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KEC International: Financial performance | Quarter & year ended 31st March 2022

May 04, 2022

KEC International Ltd., a global infrastructure EPC major and an RPG Group Company, announced its results for the fourth quarter (Q4 FY22) and full year (FY22) ended March 31, 2022.

Consolidated Financial Performance:

*FY22 v/s FY21 (Excluding Exceptional Item)**	Q4 FY22 v/s Q4 FY21
Revenue: Rs. 13,742 crore against Rs. 13,114 crore	Revenue: Rs. 4,275 crore against Rs. 4,361 crore
EBITDA: Rs. 904 crore against Rs. 1,141 crore	EBITDA: Rs. 252 crore against Rs. 355 crore
EBITDA Margin: 6.6% against 8.7%	EBITDA Margin: 5.9% against 8.1%
Interest as % to Revenue: 2.3% against 2.0%	Interest as % to Revenue: 2.2% against 1.4%
PBT: Rs. 443 crore against Rs. 756 crore	PBT: Rs. 118 crore against Rs. 266 crore
PBT Margin: 3.2% against 5.8%	PBT Margin: 2.8% against 6.1%
PAT: Rs. 363 crore against Rs. 553 crore	PAT: Rs. 112 crore against Rs. 194 crore
PAT Margin: 2.6% against 4.2%	PAT Margin: 2.6% against 4.5%

*In Q2 FY22, there was an exceptional write-off of Rs 44 Cr against a legacy arbitration case in South Africa. Considering this impact, the PBT and PAT are as below:

FY22 v/s FY21 (Including Exceptional Item*)

PBT: Rs. 399 crore against Rs. 756 crore

PBT Margin: 2.9% against 5.8%

PAT: Rs. 332 crore against Rs. 553 crore

PAT Margin: 2.4% against 4.2%

Standalone Financial Performance:

*FY22 v/s FY21 (Excluding Exceptional Items)**	*Q4 FY22 v/s Q4 FY21 (Excluding Exceptional Items)**
Revenue: Rs. 12,573 crore against Rs. 11,852 crore	Revenue: Rs. 3,878 crore against Rs. 4,101 crore
EBITDA: Rs. 1,129 crore against Rs. 1,232 crore	EBITDA: Rs. 282 crore against Rs. 409 crore
EBITDA Margin: 9.0% against 10.4%	EBITDA Margin: 7.3% against 10.0%
Interest as % to Revenue: 2.1% against 2.0%	Interest as % to Revenue: 2.0% against 1.4%
PBT: Rs. 756 crore against Rs. 897 crore	PBT: Rs. 177 crore against Rs. 328 crore
PBT Margin: 6.0% against 7.6%	PBT Margin: 4.6% against 8.0%
PAT: Rs. 565 crore against Rs. 646 crore	PAT: Rs. 145 crore against Rs. 230 crore
PAT Margin: 4.5% against 5.5%	PAT Margin: 3.7% against 5.6%

*In Q2 FY22, there was an exceptional write-off of Rs 44 Cr against a legacy arbitration case in South Africa and in Q4 FY22, there was an exceptional provision of Rs. 99 Cr, primarily towards impairment of subsidiary in SAE Brazil.

Considering the impact of these exceptional items, the PBT and PAT margins are as below:

*FY22 v/s FY21 (Including Exceptional Items)**	*Q4 FY22 v/s Q4 FY21 (Including Exceptional Items)**
PBT: Rs. 613 crore against Rs. 897 crore	PBT: Rs. 78 crore against Rs. 328 crore
PBT Margin: 4.9% against 7.6%	PBT Margin: 2.0% against 8.0%
PAT: Rs. 434 crore against Rs. 646 crore	PAT: Rs. 46 crore against Rs. 230 crore
PAT Margin: 3.5% against 5.5%	PAT Margin: 1.2% against 5.6%

Order Intake and Order Book:
Order Intake: Highest ever Order Intake of Rs. 17,203 crore, a stellar growth of 45% against last year
Order Book: Order Book as on 31 March 2022 of Rs. 23,716 crore, a robust growth of 24% YoY; L1 of over Rs. 4,000 crore

Dividend:
Recommended a Dividend of Rs. 4/- per equity share i.e. 200% of face value of Rs. 2/- each for FY22 – Total Outflow of Rs. 103 crore.

Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We have delivered a steady performance for the year. 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, in the face of challenging global headwinds and adverse commodity prices. 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. With the softening of commodity prices recently, thrust on execution, robust order book + L1 of over Rs 28,000 crore and a strong tender pipeline, we are confident of an improved performance going forward.”

CT Bureau