Interim report
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KEC KEC INTERNATIONAL LTD . RPG House 463 , Dr. Annie Besant Road Worli , Mumbai 400030 , India +91 22 66670200 kecindia@kecrpg.com www.kecrpg.com August 10 , 2026 National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra ( East ) , Mumbai 400 051 Symbol : KEC BSE Limited Phiroze Jeejeebhoy Towers Dalal Street , Fort Mumbai 400 001 Scrip Code : 532714 Sub .: Outcome of Board Meeting - Unaudited Financial Results for the quarter ended June 30 , 2026 Dear Sir / Madam , In terms of Regulation 30 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , we wish to inform that the Board of Directors of the Company , at its meeting held today i.e. on Monday , August 10 , 2026 , inter alia , unanimously approved the Unaudited Consolidated and Standalone Financial Results of the Company for the quarter ended June 30 , 2026 . The abovesaid Unaudited Financial Results along with the Limited Review Report of the Statutory Auditors thereon are enclosed herewith . The Board Meeting commenced at 01:30 p.m. and concluded at 05:30 p.m. Kindly take the same on your records . Thanking you , Yours faithfully , For KEC International Limited Suraj Eksambekar Company Secretary and Compliance Officer Encl : as above Registered Office : RPG House , 463 , Dr. Annie Besant Road Worli , Mumbai 400030 , CIN : L45200MH2005PLC152061 , India . An RPG Company
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Price Waterhouse Chartered Accountants LLP To The Board of Directors KEC International Limited RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai 400 030 1. We have reviewed the consolidated unaudited financial results of KEC International Limited (the "Holding Company"), which includes 41 branches, 34 jointly controlled operations consolidated on a proportionate basis and its 16 subsidiaries (the Holding Company, its branches, jointly controlled operations and its subsidiaries hereinafter referred to as the "Group") (refer Annexure A), for the quarter ended June 30, 2026, which are included in the accompanying 'Statement of Consolidated Unaudited Financial Results for ilie Quarter ended June 30, 2026' (the "Statement"). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") read with Part B of Chapter XVII - 'Listing of Commercial Paper' of the SEBI Operational Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as updated, which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements ('SRE') 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by ilie SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of the branches, jointly controlled operations, and subsidiaries listed in AnnexureA 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of ilie review reports of the other auditors referred to in paragraph 7 and 8 below, nothing has come to our attention that causes us to believe iliat the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations, 2015 read with Part B of Chapter XVII - 'Listing of Commercial Paper' of the SEBI Operational Circular SEBI/HO/DDHS/P /CIR/2021/613 dated August 10, 2021, as updated, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 6 to the consolidated financial results regarding an investigation by a government agency, who has filed a chargesheet and the Court has taken cognizance of the same. Pending completion of ilie proceedings, the possible impact, if any, on the consolidated financial results is currently not determinable. Our conclusion on the Statement is not modified in respect of ilie above matter. Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T:+91(22)61197810 Registered office and Head office: II-A, Vishnu Digamber Marg, Sucheta Bhawau, Gate No 2. New Delhi - 110002 Price Waterhouse (a Partuership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partuership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its !CAI registration number is 012754N/N500016 (!CAI registration number before conversion was 012754N)
