Q2-FY26 · Vimal Kawal
Headline numbers are improving. We said from 6.3 we have gone up to 7.1 and we are still looking at reaching our 8% for the year which means around 8.8 or 8.9 for the balance H2.
KEC / language trends
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KEC International · tone and specificity signals across the available quarters.
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Language signals
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Q2-FY26 · Vimal Kawal
We have significantly enhanced our bottom line with a remarkable PBT growth of 88% in both Q2 and H1. We have achieved a PAT of Rs 161 crores in Q2 and Rs 285 crores in H1. The growth in PBT and PAT continues to outpace EBITDA growth.
Q2-FY26 · Vimal Kawal
We have a well-diversified and strong order book of over Rs 39,000 crores as on date including the L1 position. Our order book and L1 stands at a record level of Rs 44,000 crores.
Q2-FY26 · Vimal Kawal
I don't think we are looking at increasing our debt beyond this, not in our plans... we expect that [debt] to be a peak debt. It has started to come down.
Q2-FY26 · Vimal Kawal
There is clearly RO issue. There's no question about it... The problem is that they [transmission lines] are not getting completed because of RO.
Q3-FY26 · Vimal K. Shah
We had to tell you that this is what is happening. So we had to downgrade our estimates. When we said 8% we were very confident that we'll achieve 8%. But now seeing what has happened and the delay in some of the projects, a double-digit margin project now if it's not executing, that's impacting some of the newer projects.
Q3-FY26 · Vimal K. Shah
I think what is happening is that we have been honestly very unhappy with the delays in the closure. We were expecting that gradually projects will get closed. What is happening is we take a project and we expect that the project will be closed because the client has agreed for de-scoping a part which is not executable now. The client comes back and says no no I want you to execute, so you are stuck there for another 6 months.
Q3-FY26 · Vimal K. Shah
If you're looking at 9 to 10% then I can always say FY28. I need to clean up that entire closure of all the projects of mainly more of railways and also some part of the metro projects which are there which are now getting commissioned. I think by FY28 will definitely be at whatever number we are talking about.
Q3-FY26 · Vimal K. Shah
In transmission we have been having a success ratio between 10 to 15%. Okay. And for other businesses it would actually be lower. Renewable would be much lower than that and civil is also so we would look at maybe somewhere around 30-35,000 crores should be our order intake target for next year.