KEC International Q4 Review - Steady Performance Amid Challenges: ICICI Direct
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ICICI Direct Report
KEC International Ltd. reported a steady set of Q4 FY21 numbers.
The topline came in at Rs 4,360.5 crore, up 18.8% YoY, (above our estimate of Rs 4,053.9 crore) aided by strong growth in non-transmission and distribution.
Overall, transmission and distribution contributed 51% followed by railways (28%), civil (11%) and cable (8%) to revenues.
Ebitda margins came in at 8.1% (below our estimate of 8.9%), down 200 basis points YoY mainly impacted by execution headwinds in SAE (Brazil) and commodity prices, while absolute Ebitda came in at Rs 354.5 crore, down 4.4% YoY.
Profti after tax came in at Rs 194.3 crore, almost flat YoY.
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