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Price Waterhouse Chartered Accountants LLP 7. The interim financial information of 39 branches and 34 jointly controlled operations consolidated on a proportionate basis reflect total revenue from operations of Rs. 1,241.48 crores, profit after tax (net) of Rs. 110.59 crores, total comprehensive income (comprising of profit after tax (net) and other comprehensive income (net)) of Rs. 113.54 crores for the quarter ended June 30, 2026, as considered in the Statement. These interim financial information of these branches and jointly controlled operations have been reviewed by the branch auditors and other auditors and their reports vide which they have issued an unmodified conclusion on those interim financial information have been furnished to us by the Holding Company's Management or branch auditors or other auditors, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these branches and jointly controlled operations, is based on the reports of such branch auditors and other auditors and the procedures performed by us as stated in paragraph 3 above. The interim financial information of 11 subsidiaries reflect total revenue from operations of Rs. 521.94 crores, profit after tax (net) of Rs. 33.96 crores, total comprehensive income ( comprising of profit after tax (net) and other comprehensive loss (net)) of Rs. 33.11 crores for the quarter ended June 30, 2026, as considered in the Statement. These interim financial information have been reviewed by other auditors and their reports vide which they have issued an unmodified conclusion on those financial information, have been furnished to us by the Holding Company's Management or other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of ilie above matters. 8. The interim financial information of 2 branches and 4 subsidiaries incorporated outside India reflect total revenue from operations of Rs. 401.30 crores, profit after tax (net) of Rs. 34.04 crores, total comprehensive income ( comprising of profit after tax (net) and other comprehensive loss (net)) of Rs. 33.20 crores for the quarter ended June 30, 2026, as considered in the Statement. The interim financial information of the said branches and subsidiaries have been prepared in accordance with accounting principles generally accepted in their country of incorporation which have been reviewed by the branch auditors and other auditors, and upon which the branch auditors and other auditors vide their review report have issued an unmodified conclusion. The Holding Company's Management has converted the interim financial information of the said branches and subsidiaries from the accounting principles generally accepted in their respective country of incorporation to the accounting principles generally accepted in India. We have reviewed these conversion adjustments, if any, made by the Holding Company's Management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the said branches and subsidiaries is based on the review report of the branch auditors and other auditors and the conversion adjustments prepared by the Holding Company's Management as reviewed by us and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. Place: Mumbai Date: August 10, 2026 For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 SUMIT SHASHIKANT SETH SumitSeth Partner Digitally signed by SUMIT SHASHIKANT SETH Date: 2026.08.1 0 17:14:03 +05'30' Membership Number: 105869 UDIN: 26105869HDEIQW6450
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Price Waterhouse Chartered Accountants LLP AnnexureA List of Branches: Abu Dhabi, Afghanistan, Algeria, Annenia, Bangladesh, Benin, Burkina Faso, Bhutan, Burundi, Cameroon, Dubai, Egypt, Ethiopia, Georgia, Ghana, Guinea, Ivory Coast, Jordan, Kenya, Kuwait, Libya, Malaysia, Mali, Moldova, Mozambique, Morocco, Nepal, Nigeria, Oman, Papua New Guinea, Philippines, Sri Lanka, Sierra Leone, Senegal, South Africa, Tanzania, Thailand, Togo, Tunisia, Uganda and Zambia. List of Jointly Controlled Operations consolidated: SrNo. Jointly Controlled Operations 1 Al-Sharif Group and KEC Ltd Company, Saudi Arabia 2 KEC-ASIAKOM-UB JV 3 KEC-ASIAKOM JV 4 KEC-DELCO-VARAHAJV !; KEC-V ARAHA-KHAZANA JV 6 KEC-V ALECHA-DELCO JV 7 KEC-SIDHARTH JV 8 KEC-TRIVENI-KPIPL-JV 9 KEC-UNIVERSAL-JV 10 KEC-DELCO-DUSTAN-JV 11 KEC-ANPR-KPIPL JV 12 KEC-PLR-KPIPL JV 13 KEC-BJCLJV 14 KEC-KIELJV 15 KEC-ABEPL JV 16 KEC-TNR INFRA JV 17 KEC-SMCJV 18 KEC-WATERLEAU JV 19 KEC-ASSBJV 20 KEC-CCECC (Railway) RRTS 21 KEC-CCECC (Civil) Kochi Metro 22 CCECC KEC JV (Civil) Delhi Metro 2:l Lonciian KEC JV 24 MBPL-KECJV 25 VNC KEC JV (Railway) 26 HCC- KEC Consortium 27 KEC-VNC Consortium 28 KEC-SPMLJV 29 KEC VNC JV (Civil) 30 SPML Infra Limited in JV with KEC International Limited 31 KEC-VNC JV (Railway) CMRL :l2 KEC-EMRAIL JV (Railway) MMRDA 33 VNC-KEC-EMRAIL JV (Railway) GMRC '14 KEC-TCL SHILLONG ROPEWAY JV
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Price Waterhouse Chartered Accountants LLP List of Subsidiaries SrNo. Subsidiaries 1 KEC Power India Private Limited 2 RPG Transmission Nigeria Limited 3 KEC Investment Holdings 4 SAE Towers Holdings LLC 5 SAE Towers Brazil Subsidiary Company LLC 6 SAE Towers Mexico Subsidiarv Holding Comoanv LLC 7 SAE Towers Mexico S de RL de CV 8 SAE Towers Brasil Torres de Transmissao Ltda. 9 SAE Prestadora de Servicios Mexico, S de RL de CV 10 SAE Towers Ltd. 11 KEC Engineering & Construction Services S de RL de CV 12 KEC International (Malaysia) SDN. BHD. 13 KEC Towers LLC 14 KECEPCLLC l!, KEC Sour Infrastructure Private Limited 16 KEC Asian Cables Limited
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KEC International Limited CIN - L45200MH2005PLC152061 Registered Office • RPG House 463 Dr Annie Besant Road W orli Mumbai - 400 030 Statement of Consolidated Unaudited Financial Results for the Quarter ended June 30, 2026 Particulars 1 Revenue from operations 2 Other income 3 Total Income (1+2) 4 Expenses (i) Cost of materials consumed (ii) Changes in inventories of finished goods, work-in-progress (iii) Erection and sub-contracting expenses (iv) Employee benefits expense (v) Finance costs (vi) Depreciation and amortisation expense (vii) Other expenses Total expenses 5 Profit before exceptional items and tax (3-4) 6 Exceptional Items 7 Profit after exceptional items and before tax (5-6) 8 Tax expenses : (i) Current Tax (ii) Deferred Tax Total Tax Expense 9 Profit for the period (7-8) 10 Other Comprehensive Income/(loss) (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss (iii) Items that will be reclassified to profit or loss (iv) Income tax relating to items that will be reclassified to profit or loss 11 Total Other Comprehensive lncome/(Loss) for the period 12 Total Comprehensive Income for the period (9+11) 13 Paid-up equity share capital (face value Rs. 2/- each) 14 Other Equity 15 Basic/ Diluted Earnings Per Share (in Rupees) attributable to owners (face value Rs. 2/- each) (not annualised except for the year ended March) See accompanying notes forming part of the Consolidated Financial Results Notes: Quarter ended June 30, March 31, June 30, 2026 2026 2025 (Unaudited) (Refer note 7) (Unaudited) 5,023.54 6,389.75 5,022.88 13.94 30.09 5.39 5,037.48 6,419.84 5,028.27 2,247.46 3,109.93 2,460.81 (154.70) (74.14) (215.25) 1,726.14 1,986.52 1,631.04 430.88 426.46 392.37 164.03 169.85 151.12 50.82 50.58 45.86 482.95 492.91 403.81 4,947.58 6,162.11 4,869.76 89.90 257.73 158.51 - - - 89.90 257.73 158.51 35.00 92.08 22.93 (17.72) (27.14) 10.98 17.28 64.94 33.91 72.62 192.79 124.60 (1.16) (7.92) (1.99) 0.14 1.24 0.44 (9.49) 426.45 63.24 2.67 (75.57) (10.90) (7.84) 344.20 50.79 64.78 536.99 175.39 53.24 53.24 53.24 2.73 7.24 4.68 Rs. in Crore Year ended March 31, 2026 (Audited) 23,505.54 50.33 23,555.87 11,571.46 (325.32) 7,068.41 1,662.39 663.60 197.38 1,870.03 22,707.95 847.92 58.78 789.14 180.41 3.14 183.55 605.59 (6.02) 0.62 594.14 (98.85) 489.89 1,095.48 53.24 6,106.45 22.75 1 The above results of KEC International Limited, its branches, jointly controlled operations (the "Company") and its Subsidiaries (together referred to as "Group") were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 10, 2026. The Statutory Auditors of the Company have conducted a "Limited Review" of the above Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. 2 The above results of the Group have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and the other accounting principles generally accepted in India.
