# KEC International (KEC) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/kec

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹332.9
- Change: +0.97%
- As of: 2026-11-06
- 1D return: +0.97%
- 5D return: +0.99%
- 1M return: -4.78%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

KEC is in a confirmed bearish trend across daily, weekly, and monthly timeframes as of 2026-11-06. The stock closed at ₹332.90, trading below all major moving averages (EMA/SMA 20, 50, 200) and the Supertrend indicator, which signals sustained selling pressure. Trend strength is established to strong, with ADX readings of 37.16 (daily), 43.21 (weekly), and 38.30 (monthly). Participation was extreme on 2026-11-06, with volume reaching 4.93 times the average during a +1.0% daily gain, though this occurred after a -9.4% drop on 2026-11-03, suggesting volatile consolidation rather than a clear reversal. Price positioning remains weak, sitting near the lower end of its 252-day range (+6.4%) and 50-day range (+25.2%). Key resistance lies at ₹336.73 (1.15% above), while immediate support is at ₹329.27 (pivot) and ₹322.23 (low). The stock has experienced a significant drawdown of -72.8% from its available high, with annualized volatility at +40.9%. A move above ₹336.73 would be required to challenge the immediate bearish structure, while a break below ₹322.23 could extend losses toward ₹317.25.

- Trend Direction: Bearish across all horizons; price trades below all supplied moving averages and Supertrend indicators.
- Momentum & Participation: Extreme volume anomaly (+4.93x ratio) on 2026-11-06 accompanied a modest +1.0% rise, following a -9.4% drop on 2026-11-03.
- Key Levels: Resistance at ₹336.73 (1.15% above); Support at ₹329.27 (pivot) and ₹322.23 (low).
- Risk Profile: High volatility (+40.9% annualized) and deep drawdown (-72.8% from peak); ADX indicates strong trend conviction.

- Inside Bar
- Bullish Engulfing Reversal
- Shooting Star

### News Context

KEC International reported a sharp deterioration in Q2 FY27 results, with consolidated net profit plunging 81.4% year-on-year to ₹30 crore and revenue shrinking 10.2% to ₹5,468 crore. The company attributed these pressures to supply chain disruptions in the Middle East and land acquisition challenges in India, which also drove EBITDA down by 37%. Despite this earnings hit, KEC secured a record order book of ₹39,946 crore, though net debt remained elevated at approximately ₹7,793 crore as of September 30, 2026.

Market reaction has been negative, with shares falling over 14% since November 3. Brokerage views are split: Nuvama issued a 'REDUCE' rating citing margin slippage, while MOFSL maintained a 'BUY' call. Conversely, Motilal Oswal and Prabhudas Lilladher have issued 'Buy' recommendations with target prices of ₹365 and ₹406, respectively. Moneycontrol Research highlighted that while the order book is strong, margins and debt levels remain key areas of concern.

- Q2 FY27 Net Profit: Plunged 81.4% YoY to ₹30 crore; Revenue fell 10.2% to ₹5,468 crore and EBITDA dropped 37% due to geopolitical and land-acquisition disruptions.
- Order Book vs. Debt: Record order book of ₹39,946 crore contrasts with high net debt of ~₹7,793 crore as of Sept 30, 2026, raising leverage concerns.
- Analyst Divergence: Nuvama downgraded to 'REDUCE' on margin risks; MOFSL kept 'BUY'. Motilal Oswal (Target: ₹365) and Prabhudas Lilladher (Target: ₹406) maintain 'Buy' ratings.
- Price Action: Shares declined 14% post-Q2 earnings release on November 3, reflecting investor sensitivity to near-term profitability pressures despite long-term pipeline strength.

- [Buy KEC International; target of Rs 365: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-kec-international-target-of-rs-365-motilal-oswal-14069262.html)
- [KEC International: Order book strong, margins and debt are of concern](https://www.moneycontrol.com/news/business/moneycontrol-research/kec-international-order-book-strong-margins-and-debt-are-of-concern-14068841.html)
- [Buy KEC International; target of Rs 406: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/earnings/buy-kec-international-target-of-rs-406-prabhudas-lilladher-14068859.html)
- [KEC International under pressure since Q2 earnings; management outlook and brokerages' views](https://www.businesstoday.in/markets/stocks/story/kec-international-under-pressure-since-q2-earnings-management-outlook-and-brokerages-views-565555-2026-11-04)
- [KEC International Faces A Tough Q2 FY27 As Earnings Take A Heavy Hit, Net Profit Plunges 81% To Just ₹30 Crore While Revenue Shrinks 10%](https://www.freepressjournal.in/business/kec-international-faces-a-tough-q2-fy27-as-earnings-take-a-heavy-hit-net-profit-plunges-81-to-just-30-crore-while-revenue-shrinks-10)

