KEC International Ltd. — Earnings Release 2022

Jul 30, 2021

KEC INTERNATIONAL LTD. RPG House 463, Dr. Annie Besant Road Worli, Mumbai 400030, India +91 22 66670200 www.kecrpg.com

July 30, 2021

National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (East), Mumbai 400 051

Symbol: KEC

BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400 001

Scrip Code: 532714

Dear Sir/ Madam,

Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sub: Press Release and Investor Presentation – Financial Results

Please find enclosed herewith a copy of the Press Release and Investor Presentation on the Unaudited Financial Results of the Company for the quarter ended on June 30, 2021.

The above is for your information and records.

Thanking you,

Yours faithfully,

For KEC International Limited

Digitally signed by Amit Kumar Amit Kumar Gupta Gupta Date: 2021.07.30 20:04:26 +05'30'

Amit Kumar Gupta Company Secretary & Compliance Officer

Encl: as above

Registered Office: RPG House, 463, Dr. Annie Besant Road Worli, Mumbai 400030, CIN: L45200MH2005PLC152061, India.

An Company

KEC INTERNATIONAL LTD. RPG House 463, Dr. Annie Besant Road Worli, Mumbai 400030, India +91 22 66670200 www.kecrpg.com

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Financial Performance for Quarter ended June 30, 2021

KEC delivers strong Revenue growth of 15% YoY Robust Order Book + L1 of over Rs. 26,000 crore

Mumbai, July 30, 2021 : KEC International Ltd., a global infrastructure EPC major and an RPG Group Company, today announced its results for the first quarter (Q1 FY22) ended June 30, 2021:

Consolidated Financial Performance:

Q1 FY22 v/s Q1 FY21

Revenue : