ICICI Direct: KEC International Delivers All-Round Q2 Performance
KEC International Ltd. transmission towers (image: Company website)

ICICI Direct: KEC International Delivers All-Round Q2 Performance

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

KEC International Ltd. reported a decent set of Q2 FY21 numbers that were better than our estimates on the revenue front led by better execution in the non-transmission and distribution segment while T&D segment stayed flat.

However, margins saw some impact on the back of higher than expected operating cost.

The company’s year-to-date order inflow came in at Rs 4366 crore, up 16%, YoY.

Recognition of Covid-19 expenses, higher contracting expenses and forex loss in Brazilian projects led Ebitda margins to come in a tad below expectations.

Click on the attachment to read the full report:

ICICI Direct KEC International Q2FY21 Result Update.pdf

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