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3 Additional disclosures as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: The Company has unsecured Commercial Papers which are Listed on BSE Limited. Pursuant to SEBI Master Circular No. SEBI/HOIDDHSIDDHS PoD/P/CIR/2025/0000000137 dated October 15, 2025 , information to the extent applicable to Commercial Papers is given below: Sr. Particulars Quarter ended Year ended No. June 30, March 31, June 30, March 31, 2026 2026 2025 2026 (Unaudited) (Refer note 7) (Unaudited) (Audited) a Debt Eauitv Ratio 0.88 0.87 0.79 0.87 b Debt Service Covera2e Ratio 0.86 1.56 1.32 1.56 c) Interest Service Covera2e Ratio 1.77 2.43 2.13 2.15 dl Current Ratio 1.23 1.23 1.20 1.23 el Lon2 term debt to workin2 capital Ratio 0.27 0.27 0.22 0.27 f Bad debts to Account receivable Ratio A 0.01 0.05 0.00 0.02 " Current liabilitv Ratio 0.95 0.95 0.96 0.95 hl Total debts to Total assets Ratio 0.22 0.21 0.19 0.21 il Debtors Turnover Ratio /No. of Davs l 109 93 98 91 il Inventory Turnover Ratio (No. of Days] 56 37 41 36 kl Operatin2 Mar2in excludin2 exceptional item (% l 5.79 7.01 6.97 7.06 ll Net Profit Mar.,in /%1 1.45 3.02 2.48 2.58 ml Capital Redemption Reserve /Rs. in Crorel 14.28 14.28 14.28 14.28 nl Net Worth /Rs. in Crorel 5 754.67 5 682.05 5.347.46 5 682.05 ol Net Profit after Tax (Rs. in Crorel 72.62 192.79 124.60 605.59 ) Basic Earnings per Share (Rs.) (Not annualised except for the year P ended March] 2.73 7.24 4.68 22.75 A Ratios for the quarter have been annualised. Formula used for calculation of ratios in Note 3 is as under: i) Debt Equity Ratio= Total Debt (Short-Term Debt+Long-Term Debt+ Interest Accrued but not due+ Lease Liability)/ Total Equity. ii) Debt Service Coverage Ratio= [(Profit After Tax+ Exceptional item+ Depreciation and amortisations+ Interest+ Loss on sale of Fixed assets)/ (Finance Cost+ Repayment long term borrowings & Lease liability)]. iii) Interest Service Coverage Ratio= (Profit After Tax+ Exceptional item+ Depreciation and amortisations+ Interest+ Loss on sale of Fixed assets)/ Finance Cost. iv) Current Ratio= Current asset/Current liability. v) Long term debt to working capital Ratio= {(Long term loans including current maturities+ Long term lease liabilities)/ (Current Assets- Current Liabilities)}. vi) Bad debts to Account receivable Ratio= Total Bad Debts/Average Accounts Receivables vii) Current liability Ratio = Current Liabilities / Total Liabilities. viii) Total debts to Total assets Ratio= (Short-Term Debt+Long-Term Debt+ Interest Accrued but not due+ Lease Liability)/Total Assets. ix) Debtors Turnover Ratio= (Average Account Receivable/Total Revenue from operations) x No. of Days. x) Inventory Turnover Ratio= [Average Inventory/(Cost of material consumed+ Changes in inventories of finished goods, work-in-progress+ Erection and construction material consumed+Stores consumed)] x No. of Days. xi) Operating Margin= (Profit before Depreciation and Amortisation, finance costs, Tax less Other Income)/fotal Revenue from operations. xii) Net Profit Margin = Profit for the period /Total Revenue from operations. xiii) Net Worth= Share capital+ Other equity (excluding Other Comprehensive Income).
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4.The Chief Operating Decision Maker ("CODM") has identified Engineering, Procurement and Construction business ("EPC") and Cables business as the reportable segments as per IND AS 108 "Opertaing segments". These have been disclosed as follows: (a) Engineering, Procurement and Construction business : It comprises of infrastructure related projects, systems, products and related activities for power transmission and distribution, railways track laying, electrification, civil, urban infrastructure, oil and gas pipelines laying, etc. (b) Others: It comprises mainly cable business. Quarter ended Year ended Particulars June 30, March 31, June 30, March 31, 2026 2026 2025 2026 (Unaudited) (Refer note 7) (Unaudited) (Audited) (i) Segment revenue (Revenue from Operations) EPC 4,595.21 5,915.45 4,753.05 21,988.29 Others 600.67 753.95 382.78 2,216.70 Less: Inter-segment revenue (172.34) (279.65) (112.95) (699.45) Net Segment Revenue 5.023.54 6.389.75 5 022.88 23 505.54 (ii) Segment Results (before finance cost, depreciation and amortisation expense, other income and exceptional items) EPC 262.85 389.77 339.35 1,513.01 Others 27.96 