### Official Filings

KEC International’s Board approved unaudited financial results for Q2 and H1 FY27 on November 2, 2026. While consolidated revenue remained robust at ₹10,491.25 crores for the half-year, profitability faced significant pressure, with Profit After Tax (PAT) declining to ₹102 crores from ₹285 crores in the prior year period. The company reported a record order book of ₹39,946 crores and YTD intake over ₹13,500 crores, indicating strong top-line momentum despite margin compression driven by collection spillovers and lower realizations. Concurrently, the Board appointed Anant Vardhan Goenka as an Additional Director, effective November 2, 2026. He is the son of Chairman H.V. Goenka and currently serves as Vice Chairman of RPG Enterprises; shareholder approval will be sought within three months. Additionally, a chargesheet has been filed in a government agency investigation involving a PSU official and a company employee, though the financial impact remains undeterminable.

- H1 FY27 Consolidated Revenue: ₹10,491.25 crores; PAT: ₹102 crores (down from ₹285 crores in H1 FY26).
- Order Book & Intake: Record order book of ₹39,946 crores; YTD order intake over ₹13,500 crores.
- Governance Change: Anant Vardhan Goenka appointed as Additional Director (Non-Executive, Non-Independent) effective Nov 2, 2026; shareholder approval pending within three months.
- Legal Proceeding: Chargesheet filed in a government agency investigation; financial impact currently not determinable.

- [Please find enclosed herewith copies of newspaper advertisements published regarding Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KEC_04112026152248_SEintimation.pdf)
- [Audio Recording of the Earnings Conference Call held today i.e. November 03, 2026, at 10:00 a.m. (IST), for the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026, has been made available on the Company's website. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/KEC_03112026175244_SE_Intimation.pdf)
- [KEC INTERNATIONAL LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261103_175943537.xml)
- [The Unaudited Financial Results for the quarter and half year ended September 30, 2026, along with the Limited Review Reports of the Statutory Auditors are enclosed. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KEC_02112026210430_SE_intimation_BM_outcome_Results.pdf)
- [The Board of Directors of the Company at its meeting held today i.e. November 02, 2026, inter alia, approved the appointment of Mr. Anant Vardhan Goenka as an Additional Director (Non-Executive, Non-Independent) effective November 02, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/KEC_02112026211334_SE_Intimation_Appointment_of_director.pdf)
- [Please find enclosed herewith a copy of the Press Release on the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/KEC_02112026211750_SE_intimation_PressRelease.pdf)
- [KEC International Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/KEC_02112026212142_SE_Intimation_Investor_Presentation_Q2_FY27.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751523_02112026092640_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751525_02112026092732_WEB.xml)
- [KEC International Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2370_WebXMLFile_20261102_213332195.xml)

### Fundamentals

KEC International’s operating trajectory has shifted from growth to contraction in the September 2026 quarter, marked by a 10% year-on-year sales decline to ₹5,468 crore and a sharp drop in net profit to ₹30 crore. This follows strong performance in Sep 2025 (₹161 crore net profit), indicating a significant earnings inflection point. The quality of these earnings is under pressure: cash flow from operations turned negative (-₹414 crore for Mar 2026) despite positive operating profits, driven by widening debtor days (up to 101 days) and lower working capital efficiency.

Financial health shows rising leverage, with borrowings increasing to ₹6,305 crore as of Sep 2026, while equity grew modestly to ₹6,091 crore. Fixed assets expanded to ₹1,892 crore, suggesting ongoing capital expenditure. Shareholding patterns reveal institutional divergence: DIIs reduced their stake to 20.77%, and FIIs fell sharply to 8.69%, while promoters remained stable at 50.1%. The most critical checkpoint is whether management can reverse the cash conversion deterioration and stabilize margins in subsequent quarters, given the current negative CFO trend and rising receivables.

- Sales declined 10% YoY to ₹5,468 crore in Sep 2026, with net profit falling sharply to ₹30 crore from ₹161 crore in Sep 2025.
- Cash flow from operations turned negative (-₹414 crore for FY2026), contrasting with positive operating profits, signaling earnings quality concerns.
- Borrowings rose to ₹6,305 crore by Sep 2026, up from ₹3,957 crore in Mar 2025, reflecting increased leverage.
- Institutional ownership weakened: FIIs dropped to 8.69% and DIIs to 20.77% in Sep 2026, while promoters held steady at 50.1%.

### Bear Case

KEC International faces significant near-term headwinds, underscored by an 81.4% year-on-year plunge in Q2 FY27 consolidated net profit to ₹30 crore and a 10.2% revenue contraction to ₹5,468 crore. EBITDA fell sharply by 37%, driven by supply chain disruptions in the Middle East and land acquisition challenges in India. Despite securing a record order book of ₹39,946 crore, profitability pressures are evident, with brokerages like Nuvama downgrading estimates due to margin slippage and higher costs. The balance sheet carries a net debt of approximately ₹7,793 crore as of September 30, 2026, adding leverage risk during this earnings dip.

