India's KEC International hits 3-year low after quarterly profit fall

KEC International

18/05/2026 06:31

** Shares of KEC International KECL.NS slide 8.9% to 499.7 rupees, lowest since May 2023

** Engineering & construction firm posts 28.1% decline in March-quarter consol profit at 1.93 billion rupees ($20.04 million); rev from ops falls 7% to 63.9 billion rupees

** Investec ("Buy": PT: 849 rupees) says while revenue declined due to supply chain issues and labour shortages caused by Middle East conflict, execution remained strong across T&D business

** Flags increase in net debt due to spillover of some collections, higher inventory from delayed dispatches in Dubai, inventory build-up due to volatile steel prices and muted collections in water business

** Stock rated as "Buy" on average by 20 analysts, median PT at 832 rupees - LSEG-compiled data

** YTD, stock down 32.2%

($1 = 96.3000 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))