KEC International Q2 FY27 Results: Consolidated Net Profit ₹29.74 Crore on Total Income of ₹5,481 Crore
- Earnings
- Engineering, procurement and construction
Reviewed byKeshav SehgalBlacklitt Research
KEC International (NSE: KEC) reported consolidated total income of ₹5,480.98 crore and net profit of ₹29.74 crore for the quarter ended 30 Sep 2026, down 81.5% on the year-earlier profit of ₹160.75 crore, it said in a filing on 02 Nov 2026. Standalone net profit for the quarter was ₹80.41 crore on total income of ₹4,259.05 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹5,480.98 crore, down 10.1% YoY and up 8.8% QoQ
- Net profit: ₹29.74 crore, down 81.5% YoY and 59.0% QoQ
- EPS: ₹1.12 basic, against ₹6.04 a year earlier
- Finance costs: ₹190.66 crore, up 11.2% YoY, 3.5% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹4,259.05 crore, down 14.1% YoY and up 8.8% QoQ
- Net profit: ₹80.41 crore, down 23.9% YoY
- EPS: ₹3.02 basic, against ₹3.97 a year earlier
- Other income: ₹98.60 crore, up 943.4% YoY, 2.3% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,480.98 | 6,096.19 | -10.1% | 5,037.48 | +8.8% | |
| Revenue from operations | 5,467.71 | 6,091.56 | -10.2% | 5,023.54 | +8.8% |
| Other income | 13.27 | 4.63 | +186.6% | 13.94 | -4.8% |
| 29.74 | 160.75 | -81.5% | 72.62 | -59.0% | |
| Profit before tax | 40.88 | 212.98 | -80.8% | 89.90 | -54.5% |
| Finance costs | 190.66 | 171.49 | +11.2% | 164.03 | +16.2% |
| Depreciation | 53.01 | 50.57 | +4.8% | 50.82 | +4.3% |
| Tax expense | 11.14 | 52.23 | -78.7% | 17.28 | -35.5% |
| Net profit margin | 0.54% | 2.64% | -2.09 pp | 1.44% | -0.90 pp |
| EPS, basic (₹) | 1.12 | 6.04 | -81.5% | 2.73 | -59.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell faster than income. Net profit dropped 81.5% year on year while total income fell 10.1%, and profit before tax fell 80.8%.
Finance costs rose 11.2% to ₹190.66 crore, and this is 3.5% of total income for the quarter. Against profit before tax of ₹40.88 crore, other income of ₹13.27 crore is 32.5% of the figure, and tax of ₹11.14 crore is 27.3% of profit before tax, so the tax charge takes a larger share of a much smaller base than a year ago.
The consolidated net profit margin is 0.54%, against 2.64% in the year-earlier quarter. The filing's Note 3 gives the consolidated debt equity ratio as 1.04, against 0.94 a year earlier. No exceptional item is shown for the quarter ended 30 Sep 2026; the ₹58.78 crore exceptional item appears only in the year ended 31 Mar 2026 column.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,259.05 | 4,957.98 | -14.1% | 3,915.05 | +8.8% | |
| Revenue from operations | 4,160.45 | 4,948.53 | -15.9% | 3,898.35 | +6.7% |
| Other income | 98.60 | 9.45 | +943.4% | 16.70 | +490.4% |
| 80.41 | 105.72 | -23.9% | 0.52 | n/a | |
| Profit before tax | 75.51 | 135.21 | -44.2% | 1.34 | n/a |
| Finance costs | 156.47 | 145.87 | +7.3% | 135.80 | +15.2% |
| Depreciation | 36.63 | 35.89 | +2.1% | 35.53 | +3.1% |
| Tax expense | -4.90 | 29.49 | n/a | 0.82 | n/a |
| Net profit margin | 1.89% | 2.13% | -0.24 pp | 0.01% | +1.87 pp |
| EPS, basic (₹) | 3.02 | 3.97 | -23.9% | 0.02 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 23.9% year on year, less than the 44.2% fall in profit before tax, and the tax line was a credit of ₹4.90 crore against a charge of ₹29.49 crore a year earlier.
Other income of ₹98.60 crore is 130.6% of standalone profit before tax of ₹75.51 crore. Finance costs rose 7.3% to ₹156.47 crore.
The standalone net profit margin is 1.89%, against 2.13% a year earlier, and standalone net worth is ₹5,251.75 crore at 30 Sep 2026 against ₹5,031.68 crore a year earlier, per Note 3.
Consolidated net profit of ₹29.74 crore is ₹50.67 crore lower than standalone net profit of ₹80.41 crore. Consolidated total income of ₹5,480.98 crore is ₹1,221.93 crore higher than standalone total income. The filing does not state the reasons for the gap between the two natures.
Both natures carry the same auditor's note on a government agency investigation: a chargesheet has been filed, the Court has taken cognizance, and the auditors say the possible impact is not determinable. The company says the case involves one PSU official and an employee of the Company in connection with a transmission project, is sub-judice, and will not have any material impact on operations and financial results. The auditors' conclusion is not modified in respect of the matter.
Inference
The filing reports the board's approval of the results on 02 Nov 2026 and the auditors' limited review, which is not modified. Consolidated results cover 39 branches, 34 jointly controlled operations and 16 subsidiaries.
The filing does not give the amount or timing of any financial outcome from the government agency investigation, and it does not state a dividend or record date for the period.
Filed with BSE on . Reference: Original filing (PDF)
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