Market sentiment has deteriorated accordingly, with shares falling over 14% since November 3. Technical indicators reinforce this caution: the stock is trading at ₹332.9, well below key moving averages, with daily, weekly, and monthly Supertrend signals all reading bearish. The stock has suffered a massive drawdown, currently sitting -72.8% from its peak, with a maximum drawdown of -74.2%. Year-to-date returns stand at -54.9%, and the one-year return is -57.7%, indicating prolonged underperformance. While management cites a large tender pipeline for future recovery, the immediate operational and financial metrics present a clear picture of stress.

- Q2 FY27 Net Profit collapsed 81.4% YoY to ₹30 crore, with Revenue shrinking 10.2% to ₹5,468 crore and EBITDA falling 37% due to geopolitical and land-acquisition disruptions.
- Net Debt stands at ~₹7,793 crore (Sept 30, 2026), raising concerns over leverage amidst margin slippage and rising costs noted by analysts.
- Technical setup is broadly bearish across daily, weekly, and monthly timeframes; the stock is down 14% since Nov 3 and trades at ₹332.9.
- Long-term performance remains weak with a current drawdown of -72.8%, YTD return of -54.9%, and a 1-year return of -57.7%.

- [Buy KEC International; target of Rs 365: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-kec-international-target-of-rs-365-motilal-oswal-14069262.html)
- [KEC International: Order book strong, margins and debt are of concern](https://www.moneycontrol.com/news/business/moneycontrol-research/kec-international-order-book-strong-margins-and-debt-are-of-concern-14068841.html)
- [Buy KEC International; target of Rs 406: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/earnings/buy-kec-international-target-of-rs-406-prabhudas-lilladher-14068859.html)
- [KEC International under pressure since Q2 earnings; management outlook and brokerages' views](https://www.businesstoday.in/markets/stocks/story/kec-international-under-pressure-since-q2-earnings-management-outlook-and-brokerages-views-565555-2026-11-04)
- [KEC International Faces A Tough Q2 FY27 As Earnings Take A Heavy Hit, Net Profit Plunges 81% To Just ₹30 Crore While Revenue Shrinks 10%](https://www.freepressjournal.in/business/kec-international-faces-a-tough-q2-fy27-as-earnings-take-a-heavy-hit-net-profit-plunges-81-to-just-30-crore-while-revenue-shrinks-10)
- [Please find enclosed herewith copies of newspaper advertisements published regarding Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KEC_04112026152248_SEintimation.pdf)
- [Audio Recording of the Earnings Conference Call held today i.e. November 03, 2026, at 10:00 a.m. (IST), for the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026, has been made available on the Company's website. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/KEC_03112026175244_SE_Intimation.pdf)
- [KEC INTERNATIONAL LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261103_175943537.xml)
- [The Unaudited Financial Results for the quarter and half year ended September 30, 2026, along with the Limited Review Reports of the Statutory Auditors are enclosed. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KEC_02112026210430_SE_intimation_BM_outcome_Results.pdf)
- [The Board of Directors of the Company at its meeting held today i.e. November 02, 2026, inter alia, approved the appointment of Mr. Anant Vardhan Goenka as an Additional Director (Non-Executive, Non-Independent) effective November 02, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/KEC_02112026211334_SE_Intimation_Appointment_of_director.pdf)

### FAQs

**Why did KEC International's shares fall sharply after the Q2 FY27 results?**

Shares declined over 14% following the November 3, 2026 earnings release, which reported an 81.4% year-on-year plunge in net profit to ₹30 crore and a 10.2% revenue shrinkage to ₹5,468 crore. Management attributed these pressures to supply chain disruptions in the Middle East and land acquisition challenges in India.

**What is the current status of KEC's order book and debt levels?**

The company secured a record order book of ₹39,946 crore, signaling strong top-line potential. However, net debt stood at approximately ₹7,793 crore as of September 30, 2026. Brokerages like Moneycontrol Research highlight that while growth appears robust, profitability pressures and leverage remain key areas of focus for investors.

**How have brokerages reacted to KEC's recent performance?**

Views are mixed due to near-term headwinds. Motilal Oswal set a target of Rs 365 with a 'Buy' rating, while Prabhudas Lilladher issued a 'Buy' with a higher target of Rs 406. Conversely, Nuvama downgraded estimates and issued a 'REDUCE' rating citing margin slippage, whereas MOFSL maintained a 'BUY' call despite acknowledging higher costs.

**What technical indicators suggest about the stock's trend as of November 6, 2026?**

Technical trends are bearish across daily, weekly, and monthly timeframes, with Supertrend signals indicating downward pressure. The stock has fallen -57.7% over the past year and is currently trading at ₹332.90, reflecting a significant drawdown from its peak.

