KEC

What KEC International promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q4 FY26

what the last two calls moved 16 tracked 3 delivered 5 missed 8 open
  • EBITDA Margin delivered, diluted said Q4 FY25 Promised: 8% to 8.5% for FY26 Q4 FY26: Achieved a full-year EBITDA margin within the revised 7-7.5% range (Q4 at 7.0%), but missed the original 8-8.5% target.
  • Net Working Capital Days missed said Q4 FY25 Promised: 100 days by end of FY26 Q4 FY26: Achieved 135 days, significantly missing both the original target of 100 days and the revised target of 110-115 days.
  • Cables Revenue at risk said Q4 FY25 Promised: around ₹3,500 crores revenue by FY27 Q4 FY26: Management guided for ~15% growth in FY27, which projects to revenue far below the ₹3,500 crore target, putting the promise at significant risk.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 16 tracked commitments for KEC International — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens