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KEC International Announces FY22 Financial Results, PAT down by 40% YoY

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KEC International Ltd. [NSE: KEC, BOM: 532714], India-based Engineering, Procurement and Construction (EPC) company, announced its results for the last quarter of FY-22 on 3rd May 2022.

KEC International’s Q4 FY-22 Consolidated Financials

KEC’s Y-o-Y Financial Performance

KEC’s Total Income and PAT Comparison: Q4 FY21 vs Q4 FY22 vs Q3 FY22

KEC International’s total income for Q4 of FY-22 stood at Rs 4,278.17 crore, which is a 2.16% decrease from the Rs 4,372.87 crore total income clocked for the fourth quarter of FY-21.

The company recorded a Rs 112.04 crore Profit After Tax (PAT) in the quarter that ended on 31st March 2022, against a PAT of Rs 194.30 crore in Q4 of FY-21. This translates to a 42.33% slump.

At the close of FY-22, the company recorded a total income of Rs 13,755.69 crore for the fiscal, which is a 4.65% increase from the Rs 13,144.12 crore total income reported for FY-21.

KEC’s Total Income and PAT Comparison: FY21 vs FY22

PAT for the fiscal ending on 31st March 2022 was Rs 332.08 crore against Rs 552.72 crore for FY-21, thus showing a 39.91% decrease.

KEC’s Q3 vs Q4 Financial Performance for FY-22

The company’s revenue for Q4 of FY-22 showed a 27.89% increase from the revenue reported for Q3 of FY-22, which was Rs 3345.06 crore.

The PAT for the fourth quarter of FY-22 rose by 19.68% from Rs 93.61 crore reported for the previous quarter.

Summary of KEC International’s Financial Results

Commenting on the company’s financial performance, KEC International’s Managing Director & CEO, Mr Vimal Kejriwal said that the company’s performance has been steady this fiscal. He added, “While we are pleased with the impressive growth in order intake and developments on the strategic front, we had a challenging year in terms of Revenue and Profitability”. Mr Kejriwal stated that the company’s major challenge was inflation in the market and elevated commodity prices.

Talking about the company’s portfolio, Mr. Vimal Kejriwal said, “In line with our strategy of portfolio diversification, our Revenue share of Non-T&D businesses has increased to 50% this year vis-à-vis 42% last year. Our Railway and Civil businesses continued their growth momentum as they expanded their portfolio in new and emerging segments. Our Cables business demonstrated an exemplary performance by clocking its highest ever Revenues and Profitability.”

Looking ahead, he added that with the recent easing of commodity prices coupled with KEC’s robust order book, the company is confident of improving its performance.

About KEC International Ltd.: Maharashtra-headquartered KEC International Ltd. is a major EPC company, with ongoing infrastructure projects in more than 30 countries. The company has a diverse portfolio comprising projects in Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.