58.30 10.75 145.56 Total Segment Results 290.81 448.07 350.10 1,658.57 Add/(less) : Other income 13.94 30.09 5.39 50.33 Finance cost (164 03) (169 85) (151.12) (663.60) Depreciation and amortisation expense (50.82) (50 58) (45.86) (197.38) Profit before exceptional item and tax 89.90 257.73 158.51 847.92 Exceptional items - - - 58.78 Profit after exceptional items and before tax 89.90 257.73 158.51 789.14 Less: Tax expense Current tax 35.00 92.08 22.93 180.41 Deferred tax (17.72) (27.14) 10.98 3.14 Profit for the neriod 72.62 192.79 124.60 605.59 (iii) Other segment information: 1. Se2ment assets EPC 23,037.28 23,275.25 21,334.26 23,275.25 Others 1,380.98 1,388.56 1,277.95 1,388.56 Unallocated 463.36 494.25 321.06 494.26 Total Se2ment Assets 24,881.62 25,158.06 22,933.27 25,158.07 2. Segment liabilities EPC 13,924.63 14,418.02 13,539.50 14,418.02 Others IJ24.07 IJ43.76 943.37 IJ43.76 Unallocated 3,696.71 3,436.58 2,922.59 3,436.60 Total Segment Liabilities 18,745.41 18,998.36 17,405.46 18,998.38 3. Other material expense items: (i) Cost of materials consumed EPC 1,837.39 2,816.65 2,092.81 10,381.00 Others 582.41 572.93 480.95 1,889.91 Less: lnter-seement cost (172.34) (279 65) (112.95) (699.45) Total Cost of materials consumed 2,247.46 3,109.93 2,460.81 11,571.46 (ii) Erection and sub-contracting expenses EPC 1,726.14 1,986.52 1,631.02 7,068.38 Others - - 0.02 0.03 Less: lnter-seement cost - - - - Total Erection and sub-contracting expenses 1,726.14 1,986.52 1,631.04 7,068.41
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5 Information of Standalone Financial Results of the Company is as under: - Rs in Crore Quarter ended Year ended Particulars June 30, March 31, June 30, March 31, 2026 2026 2025 2026 (Unaudited) (Refer note 7) (Unaudited) (Audited) A I Revenue from ooerations 3 898.35 5 260.02 4 029.94 19 046.58 B I Profit before exceotional items and tax 1.34 128.93 49.75 417.71 C I Profit after excentional items and tax 0.52 246.56 36.83 428.10 6 In the matter relating to an investigation by a government agency in connection with a transmission project, involving one Public Sector Undertaking ("PSU") official and an employee of the Company, the Chargesheet has been filed and the Court has taken cognizance of the same. The matter is presently sub-judice. The Company upholds the highest standards of corporate governance, ethics, and compliance in all its operations and conducts its business with integrity, transparency, and adherence to applicable laws and regulations. The Company is of the view that the case will not have any material impact on the operations and financial results of the Company. 7 The figures for the quarter ended March 31, 2026 are balancing figures between the audited figures in respect of the full financial year ended on March 31, 2026 and the unaudited published year to date figures up to third quarter ended on December 31, 2025, which were subjected to limited review by the Statutory Auditors. 8 The Group has opted to publish Extract of Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. The Consolidated and Standalone Unaudited Financial Results for the quarter ended June 30, 2026 of the Company prepared in accordance with Regulations 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be available on the website of the Company, BSE Limited and National Stock Exchange of India Limited. The Statutory Auditors have digitally signed this Consolidated Unaudited Financial Results for identification purpose only and this Consolidated Unaudited Financial Results should be read in conjunction with our Limited Review Report dated August 10, 2026 SUMIT SHASHIKANT SETH Place : Mumbai Date : August 10, 2026 Digitally signed by SUMIT SHASHIKANT SETH Date: 2026.08.1017:17:19 +05'30' Visit us at www .kecrpg.com For KEC INTERNATIONAL LIMITED Digitally signed by Vimalkumar Vimalkumar Ramballabh :;~1labh Kejriwal ~;:~;:~~2:0~~3~~ VIMAL KEJRIWAL MANAGING DIRECTOR & CEO DIN - 00026981
