KEC International has made the transcript of its earnings conference call available for public access. The call, held on August 11, 2026, covered the company’s unaudited financial results for the first quarter of fiscal year 2027 (Q1FY27), which ended on June 30, 2026. This release provides stakeholders with a detailed written record of management’s commentary and responses to analyst queries during the session.

The transcript is now accessible on the company’s official website at https://www.kecrpg.com/earning-call-transcripts . This update follows two prior communications: the initial dispatch of the financial results letter dated August 3, 2026, and the subsequent announcement regarding the availability of the audio recording dated August 11, 2026. The sequential release ensures comprehensive transparency and compliance with regulatory disclosure norms.

Call Details

Regulatory Compliance

The communication was issued by Suraj Eksambekar, Company Secretary and Compliance Officer of KEC International Limited. Dated August 14, 2026, the notice serves as a formal record for investors and regulators, confirming that the transcript is available for public access. The disclosure aligns with regulatory requirements for the National Stock Exchange of India Limited and BSE Limited, ensuring that all material information from the earnings call is preserved in written form for stakeholder reference. No specific financial figures were disclosed in this particular announcement, as it pertains solely to the availability of the transcript rather than the numerical results themselves.

KEC International management has shared a comprehensive set of forward-looking guidance during its latest concall, covering margin trajectory, order inflow targets, working capital improvement, revenue growth, and debt reduction plans. While no specific margin guidance was provided for FY27, management anticipates improvement from Q3 onwards, with high single-digit margins potentially achievable by FY28. The T&D business margins are expected to remain double-digit or very close to it.

Margin Outlook and Revenue Growth Guidance

Management has maintained its FY27 revenue growth guidance of 12% to 15%, acknowledging potential slight variations due to geopolitical factors. Stronger execution is expected in Q3 and Q4, supported by a robust order book and an L1 position of over ₹40,000 crores. On the margin front, the earlier guidance of EBITDA margins in the range of 7.5% to 8% has been supplemented by the expectation of improvement from Q3 onwards, with high single-digit margins potentially achievable by FY28.

Order Inflows and T&D Pipeline

KEC International targets ₹30,000 crores in order inflows for FY27, with 60% to 70% expected from the T&D business. International markets are projected to contribute ₹9,000 crores to ₹10,000 crores, a significant portion of which will come from West Asia. Management had previously highlighted a domestic T&D bidding pipeline of ₹1 lakh crore, underscoring the scale of addressable opportunities in the infrastructure segment.

Working Capital and Debt Reduction

On the balance sheet front, management aims to reduce net debt by approximately ₹1,200 crores in FY27, targeting ₹5,500 crores by March FY27 from ₹6,700 crores at the beginning of the year. Key expected collections supporting this target include ₹300 crores from Afghanistan, ₹300 crores to ₹400 crores from water projects, and ₹150 crores to ₹200 crores from claims in railways. Additionally, the company expects to achieve 110 working capital days by the end of FY27, an improvement from the previously targeted 120 days by September.

The combination of a strong domestic T&D bidding pipeline, disciplined debt reduction plans, and a clear revenue growth trajectory reflects KEC International's focus on capitalising on infrastructure opportunities while improving operational and financial efficiency.