Group, a prominent Indian conglomerate. The company is headquartered in Mumbai, India.
Why is KEC International falling?
KEC International's stock is underperforming due to concerns about its high debt and declining investor interest. Its stock price is currently at 826.05, showing a slight increase of 0.01%.
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