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Price Waterhouse Chartered Accountants LLP To The Board of Directors KEC International Limited RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai 400 030 1. We have reviewed the standalone unaudited financial results of KEC International Limited (the "Company"), which includes 41 branches and 34 jointly controlled operations consolidated on a proportionate basis (refer Annexure A) for ilie quarter ended June 30, 2026, which are included in the accompanying 'Statement of Standalone Unaudited Financial Results for the Quarter ended June 30, 2026' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015") read with Part B of Chapter XVII 'Listing of Commercial Paper' of the SEBI Operational Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as updated, which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance wiili Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of the branches and jointly controlled operations listed in Annexure A. 5. Based on our review conducted as above and procedures performed as stated in paragraph 3 above and based on the consideration of review reports of the branch auditors and other auditors referred to in paragraph 7 and 8 below, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations, 2015 read with Part B of Chapter XVII - 'Listing of Commercial Paper' of the SEBI Operational Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as updated, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 4 to ilie standalone financial results regarding an investigation by a government agency, who has filed a chargesheet and the Court has taken cognizance of the same. Pending completion of the proceedings, the possible impact, if any, on the standalone financial results is currently not determinable. Our conclusion on the Statement is not modified in respect of the above matter. Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T:+91(22)61197810 Registered office and Head office: II-A, Vishnu Digamber Marg, Sucheta Bhawau, Gate No 2. New Delhi - 110002 Price Waterhouse (a Partuership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partuership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its !CAI registration number is 012754N/N500016 (!CAI registration number before conversion was 012754N)
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Price Waterhouse Chartered Accountants LLP 7. The interim financial information of 39 branches and 34 jointly controlled operation consolidated on a proportionate basis reflect total revenue from operations of Rs. 1,241.48 crores, profit after tax (net) of Rs. 110.59 crores, total comprehensive income (comprising of profit after tax (net) and other comprehensive income (net)) of Rs. 113.54 crores for the quarter ended June 30, 2026, as considered in the Statement. These interim financial information of these branches and jointly controlled operations have been reviewed by the branch auditors and other auditors and their reports vide which they have issued an unmodified conclusion on those interim financial information have been furnished to us by the Company's Management or branch auditors or other auditors, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these branches and jointly controlled operations, is based on the report of such branch auditors and other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. 8. The interim financial information of 2 branches incorporated outside India reflect total revenue from operations of Rs. Nil, loss after tax (net) of Rs. 0.25 crores, total comprehensive loss (comprising of loss after tax (net) and other comprehensive loss (net)) of Rs. 0.25 crores for the quarter ended June 30, 2026, as considered in the Statement. The interim financial information of the said branches has been prepared in accordance with accounting principles generally accepted in their country of incorporation which have been reviewed by the branch auditors, and upon which the branch auditors vide their review report have issued an unmodified conclusion. The Company's Management has converted the interim financial information of the said branches from the accounting principles generally accepted in their respective country of incorporation to the accounting principles generally accepted in India. We have reviewed these conversion adjustments, if any, made by the Company's Management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the said branches are based on the review report of the branch auditors and the conversion adjustments prepared by the Company's Management as reviewed by us and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. Place: Mumbai Date: August 10, 2026 For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 SUMIT SHASHIKANT SETH SumitSeth Partner Digitally signed by SUMIT SHASHIKANT SETH Date: 2026.08.10 17:13:01 +05'30' Membership Number: 105869 UDIN: 26105869QRTPHR7354
