KEC International has gone past Rs 39,000-crore mark so far in FY27. The infrastructure engineering, procurement and construction (EPC) company has also bagged additional orders in its T&D and cables & conductors businesses, which will also help sustain its FY27 growth outlook.
The company’s recent order wins come at a time when infrastructure investments, power transmission needs and cross-border energy projects continue to be key growth drivers for EPC companies.
KEC International order book crosses Rs 39,000 crore-
KEC International’s order book has scaled beyond Rs 39,000 crore so far in FY27, in addition to the Letter of Intent (LoI) for almost Rs 3,000 crore, which takes the total order book position and LoI positioning to above Rs 40,000 crore. The company also has a tender pipeline of over Rs 2 lakh crore, providing revenue visibility for future orders.
The strong order position is especially important for KEC’s Transmission & Distribution business as it remains a key contributor to the overall order pipeline. As of June 2026, the T&D order book with the LoI was greater than Rs 25,000 crore.
KEC International bags Rs 1,303 crore new orders-
KEC International has announced new orders worth Rs 1,303 crore across its T&D and Cables & Conductors businesses as of September 14. The T&D orders comprise projects across India, the Middle East and the US, including a 400kV transmission line project in North India, 380kV transmission line projects in Saudi Arabia and the supply of towers, hardware and poles in the US. Simultaneously, KEC’s Cables & Conductors business has secured follow-on orders in the domestic and international markets.
Following this, the company said, its year-to-date order intake had crossed Rs 7,600 crore.
Transmission and distribution-
T&D continued to be the key growth driver- T&D continues to be the lynchpin of KEC’s order growth strategy. Growing electricity demand, the drive towards renewables and integration, and the need to improve power transfer efficiency are boosting T&D investments.
KEC’s latest international wins also reflect the company’s increased emphasis on non-India markets. It is establishing a track record in markets including Saudi Arabia and the Americas, in addition to its deep experience in India, and creating new opportunities across the infrastructure spectrum.
Its business, which is present across more than 110 countries, spans power transmission and distribution, civil infrastructure, transportation, renewables, oil and gas pipelines, and cables & conductors.
KEC International maintains FY27 revenue growth guidance-
Despite challenges surrounding project execution, KEC International has retained its FY27 revenue growth guidance in the range of 12-15%. The company has indicated that execution and margins should see gradual improvement, with more meaningful growth likely from the third quarter. However, geopolitical disruption (especially in the Middle East), labour challenges and delays in completed project closures continue to be headwinds.
In FY27 first quarter, KEC posted consolidated revenue of Rs 5,024 crore and PAT of Rs 73 crore, with an EBITDA of Rs 291 crore and an EBITDA margin of 5.8%.
KEC International order inflows and FY27 outlook-
Management continues to focus on increasing order inflows, domestically and internationally. Earlier commentary suggested orders in FY27 to be around Rs 30,000 crore with the T&D business making a large share.
The company’s increasing order book, LoI positioning and tender pipeline could translate into a sizeable execution momentum going forward. At the same time, orders from large tenders and execution momentum will be key factors for KEC’s performance.
What does the rising order book mean for KEC-
In an EPC context, a strong order book indicates a future pipeline of project execution and revenue. KEC’s crossing Rs 39,000-crore mark for its order book, inclusion of LoI of more than Rs 3,000 crore, and tender pipeline of over Rs 2 lakh crore, suggests the company has a large pipeline of revenue on its hands.
However, growth in order book alone does not guarantee the company’s revenue and EBITDA performance. Execution schedules, project costs, working capital needs, raw material prices, labour, and geopolitical disruptions can affect realized revenue and EBITDA margins. KEC’s efforts to scale down debt and strengthen working capital are bearing fruit.
As of June 30, 2026, its net debt (including acceptances) had declined by more than Rs 150 crore from March 31, 2026 levels to Rs 6,568 crore; its net working capital (NWC) at 134 days was also stable.
With orders from T&D, Cables and Conductors coming in, KEC enters the next phase of FY27 with a sizeable order book and further scope of infrastructure business orders, domestically and internationally. At the same time, the pace of conversion of revenue visibility to orders and project execution will be a key focus.