- [Buy KEC International; target of Rs 365: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-kec-international-target-of-rs-365-motilal-oswal-14069262.html)
- [KEC International: Order book strong, margins and debt are of concern](https://www.moneycontrol.com/news/business/moneycontrol-research/kec-international-order-book-strong-margins-and-debt-are-of-concern-14068841.html)
- [Buy KEC International; target of Rs 406: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/earnings/buy-kec-international-target-of-rs-406-prabhudas-lilladher-14068859.html)
- [KEC International under pressure since Q2 earnings; management outlook and brokerages' views](https://www.businesstoday.in/markets/stocks/story/kec-international-under-pressure-since-q2-earnings-management-outlook-and-brokerages-views-565555-2026-11-04)
- [KEC International Faces A Tough Q2 FY27 As Earnings Take A Heavy Hit, Net Profit Plunges 81% To Just ₹30 Crore While Revenue Shrinks 10%](https://www.freepressjournal.in/business/kec-international-faces-a-tough-q2-fy27-as-earnings-take-a-heavy-hit-net-profit-plunges-81-to-just-30-crore-while-revenue-shrinks-10)
- [Please find enclosed herewith copies of newspaper advertisements published regarding Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KEC_04112026152248_SEintimation.pdf)
- [Audio Recording of the Earnings Conference Call held today i.e. November 03, 2026, at 10:00 a.m. (IST), for the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026, has been made available on the Company's website. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/KEC_03112026175244_SE_Intimation.pdf)
- [KEC INTERNATIONAL LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261103_175943537.xml)
- [The Unaudited Financial Results for the quarter and half year ended September 30, 2026, along with the Limited Review Reports of the Statutory Auditors are enclosed. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KEC_02112026210430_SE_intimation_BM_outcome_Results.pdf)
- [The Board of Directors of the Company at its meeting held today i.e. November 02, 2026, inter alia, approved the appointment of Mr. Anant Vardhan Goenka as an Additional Director (Non-Executive, Non-Independent) effective November 02, 2026. |SUBJECT: Appointment](https://nsearchives.nseindia.com/corporate/KEC_02112026211334_SE_Intimation_Appointment_of_director.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹329.27
- Risk regime: Higher Price Risk

### Support levels
- 317.25
- 322.2333333333333
- 314.76666666666665

### Resistance levels
- 429.6
- 441.4
- 724

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.97% |
| return_10 | +1.57% |
| return_1m | -11.20% |
| return_1y | -57.70% |
| return_20 | -4.78% |
| return_3m | -30.31% |
| return_5 | +0.99% |
| return_6m | -43.33% |
| return_since_start | -72.27% |
| return_ytd | -54.91% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -74.15% |
| annualized_volatility | +40.91% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# KEC International Limited Q2 FY2026-27: Profit falls as revenue rises sequentially

KEC International’s consolidated revenue from operations rose 8.8% quarter on quarter to ₹5,468 crore in Q2 FY2026-27, but remained 10.2% below the year-earlier quarter. Profit before tax fell 54.5% sequentially to ₹40.9 crore, while profit for the period declined 59.0% to ₹29.7 crore.

## Revenue increases from Q1 but trails Q2 last year

Revenue from operations increased by ₹444 crore from ₹5,024 crore in Q1 FY2026-27. Expenses rose 10.0% quarter on quarter to ₹5,440 crore, faster than revenue. Revenue was ₹6,092 crore in Q2 FY2025-26; in the subsequent quarters it was ₹6,001 crore in Q3 FY2025-26 and ₹6,390 crore in Q4 FY2025-26.

## Profit declines; finance costs rise

Profit before tax was ₹40.9 crore, down from ₹89.9 crore in Q1 FY2026-27 and ₹213.0 crore in Q2 FY2025-26. Profit for the period fell to ₹29.7 crore from ₹72.6 crore sequentially and ₹160.8 crore a year earlier. Finance costs increased 16.2% quarter on quarter to ₹190.7 crore from ₹164.0 crore.

## Tax expense falls as current and deferred tax move in opposite directions

Total tax expense declined to ₹11.1 crore from ₹17.3 crore in Q1 FY2026-27. Current tax was a credit of ₹34.2 crore, compared with an expense of ₹35.0 crore in the prior quarter, while deferred tax was an expense of ₹45.3 crore, versus a credit of ₹17.7 crore.

## Balance-sheet positions at 30 September 2026

Equity stood at ₹6,091 crore at 30 September 2026, compared with ₹6,160 crore at 31 March 2026. Inventories increased to ₹1,693 crore from ₹1,533 crore, and non-current liabilities rose to ₹1,039 crore from ₹991 crore. Trade receivables declined to ₹5,610 crore from ₹6,474 crore, and trade payables fell to ₹7,571 crore from ₹8,703 crore. Cash and cash equivalents were ₹315 crore, compared with ₹411 crore at 31 March 2026.

