macro

KEC: record T&D orders support growth plans as Q2 margins and cash flow weaken

KEC's Q2 revenue rose 9% quarter on quarter, but margins and cash flow came under pressure, while record T&D orders back 8%–10% FY27 growth guidance, per TradingView.

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what happened

KEC's second-quarter revenue rose 9% from the previous quarter, but margins and cash flow were squeezed by Middle East disruption, project closures and delayed customer payments, according to TradingView.

A record order book, led mainly by transmission and distribution work, supports guidance for 8%–10% revenue growth in fiscal 2027. The company is targeting net debt of INR 6,000 crore by the end of the year.

why it matters

For investors there are two competing signals here: a strong order book and a debt reduction goal, set against weak conversion of revenue into cash. Collection timing and a recovery in Middle East operations will be key to delivering the forecast.

tags

instruments

KEC InternationalINR

sources

  1. KEC: Record T&D-led orders underpin growth plans as disruption and working capital weigh on Q2 results — TradingView, 3 November 2026 at 07:41 UTC

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