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Price Waterhouse Chartered Accountants LLP AnnexureA List of Branches: Abu Dhabi, Afghanistan, Algeria, Armenia, Bangladesh, Benin, Burkina Faso, Bhutan, Burundi, Cameroon, Dubai, Egypt, Ethiopia, Georgia, Ghana, Guinea, Ivory Coast, Jordan, Kenya, Kuwait, Libya, Malaysia, Mali, Moldova, Mozambique, Morocco, Nepal, Nigeria, Oman, Papua New Guinea, Philippines, Sri Lanka, Sierra Leone, Senegal, South Africa, Tanzania, Thailand, Togo, Tunisia, Uganda and Zambia. List of Jointly Controlled Operations consolidated: SrNo. Jointly Controlled Operations 1 Al-Sharif Group and KEC Ltd Company, Saudi Arabia 2 KEC-ASIAKOM-UB JV ~ KEC-ASIAKOM JV 4 KEC-DELCO-V ARAHA JV 5 KEC-V ARAHA-KHAZANA JV 6 KEC-V ALECHA-DELCO JV 7 KEC-SIDHARTH JV 8 KEC-TRIVENI-KPIPL-JV 9 KEC-UNIVERSAL-JV 10 KEC-DELCO-DUSTAN-JV 11 KEC-ANPR-KPIPL JV 12 KEC-PLR-KPIPLJV 13 KEC-BJCLJV 14 KEC-KIELJV 15 KEC-ABEPL JV 16 KEC-TNR INFRA JV 17 KEC-SMCJV 18 KEC-WATERLEAU JV 19 KEC-ASSBJV 20 KEC-CCECC (Railwav) RRTS 21 KEC-CCECC (Civil) Kochi Metro 22 CCECC KEC JV (Civil) Delhi Metro 23 Longiian KEC JV 24 MBPL-KECJV 25 VNC KEC JV (Railway) 26 HCC- KEC Consortium 27 KEC-VNC Consortium 28 KEC-SPMLJV 29 KEC VNC JV (Civil) 30 SPML Infra Limited in JV with KEC International Limited 31 KEC-VNC JV (Railway) CMRL 32 KEC-EMRAIL JV (Railway) MMRDA 33 VNC-KEC-EMRAIL JV (Railway) GMRC 'ILi KEC-TCL SHILLONG ROPEWAY JV
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KEC International Limited CIN - L45200MH2005PLC152061 Registered Office : RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400 030 Statement of Standalone Unaudited Financial Results for the Quarter ended June 30, 2026 Quarter ended Particulars June 30, March 31, 2026 2026 June 30, 2025 {Unaudited) (Refer note 6) {Unaudited) 1 Revenue from operations 2 Other income 3 Total Income (1+2) 4 Expenses (i) Cost of materials consumed (ii) Changes in inventories of finished goods, work-in-progress (iii) Erection and sub-contracting expenses (iv) Employee benefits expense (v) Finance costs (vi) Depreciation and amortisation expense (vii) Other expenses Total expenses 5 Profit before exceptional items and tax (3-4) 6 Exceptional Items 7 Profit after exceptional items and before tax (5-6) 8 Tax expenses : (i) Current Tax (ii) Deferred Tax Total Tax Expense 9 Profit for the period (7-8) 10 Other Comprehensive Income/(Loss) (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss (iii) Items that will be reclassified to profit or loss (iv) Income tax relating to items that will be reclassified to profit or loss 11 Total Other Comprehensive Income/(Loss) for the period 12 Total Comprehensive Income/(loss) for the period (9+11) 13 Paid-up equity share capital (face value Rs. 2/- each) 14 Other Equity 15 Basic / Diluted Earnings Per Share (in Rupees) attributable to owners (face value Rs. 2/- each) (not annualised except for the year ended March) See accompanying notes forming part of the Standalone Financial Results Notes: 3,898.35 5,260.02 4,029.94 16.70 33.81 8.51 3,915.05 5,293.83 4,038.45 1,458.25 2,514.42 1,760.51 (8.74) (83.97) (43.18) 1,666.41 1,924.14 1,539.12 287.05 279.30 277.40 135.80 142.34 123.41 35.53 35.78 32.30 339.41 352.89 299.14 3,913.71 5,164.90 3,988.70 1.34 128.93 49.75 - (166.00) - 1.34 294.93 49.75 27.37 68.80 12.21 (26.55) (20.43) 0.71 0.82 48.37 12.92 0.52 246.56 36.83 (1.58) (7.69) (1.78) 0.40 1.27 0.34 (14.51) 213.95 29.53 5.76 (48.84) (6.96) (9.93) 158.69 21.13 (9.41) 405.25 57.96 53.24 53.24 53.24 0.02 9.26 1.38 Rs. in Crore Year ended March 31, 2026 (Audited) 19,046.58 63.93 19,110.51 8,906.21 (138.08) 6,728.81 1,133.54 559.68 140.33 1,362.31 18,692.80 417.71 (113.71) 531.42 122.20 (18.88) 103.32 428.10 (6.19) 0.78 293.73 (61.72) 226.60 654.70 53.24 5,452.72 16.08 1 The above results of KEC International Limited, its branches and jointly controlled operations (together referred to as "Company") were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 10, 2026. The Statutory Auditors of the Company have conducted a "Limited Review" of the above Standalone Unaudited Financial Results for the quarter ended June 30, 2026. 2 The above results of the Company have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and the other accounting principles generally accepted in India.