## Other comprehensive income lifts total comprehensive income

Other comprehensive income was ₹111.8 crore in Q2 FY2026-27, compared with a loss of ₹7.8 crore in Q1. Total comprehensive income increased to ₹141.6 crore from ₹64.8 crore sequentially, while profit for the period was ₹29.7 crore.

## Key Takeaway

Revenue rose from Q1 FY2026-27, but profit contracted sharply and revenue remained below Q2 FY2025-26. Higher finance costs and inventories are notable alongside lower closing receivables and payables; stronger other comprehensive income lifted total comprehensive income, but did not change the quarter’s weak profit result.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +50.10%
- FII holding: +8.69%
- DII holding: +20.77%
- Mutual fund holding: +18.32%
- Retail holding: +16.14%
- Promoter pledged: +0.00%

### Major reported shareholders

- Swallow Associates LLP — +25.45% (Bodies Corporate)
- Summit Securities Limited — +10.58% (Bodies Corporate)
- Instant Holdings Limited — +8.38% (Bodies Corporate)
- HDFC Mutual Fund - HDFC BSE 500 Index Fund — +5.89%
- Nippon Life India Trustee Ltd-A/C Nippon India Nifty 500 Equal Weight Index Fund — +3.98%
- Bandhan Nifty Small Cap 250 Index Fund — +2.05%
- Harshvardhan  Goenka — +1.89%
- STEL Holdings Limited — +1.88% (Bodies Corporate)
- DSP Large & Mid Cap Fund — +1.52%
- ICICI Prudential S&P BSE 500 ETF — +1.33%

## Official filings

- 2026-11-07 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_07112026143922_SEIntimation_Newspaper.pdf)
- 2026-11-06 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_06112026155134_SE_Intimation_Transcript.pdf)
- 2026-11-06 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261106_155452936.xml)
- 2026-11-06 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_06112026181927_SEPostalBallotIntimation.pdf)
- 2026-11-06 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_2370_WebXMLFile_20261106_183254753.xml)
- 2026-11-04 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_04112026152248_SEintimation.pdf)
- 2026-11-03 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_03112026175244_SE_Intimation.pdf)
- 2026-11-03 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261103_175943537.xml)
- 2026-11-02 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_02112026210430_SE_intimation_BM_outcome_Results.pdf)
- 2026-11-02 — Management Change: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_02112026211334_SE_Intimation_Appointment_of_director.pdf)
- 2026-11-02 — Press Release: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_02112026211750_SE_intimation_PressRelease.pdf)
- 2026-11-02 — Earnings Presentation: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_02112026212142_SE_Intimation_Investor_Presentation_Q2_FY27.pdf)
- 2026-11-02 — Financial Results Filing: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751523_02112026092640_WEB.xml)
- 2026-11-02 — Financial Results Filing: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751525_02112026092732_WEB.xml)
- 2026-11-02 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2370_WebXMLFile_20261102_213332195.xml)
- 2026-10-26 — Board Meeting Notice: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_26102026153310_Board_Meeting_pre-Intimation.pdf)
- 2026-10-26 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_26102026153531_SE_Intimation_Investors_Call.pdf)
- 2026-10-26 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2370_WebXMLFile_20261026_153907942.xml)
- 2026-10-26 — Board Meeting Notice: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2370_WebXMLFile_20261026_153725126.xml)
- 2026-10-26 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2370_WebXMLFile_20261026_153725126.xml)
- 2026-10-24 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_24102026093524_PressRelease.pdf)
- 2026-10-24 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2370_WebXMLFile_20261024_153902681.xml)
- 2026-10-23 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_23102026124809_PressRelease.pdf)
- 2026-10-23 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2370_WebXMLFile_20261023_144002946.xml)
- 2026-10-16 — Generic Announcement: KEC International Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/KEC_16102026155628_SEintimation.pdf)

