KEC International Limited

11%

NDED 30 SEPTEMBER 2023 KEC delivers Strong growth in Revenue and Profitability Revenue grows by 11% in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to

18%

BER 2023 KEC delivers Strong growth in Revenue and Profitability Revenue grows by 11% in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 P

54%

ng growth in Revenue and Profitability Revenue grows by 11% in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 7

50%

evenue and Profitability Revenue grows by 11% in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Hea

170 bps

rows by 11% in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Healthy Order Book + L1 of over Rs. 35,000

6.1%

in Q2 and 18% in H1 EBITDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Healthy Order Book + L1 of over Rs. 35,000 crore

148%

TDA grows by 54% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Healthy Order Book + L1 of over Rs. 35,000 crore Mumbai, November 1, 2023:

77%

% in Q2 and 50% in H1; EBITDA Margin expands by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Healthy Order Book + L1 of over Rs. 35,000 crore Mumbai, November 1, 2023: KEC Internatio

Rs. 35,000 crore

by 170 bps to 6.1% in Q2 PBT grows by 148% in Q2 and 77% in H1 Healthy Order Book + L1 of over Rs. 35,000 crore Mumbai, November 1, 2023: KEC International Ltd., a global infrastructure EPC major and an RPG Gr

Rs. 4,499 crore

2023. Consolidated Financial Performance: Q2 FY24 v/s Q2 FY23 H1 FY24 v/s H1 FY23 Revenue: Rs. 4,499 crore against Rs. 4,064 crore Revenue: Rs. 8,743 crore against Rs. 7,382 crore EBITDA: Rs. 274 crore

Rs. 4,064 crore

nancial Performance: Q2 FY24 v/s Q2 FY23 H1 FY24 v/s H1 FY23 Revenue: Rs. 4,499 crore against Rs. 4,064 crore Revenue: Rs. 8,743 crore against Rs. 7,382 crore EBITDA: Rs. 274 crore against Rs. 178 crore

Rs. 8,743 crore

Y24 v/s Q2 FY23 H1 FY24 v/s H1 FY23 Revenue: Rs. 4,499 crore against Rs. 4,064 crore Revenue: Rs. 8,743 crore against Rs. 7,382 crore EBITDA: Rs. 274 crore against Rs. 178 crore EBITDA: Rs. 519 crore again

“The Company cannot guarantee that these assumptions and expectations are accurate or exhaustive or will be realised.”

“2 1 Overview – RPG Group & KEC International Hon’ble Prime Minister, Shri Narendra Modi, inaugurated the Priority Section, between Sahibabad to Duhai, of India's first RRTS project KEC is proud to have developed the Sahibabad & Ghaziabad Stations, Viaduct, and Duhai Depot for this first-of-its-kind regional connectivity project 3 RPG Group: Powered by Passion, Driven by Ethics UNLEASHTALENT TOUCHLIVES OUTPERFORM AND ☺ RPG Enterprises was founded in 1979.”

“750 Cr - Subdued owing to increase in competition from Tier II/ III EPC contractors and clientele changing from PSUs to Zonal Railways • Commenced execution of the international railway project in Bangladesh Oil & Gas Solar Cables • Revenues of Rs.”

“• Execution in progress of our largest solar project of 500 MW in Karnataka • Actively engaged in bidding for select opportunities in this sector, capitalizing on the the government to promote renewable energy commitment sustained of • Achieved Revenues of Rs.”

“125,000 Cr 19 Pehlay Akshar Schooling 4 Environmental, Social and Governance (ESG) Providing water connections to households as a part of our water business ESG & Sustainability Goals and Status Happiness Quotient Diversity & Inclusion Target: Increase Happiness Quotient to 85% by FY26 Target: Increase in diversity by 25% by FY26”

“Diversity has increased by 39% in FY23 vis-à-vis FY21 Occupational Heath & Safety Target: Work towards the goal of achieving Zero accidents”

“LTIFR has reduced to 0.25 in FY23 vis-à-vis 0.68 in FY21, a reduction of 63% Corporate Social Responsibility Target: Reach 2 lac CSR beneficiaries by FY 26”

“CSR beneficiaries for FY23 are 5.7 lakh (includes COVID-19 response beneficiaries of 2 lakh) Circularity Target: Zero waste to landfill by FY 26 for manufacturing plants”

“Waste to landfill has reduced by 51% in FY23 vis-à-vis FY21 Water Positive Approach Energy Consumption Carbon Emission Sustainable Procurement Target: Reduce water consumption intensity in manufacturing plants by 20% by FY26 Target: Reduce energy consumption intensity of manufacturing plants by 15% by FY26”

“Energy consumption intensity has reduced by 27% in FY23 vis-à-vis FY21 Target: Reduce Greenhouse Gas (GHG) emissions intensity of manufacturing plants by 20% by FY26”