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3 Additional disclosures as per Regulation 52( 4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: The Company has unsecured Commercial Papers which are Listed on BSE Limited. Pursuant to SEBI Master Circular No. SEBI/HO/DDHS/DDHS PoD/P/CIR/2025/0000000137 dated October 15, 2025, information to the extent applicable to Commercial Papers is given below: Sr. Quarter ended Year ended No. Particulars June 30, March 31, June 30, March 31, 2026 2026 2025 2026 (Unaudited) (Refer note 6) (Unaudited) (Audited) a) Debt Equity Ratio 0.83 0.84 0.71 0.84 b) Debt Service Coverage Ratio 0.96 1.81 1.33 1.60 c) Interest Service Coverage Ratio 1.29 2.11 1.57 1.87 d) Current Ratio 1.20 1.20 1.18 1.20 e) Long term debt to working capital Ratio 0.18 0.17 0.11 0.17 f) Bad debts to Account receivable Ratio" 0.01 0.07 - 0.02 2) Current liability Ratio 0.97 0.97 0.98 0.97 h) Total debts to Total assets Ratio 0.21 0.21 0.19 0.21 i) Debtors Turnover Ratio (No. of Days) 117 96 103 96 j) Inventory Turnover Ratio (No. of Days) 37 22 25 23 k) Operating Margin excluding exceptional item(%) 4.00 5.19 4.89 5.53 I) Net Profit Margin(%) 0.01 4.69 0.91 2.25 m) Capital Redemption Reserve (Rs. in Crore) 14.28 14.28 14.28 14.28 n) Net Worth (Rs. in Crore) 5,317.77 5,317.24 5,072.40 5,317.24 o) Net Profit after Tax (Rs. in Crore) 0.52 246.57 36.83 428.09 p) Basic Earnings per Share (Rs.) (Not annualised except for the year 0.02 9.26 1.38 16.08 ended March) A Ratios for the quarter have been annualised. Formula used for calculation of ratios in Note 3 is as under: i) Debt Equity Ratio= Total Debt (Short-Term Debt+Long-Term Debt+ Interest Accrued but not due+ Lease Liability)/ Total Equity. ii) Debt Service Coverage Ratio= [(Profit After Tax+ Exceptional item+ Depreciation and amortisations+ Interest+ Loss on sale of Fixed assets)/ (Finance Cost+ Repayment long term borrowings & Lease liability)]. iii) Interest Service Coverage Ratio= (Profit After Tax +Exceptional item+Depreciation and amortisations+ Interest+ Loss on sale of Fixed assets)/ Finance Cost. iv) Current Ratio = Current asset/Current liability. v) Long term debt to working capital Ratio= {(Long term loans including current maturities + Long term lease liabilities) / (Current Assets - Current Liabilities)}. vi) Bad debts to Account receivable Ratio= Total Bad Debts/Average Accounts Receivables vii) Current liability Ratio= Current Liabilities/ Total Liabilities. viii) Total debts to Total assets Ratio= (Short-Term Debt+Long-Term Debt+ Interest Accrued but not due+ Lease Liability)/Total Assets. ix) Debtors Turnover Ratio= (Average Account Receivable/Total Revenue from operations) x No. of Days. x) Inventory Turnover Ratio= [Average Inventory/(Cost of material consumed + Changes in inventories of finished goods, work-in-progress + Erection and construction material consumed+Stores consumed)] x No. of Days. xi) Operating Margin = (Profit before Depreciation and Amortisation, finance costs, Tax less Other Income)/Total Revenue from operations. xii) Net Profit Margin= Profit for the period /Total Revenue from operations. xiii) Net Worth= Share capital+ Other equity (excluding Other Comprehensive Income). 4 In the matter relating to an investigation by a government agency in connection with a transmission project, involving one Public Sector Undertaking ("PSU") official and an employee of the Company, the Chargesheet has been filed and the Court has taken cognizance of the same. The matter is presently sub-judice. The Company upholds the highest standards of corporate governance, ethics, and compliance in all its operations and conducts its business with integrity, transparency, and adherence to applicable laws and regulations. The Company is of the view that the case will not have any material impact on the operations and financial results of the Company. 5 Since the segment information as per Ind AS 108 - Operating Segments is provided on the basis of Consolidated Financial Results, the same is not provided separately for the Standalone Financial Results. 6 The figures for the quarter ended March 31, 2026 are balancing figures between the audited figures in respect of the full financial year ended on March 31, 2026 and the unaudited published year to date figures up to third quarter ended on December 31, 2025, which were subjected to limited review by the Statutory Auditors. 7 The Company has opted to publish the Extract of the Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. The Consolidated and Standalone Unaudited Financial Results for the quarter ended June 30, 2026 of the Company prepared in accordance with Regulations 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be available on the website of the Company, BSE Limited and National Stock Exchange of India Limited. The Statutory Auditors have digitally signed this Standalone Unaudited Financial Results for identification purpose only and this Standalone Unaudited Financial Results should be read in conjunction with our Limited Review Report dated August 10, 2026 Digitally signed by SUMIT SUMIT SHASHIKANT SETH SH ASH I KANT SETH Date: 2026.oa.1 o 17:16:28 +05'30' Place : Mumbai Date : August 10, 2026 Visit us at www.kecrpg.com For KEC INTERNATIONAL LIMITED VimalkumarDigitallysigned by Vimalkumar Ramballabh Ramballabh Kejriwal Date: 2026.08.1 0 Kejriwal 16:54:34 +05'30' VIMAL KEJRIW AL MANAGING DIRECTOR & CEO DIN - 00026981