## News and market events

- 2026-11-04 — MONEYCONTROL: **Buy KEC International; target of Rs 365: Motilal Oswal** — Motilal Oswal has issued a 'Buy' recommendation for KEC International, setting a target price of Rs 365. The brokerage's note suggests potential upside for investors in the infrastructure and energy sector company. — [Source](https://www.moneycontrol.com/news/business/buy-kec-international-target-of-rs-365-motilal-oswal-14069262.html)
- 2026-11-04 — MONEYCONTROL: **KEC International: Order book strong, margins and debt are of concern** — Moneycontrol Research highlights that KEC International maintains a strong order book, but expresses concern regarding the company's margins and debt levels. The analysis suggests that while top-line growth appears robust, profitability pressures and leverage remain key areas of focus for investors. — [Source](https://www.moneycontrol.com/news/business/moneycontrol-research/kec-international-order-book-strong-margins-and-debt-are-of-concern-14068841.html)
- 2026-11-04 — MONEYCONTROL: **Buy KEC International; target of Rs 406: Prabhudas Lilladher** — Prabhudas Lilladher has issued a 'Buy' recommendation for KEC International, setting a target price of Rs 406. This financial advice is attributed to the brokerage firm as reported by Moneycontrol. — [Source](https://www.moneycontrol.com/news/business/earnings/buy-kec-international-target-of-rs-406-prabhudas-lilladher-14068859.html)
- 2026-11-04 — BUSINESSTODAY: **KEC International under pressure since Q2 earnings; management outlook and brokerages' views** — KEC International's shares have fallen over 14% since November 3 after the company reported a sharp decline in Q2 FY27 earnings, driven by supply chain disruptions in the Middle East and land acquisition challenges in India. Brokerages Nuvama and MOFSL downgraded their estimates due to margin slippage and higher costs, with Nuvama issuing a 'REDUCE' rating while MOFSL maintained a 'BUY' call despite near-term headwinds. Management anticipates improved performance in coming quarters supported by a large tender pipeline and declining net debt, though analysts view the expected second-half revenu — [Source](https://www.businesstoday.in/markets/stocks/story/kec-international-under-pressure-since-q2-earnings-management-outlook-and-brokerages-views-565555-2026-11-04)
- 2026-11-03 — FREEPRESSJOURNAL.IN: **KEC International Faces A Tough Q2 FY27 As Earnings Take A Heavy Hit, Net Profit Plunges 81% To Just ₹30 Crore While Revenue Shrinks 10%** — KEC International reported an 81.4% year-on-year decline in Q2 FY27 consolidated net profit to ₹30 crore, with revenue shrinking 10.2% to ₹5,468 crore and EBITDA falling 37%. The company attributed the earnings pressure to geopolitical disruptions, supply chain issues, and land acquisition challenges, despite securing a record order book of ₹39,946 crore. Net debt stood at approximately ₹7,793 crore as of September 30, 2026. — [Source](https://www.freepressjournal.in/business/kec-international-faces-a-tough-q2-fy27-as-earnings-take-a-heavy-hit-net-profit-plunges-81-to-just-30-crore-while-revenue-shrinks-10)
- 2026-11-03 — CNBC-TV18: **KEC International cuts FY27 revenue growth guidance to 8-10% as West Asia conflict hits business** — KEC International has revised its FY27 revenue growth guidance down to 8-10% from 10-15%, citing an estimated ₹500-600 crore in lost revenue due to the prolonged West Asia conflict. Managing Director Vimal Kejriwal stated that second-half margin improvement will depend on the conversion of new orders, including recent Power Grid contracts, and the settlement of cost escalation claims related to increased fuel expenses. The company also lowered its full-year order inflow target to approximately ₹28,000 crore while reporting a Q2 profit after tax of ₹29 crore. — [Source](https://www.cnbctv18.com/market/earnings/kec-international-cuts-fy27-revenue-guidance-q2-results-west-asia-crisis-alpha-article-20025541.htm)
- 2026-11-03 — MONEYCONTROL: **Price Action: Jupiter Wagons gains 2% on order win; KEC International slides 7% after weak Q2 earnings** — Jupiter Wagons shares gained 2% following an order win, while KEC International stock slid 7% due to weak second-quarter earnings. — [Source](https://www.moneycontrol.com/news/business/markets/price-action-jupiter-wagons-gains-2-on-order-win-kec-international-slides-7-after-weak-q2-earnings-14066855.html)
- 2026-10-26 — BUSINESSTODAY: **GIFT Nifty up 33 points; Infosys, Kotak Bank, TMCV, IndusInd Bank, Vedanta among top stocks in focus** — Indian equity markets are set for a positive but cautious start to the new week on Friday amid mixed global sentiments and elevated crude oil prices. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/gift-nifty-up-33-points-infosys-kotak-bank-tmcv-indusind-bank-vedanta-among-top-stocks-in-focus-563529-2026-10-26)
