KEC International Ltd

- There is no explicit mention of any current or planned new fundraising through debt or equity in the provided excerpts. - The management focuses on reducing existing debt, targeting a reduction of around INR1,000 crores in FY '27 (INR500 crores by Q2 and another INR500 crores by year-end). - Debt levels are targeted to come down to approximately INR5,500-6,000 crores by the end of FY '27. - The discussion primarily revolves around deleveraging and working capital improvement rather than raising new funds. - No guidance or comments were made specifically on fresh equity or debt issuance in the near term according to the given transcript.

- For FY '27, KEC International has targeted a capex of around INR 400 crores. (Page 18) - The company continues to invest in new product fronts such as Elastomeric cables production and commissioning of an E-Beam plant slated for Q2. (Page 8) - Renewables business is expanding selectively in solar and wind segments, with recent significant orders in wind energy. (Page 8) - The Oil & Gas pipeline business is expanding in international markets including the GCC region, marking strategic footprint growth. (Page 8) - ESG and sustainability investments include increasing solar footprint at factories to 39% and efforts toward Scope 3 Inventorisation and Net Zero Strategy. (Page 8)

- FY '27 revenue growth is expected around 12% to 15%, driven by existing order book plus L1 of INR40,000 crores (Page 10). - Civil segment anticipated to grow more than 30% in revenue, with order intake targets around INR8,000 crores compared to INR5,000 crores last year (Page 12). - T&D segment's order pipeline remains robust at about INR70,000 crores for the next three months, evenly split between domestic and international markets (Page 22). - Large tender pipelines in the Middle East present growth opportunities, with expectations of business increase, especially in transmission and rebuild work, possibly accelerating post-H2 FY '27 (Page 23). - Renewable segment expected to continue selective growth with opportunities in solar and wind (Page 8). - Overall growth to be balanced with focus on margin improvement and working capital management, with no aggressive order intake increase planned (Page 22).

- FY '26 results showed growth with operating PBT up 21% and operating PAT up 18%. - Margins (PBT and PAT) expanded modestly by 40 bps and 30 bps respectively. - Management emphasized focus on quality order inflows with larger EPC orders to improve execution and margins. - Civil segment expected to see significant revenue growth of over 30% from FY '27 onward. - International and domestic data center business likely to see order conversion growth as several large projects move from announcement to execution. - Middle East market expected to grow with robust tender pipeline (~INR35,000 crores) and client confidence despite geopolitical issues. - Labor cost impact due to new Labour Code is limited, with an overall rationalized cost structure. - Debt targeted to be reduced by INR1,000 crores in FY '27, improving financial health. - Double-digit margin aspirations targeted around FY '29, indicating margin improvement over medium term.

- Closing order book stood at INR36,267 crores as of FY '26. - Order book plus L1 position stands at over INR40,000 crores, providing visibility for the next 6-7 quarters. - Order intake target for Civil segment for FY '27 is around INR8,000 crores, up from INR5,000 crores last year. - Overall order intake expected to touch around INR30,000 crores for FY '27, up from INR25,000 crores in the previous year. - T&D segment secured significant inflows of around INR17,700 crores in FY '26. - Current L1 position is over INR3,000 crores. - T&D business seeing a structural shift with increasing private player participation, accounting for 80% of orders versus 45% last year. - Pipeline includes potential HVDC projects (7-8 expected, one in advanced stage).