Status

9

Consolidated Financial Performance

1

Standalone Financial Performance

1

Order Intake

1

Order Book

1

Consolidated Net Debt and Net Working Capital

1

Inter SBU

1

Consolidated Financial Performance

Q2 FY24 v/s Q2 FY23 H1 FY24 v/s H1 FY23 Revenue: Rs. 4,499 crore against Rs. 4,064 crore Revenue: Rs. 8,743 crore against Rs. 7,382 crore EBITDA: Rs. 274 crore against Rs. 178 crore EBITDA: Rs. 519 crore against Rs. 346 crore EBITDA Margin (Y-o-Y): 6.1% against 4.4% EBITDA Margin: 5.9% against 4.7% EBITDA Margin (Q-o-Q): 6.1% against 5.8% Interest as % to Revenue: 4.0% against 3.1% Interest as % to Revenue: 3.8% against 3.1% PBT: Rs. 66 crore against Rs. 27 crore PBT: Rs. 112 crore against Rs. 64 crore PBT Margin: 1.5% against 0.7% PBT Margin: 1.3% against 0.9% PAT: Rs. 56 crore against Rs. 55 crore PAT: Rs. 98 crore against Rs. 86 crore PAT Margin: 1.2% against 1.4% PAT Margin: 1.1% against 1.2% Registered Office: RPG House, 463, Dr. Annie Besant Road Worli, Mumbai 400030, CIN: L45200MH2005PLC152061, India. An Company

Standalone Financial Performance

Q2 FY24 v/s Q2 FY23* H1 FY24 v/s H1 FY23* Revenue: Rs. 3,982 crore against Rs. 3,736 crore Revenue: Rs. 7,684 crore against Rs. 6,584 crore EBITDA: Rs. 184 crore against Rs. 230 crore EBITDA: Rs. 353 crore against Rs. 464 crore EBITDA Margin (Y-o-Y): 4.6% against 6.2% EBITDA Margin: 4.6% against 7.0% EBITDA Margin (Q-o-Q): 4.6% against 4.6% Interest as % to Revenue: 3.9% against 2.7% Interest as % to Revenue: 3.8% against 2.7% PBT: Rs. 9 crore against Rs. 39 crore PBT: Rs. 15 crore against Rs. 175 crore PBT Margin: 0.2% against 1.0% PBT Margin: 0.2% against 2.7% PAT: Rs. 7 crore against Rs. 36 crore PAT: Rs. 11 crore against Rs. 136 crore PAT Margin: 0.2% against 1.0% PAT Margin: 0.1% against 2.1% *PBT of Q2 & H1 FY23 included an exceptional item of Rs. 76 Cr towards provision for impairment of subsidiary in SAE Brazil

Order Book

YTD Order Book of Rs. 31,320 crore, healthy growth of ~14% YoY; Additionally, L1 of over Rs. 4,000 crore.

Consolidated Net Debt and Net Working Capital

▪ Net Debt including Acceptances stands at Rs. 6,339 crore as on 30th Sep’23. The increase in the net debt at ~7% YoY, is significantly lower than our Revenue growth of 24% in the trailing 12 months. ▪ Net Working Capital (NWC) stands at 140 days as on 30th Sep’23 – Reduction of 8 days vis-à-vis 30th Sep’22. Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We are pleased with the consistent growth in Revenues and improving trajectory of Profitability. The strong growth in Revenue has been delivered by good performances in Transmission and Distribution (T&D) and Civil businesses. We continue to deliver an improvement in EBITDA margin every quarter, with the margin increasing by 170 basis points to 6.1% in Q2 FY24, up from 4.4% in Q2 of the previous year. We are particularly encouraged by another quarter of turnaround performance in SAE Towers, as it has now achieved a positive PBT for two consecutive quarters. With a robust order book & L1 position of over Rs 35,000 cror

Inter SBU

Total Net Sales T&D Share Non T&D Share *Others include primarily Solar 2,209 1,876 333 2,445 1,054 776 127 413 75 -155 4,499 49% 51% 2,060 1,839 220 2,126 740 883 81 390 33 -121 4,064 51% 49% 7% 2% 51% 15% 42% -12% 57% 6% 129% 11% 4,349 3,707 641 4,705 2,008 1,540 232 802 123 -311 8,743 50% 50% 3,690 3,104 586 3,957 1,338 1,592 173 809 45 -265 7,382 50% 50% 18% 19% 9% 19% 50% -3% 34% -1% 172% 18% 16 Borrowings & Working Capital (Consolidated) Particulars I) Net Debt II) Interest Bearing Acceptances Total (I + II) 30-Sep-23 30-Sep-22 4,491 1,848 6,339 3,548 2,372 5,919 Increase/ (Decrease) YoY 943 -524 420 31-Mar-23 2,872 2,113 4,985 Increase/ (Decrease) QoQ 1,619 -265 1,354 (₹ crore) ❑ Net debt including acceptances stands at Rs. 6,339 Cr as on 30 Sep’23. The increase in the net debt at 7% YoY, is significantly lower than our Revenue growth of 24% in the trailing 12 months ❑ Net Working Capital (NWC) has been brought down by 8 days to 140 days as on 30 Sep’23 vis-a-vis 148 days as on

Status

Diversity has increased by 39% in FY23 vis-à-vis FY21 Occupational Heath & Safety Target: Work towards the goal of achieving Zero accidents