- 2026-10-26 — MONEYCONTROL: **KEC International shares in focus on transmission lines orders from Power Grid** — KEC International shares in focus on transmission lines orders from Power Grid Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Tonbo Imaging share price UP Elections iPhone Duo Elon Musk Annamalai Piyush Goyal Donald Trump Sonam Wangchuk News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to 50 Lakhs Credit Ca — [Source](https://www.moneycontrol.com/news/business/markets/kec-international-shares-in-focus-on-transmission-lines-orders-from-power-grid-14059401.html)
- 2026-10-26 — The Hindu: **Stocks to watch, Oct 26: Raymond, RailTel, KEC Intl, Honasa, BL Kashyap, Lupin, Orchid Pharma, Gland Pharma among 15 stocks to remain in focus** — Markets in focus: a mix of M&A, contract wins, regulatory updates and new product launches across 15 stocks, from Ray­mond’s rebrand to Lupin’s FDA observation and Orchid Pharma’s Latin American licensing deal. — [Source](https://www.thehindubusinessline.com/markets/stocks-to-watch-oct-26-raymond-railtel-kec-intl-honasa-bl-kashyap-lupin-orchid-pharma-gland-pharma-among-15-stocks-to-remain-in-focus/article71624286.ece)
- 2026-10-25 — Mint: **KEC International shares in focus on Monday Oct 28 after  ₹2872 cr PGCIL order win; YTD orders mark crosses  ₹13.5k cr** — KEC International secured ₹2,872 crore in turnkey orders from Power Grid Corporation for 765 kV transmission lines linked to evacuating 8.5 GW of renewable energy in Gujarat. The wins mark a record for its domestic T&D business and take year-to-date order intake above ₹13,500 crore. — [Source](https://www.livemint.com/market/stock-market-news/kec-international-shares-in-focus-on-monday-oct-28-after-rs-2872-cr-pgcil-order-win-ytd-orders-mark-crosses-rs-13-5k-cr-11792904618194.html)
- 2026-10-24 — The Hindu: **KEC International bags orders worth ₹2,872 cr from Power Grid Corporation of India** — KEC International secures ₹2,872 crore PGCIL orders for 765 kV lines, boosting YTD orders to over ₹13,500 crore, including ₹9,500 crore in T&D. — [Source](https://www.thehindubusinessline.com/companies/kec-international-bags-orders-worth-2872-cr-from-power-grid-corporation-of-india/article71619466.ece)
- 2026-10-24 — Economic Times: **KEC International bags Rs 2,872 crore PGCIL orders for 765 kV transmission lines** — KEC International has secured orders worth ₹2,872 crore from Power Grid Corporation of India Ltd for 765 kV transmission lines. These contracts involve the design, supply, and installation of the high-voltage lines. The latest wins have contributed to a significant year-to-date order intake surpassing ₹13,500 crore for the company. This includes a major contribution from the Transmission and Distribution division amounting to ₹9,500 crore. — [Source](https://economictimes.indiatimes.com/industry/energy/power/kec-international-bags-2872-crore-pgcil-orders-for-765-kv-transmission-lines/articleshow/135165563.cms)
- 2026-10-24 — CNBC-TV18: **KEC International wins ₹2,872 crore orders from Power Grid, its largest India T&D order** — The orders are linked to the evacuation of 8.5 GW of renewable energy from Gujarat and take KEC International’s year-to-date order intake beyond ₹13,500 crore. — [Source](https://www.cnbctv18.com/market/kec-international-wins-%25e2%2582%25b92872-crore-orders-from-power-grid-its-largest-india-td-order-20018466.htm)
- 2026-10-23 — Economic Times: **KEC International bags new orders worth over Rs 1,000 cr** — KEC International has announced that it has secured new orders valued at Rs 1,006 crore. These include orders for a 400 kV transmission line and supply of towers in Oman and the Americas. Additionally, the civil business received a repeat order for constructing a multispeciality hospital in Eastern India. The cables and conductors segment has also secured orders in India and abroad. — [Source](https://economictimes.indiatimes.com/industry/energy/power/kec-international-bags-new-orders-worth-over-rs-1000-cr/articleshow/135143636.cms)
- 2026-10-09 — CNBC-TV18: **These three capital goods stocks surged up to 7% after upgrades from Kotak Institutional Equities** — Kotak said the Thermax stock trades at 35 times its estimated financial year 2028 earnings, which it finds attractive, given its expectations of a 16% revenue compound annual growth rate (CAGR) over financial year 2026-2029. — [Source](https://www.cnbctv18.com/market/thermax-cesc-kec-international-share-price-kotak-upgrade-rationale-target-upside-capacity-orders-valuations-20008253.htm)
- 2026-10-09 — BUSINESSTODAY: **NCC, KEC International shares surge up to 6% on fresh order wins** — NCC, KEC International shares, NCC shares rise, KEC International shares gain, KEC order wins — [Source](https://www.businesstoday.in/markets/stocks/story/ncc-kec-international-shares-surge-up-to-on-fresh-order-wins-560583-2026-10-09)
