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KEC International Limited (KEC) Fair Value & Analysis

Industrials · IN · Market cap ₹137B

KI KEC International Limited KEC · NSE
Price₹515.30
Fair Value₹425.43
Upside-17.4%
Quality36/100
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Evidence: High Range ₹209.67 – ₹553.06

Fair value as of: Jul 3, 2026

From 17 valuation models · updated yesterday

Share price +2.6% over the past month.

Price vs Fair Value (12 months)

₹900.88 ₹473.35 Fair Value ₹425.43 Jul 2025 Jul 2026

12‑month range ₹473.35 – ₹900.88 · fair‑value band ₹209.67 – ₹553.06 · the ₹515.30 price screens above the ₹425.43 fair value. As of Jul 3, 2026.

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Analysis

KEC International Limited (KEC) currently trades at ₹515.30, while our model-based Fair Value estimate is ₹425.43 — implying the stock looks roughly 17.4% overvalued today. We read business quality at 36/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, KEC International Limited generated revenue of ₹235B at a net margin of 2.6%. Revenue declined 7.0% year over year. It earns a return on equity of 10.5%. Net debt stands at ₹48.7B. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) ₹235B
Revenue growth (YoY) -7.0%
Net margin 2.6%
Return on equity 10.5%
Free cash flow −₹13.5B FY2026
P/E ratio 22.7
More key figures
Operating margin 6.2%
EPS (TTM) ₹22.74
Dividend yield 1.1%
EPS growth (YoY) -28.1%
Net debt ₹48.7B FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

KEC International Limited engages in the engineering, procurement, and construction (EPC) business. It designs, manufactures, supplies, and erects transmission lines on turnkey basis; executes gas insulated transmission lines; undertakes EPC projects of high voltage electrical switching and distribution substations, as well as transmission lines in oil field areas; and turnkey solutions for railway contracts. The company also provides civil engineering solutions for transportation; urban infrastructure; industrial; residential and defense; commercial, public space, and datacenters; water; and international projects. In addition, it is involved in the provision of solar EPC services for large solar PV projects and PV solutions for industrial and commercial consumers; and design and engineering, project execution and management, bid management, and project feasibility analysis for large-scale solar photovoltaic power plants, as well as roof-top solar PV projects. Further, the company …

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

KEC International Limited reported revenue of ₹235B in FY2026 versus ₹135B in FY2022, a compound +14.8%/yr. Reported net income was ₹6.1B in FY2026, compounding +16.2%/yr from FY2022.

Revenue +14.8%/yr
FY22 ₹135B
FY23 ₹170B
FY24 ₹196B
FY25 ₹215B
FY26 ₹235B
Net income +16.2%/yr
FY22 ₹3.3B
FY23 ₹1.8B
FY24 ₹3.5B
FY25 ₹5.7B
FY26 ₹6.1B

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6 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

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Frequently asked questions

Is KEC International Limited (KEC) undervalued?
As of Jul 3, 2026, our model estimates a fair value of ₹425.43 versus a price of ₹515.30 — about −17% (overvalued). Model-based estimate, not financial advice.
What is the fair value of KEC?
Our model-based fair value for KEC International Limited is ₹425.43 (as of Jul 3, 2026), built from audited fundamentals. The current price is ₹515.30.
What is the quality score of KEC?
KEC International Limited has a Quality Score of 36/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of KEC International Limited (KEC)?
KEC International Limited reported trailing-twelve-month revenue of about ₹235B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of KEC?
The net profit margin of KEC International Limited is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does KEC International Limited pay a dividend?
KEC International Limited currently shows a dividend yield of about 1.05% relative to its recent price (as of Jul 3, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.