KEC · Construction
Kec International Ltd. reported revenue of ₹4,949 cr for July to September 2025, — on the year and — on the quarter.
Operating profit (EBITDA) was ₹308 cr, a margin of 6.2%, — on the year and — on the quarter.
Net profit was ₹106 cr, — on the year and — on the quarter, with earnings per share of ₹3.97.
Real estate revenue is booked when projects complete, so the quarterly statements lag the business; pre-sales and collections show where it actually is. The quarterly statements do not carry pre-sales, collections and launches; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Metric | Q2 FY26 |
|---|---|
| EPC Segment Revenue (₹ crore) | 5,711 |
| Others (Cables) Segment Revenue (₹ crore) | 524.17 |
| EPC Segment Result (₹ crore) | 398.26 |
| Others (Cables) Segment Result (₹ crore) | 32.15 |
| Debt Equity Ratio (ratio) | 0.94 |
| Operating Margin Excl Exceptional Items | 7.07% |
| Net Profit Margin | 2.64% |
Read using the Real estate, REITs and InvITs framework (named in the filing read). Primary valuation lens: NAV for developers; distribution yield and NAV for REITs.
Read more closely in this sector: Pre-sales against collections · Land bought on debt · Joint development share.
| Q2 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|
| Revenue | ₹4,949 cr | ₹3,898 cr | ₹4,160 cr |
| YoY | — | — | −16% |
| EBITDA margin | 6.2% | 4.0% | 4.1% |
| Other income, % of PBT | 7% | 1,246% | 131% |
| Exceptional items | — | — | — |
| Tax rate | 22% | 61% | −6% |
| Net profit | ₹106 cr | ₹0.5 cr | ₹80.4 cr |
| YoY | — | — | −24% |
| Core profit YoY | — | — | −118% |
| EPS | ₹3.97 | ₹0.02 | ₹3.02 |
| Flags | · | 1 | 3 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Kec International Ltd. reported revenue of ₹4,949 cr (— on the year) and net profit of ₹106 cr (— on the year) for July to September 2025.
None of the 2 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.