- 2026-10-05 — CNBC-TV18: **Green Energy Corridor Phase 3: KEC, Transformers & Rectifiers see ₹23,500 crore order opportunity** — Vimal Kejriwal, MD & CEO of KEC International and Satyen Mamtora, MD & CEO of Transformers and Rectifiers (India) expect sizeable new business from the third phase of India's renewable energy transmission expansion, with tighter project timelines potentially supporting margins. — [Source](https://www.cnbctv18.com/business/companies/kec-international-transformers-rectifiers-order-opportunity-green-energy-corridor-1-86-lakh-crore-rupees-opportunity-alpha-article-20004473.htm)
- 2026-10-01 — CNBC-TV18: **PM Dhara Scheme Unveiled - These stocks could be the likely beneficiaries** — Power Grid will be another potential beneficiary of this scheme, along with cables and power companies such as KEI Industries, Polycab, and others due to their Medium Voltage Power Cables (MV), and Extra High Voltage (EHV) power cables capabilities. — [Source](https://www.cnbctv18.com/market/pm-dhara-scheme-likely-beneficiaries-power-grid-ge-vernova-power-grid-polycab-cap-goods-share-price-capex-timeline-objectives-20002551.htm)
- 2026-09-15 — BUSINESS: **Shares tumble as rising oil prices and bond yields intensify pressure** — The key equity benchmarks ended sharply lower on Tuesday, reversing early gains. Rising crude oil prices and higher US Treasury yields weighed on sentiment. The sell-off intensified as investors awaited the US Federal Reserve's policy decision on Wednesday. The Fed is widely expected to raise interest rates by 25 basis points. — [Source](https://www.business-standard.com/markets/capital-market-news/shares-tumble-as-rising-oil-prices-and-bond-yields-intensify-pressure-126091500871_1.html)
- 2026-09-15 — BUSINESS: **Sensex settles 778 pts lower; Nifty ends below 23,150** — As per provisional closing data, the S&P BSE Sensex tanked 777.94 points or 1.04% to 74,003.82. The Nifty 50 index lost 279.50 points or 1.19% to 23,118.60. — [Source](https://www.business-standard.com/markets/capital-market-news/sensex-settles-778-pts-lower-nifty-ends-below-23-150-126091500741_1.html)
- 2026-09-15 — Economic Times: **KEC International shares rally 6% after securing new orders worth Rs 1,303 crore across multiple business segments** — KEC International shares rallied after the company secured Rs 1,303 crore of new orders across transmission and distribution and cables and conductors businesses. The latest wins take its year-to-date order intake above Rs 7,600 crore, supporting its growth outlook. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/kec-international-shares-rally-6-after-securing-new-orders-worth-rs-1303-crore-across-multiple-business-segments/articleshow/134253441.cms)
- 2026-09-15 — BUSINESS: **KEC International rises after bagging orders worth Rs 1,303 crore** — KEC International added 1.24% to Rs 411.50 after the company said that it has secured new orders of Rs 1,303 crore across various businesses. — [Source](https://www.business-standard.com/markets/capital-market-news/kec-international-rises-after-bagging-orders-worth-rs-1-303-crore-126091500283_1.html)
- 2026-09-15 — Mint: **KEC International, Coforge shares jump up to 5% - What's behind the surge** — KEC International shares surged over 5% following new orders worth  ₹1,303 crore, covering projects in India, the Middle East, and Americas. Coforge shares gained 2.4% after board committee changes, prompted by the resignation of an independent director. — [Source](https://www.livemint.com/market/stock-market-news/kec-international-coforge-shares-jump-up-to-5-whats-behind-the-surge-11789446308266.html)
- 2026-09-15 — MONEYCONTROL: **Price Action: HDFC Bank up 3% as board submits two CEO candidates to RBI; Solar Industries sheds 8%** — Buzzing Stocks — [Source](https://www.moneycontrol.com/news/business/markets/price-action-hdfc-bank-up-3-as-board-submits-two-ceo-candidates-to-rbi-solar-industries-sheds-8-14029861.html)

## Business profile

**Strategic vision:** Global EPC major delivering infrastructure projects across sectors.

### Business segments
- **Power Transmission & Distribution:** This unit provides integrated turnkey solutions for Transmission Lines and substations, including Air Insulated Substations (AIS), Gas Insulated Substations (GIS), and Hybrid Substations.
- **Railways:** KEC International undertakes turnkey railway construction projects, encompassing civil infrastructure, tracks, signaling & telecommunication, and railway electrification.
- **Civil & Urban Infrastructure:** This segment is involved in the turnkey construction of a range of civil projects such as factories, residential and public spaces, metros, data centers, warehouses, and water pipelines.
- **Oil & Gas Pipelines:** The company constructs cross-country oil and gas pipelines and develops city gas distribution networks.
- **Cables:** KEC International manufactures various types of cables, including power, instrumentation & control, telecom, and railway cables.

### Competitive strengths
- Global presence in over 110 countries
- Expertise in delivering integrated turnkey solutions across multiple infrastructure sectors

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/kec
Markdown representation: https://faxioms.com/stocks/kec?render=md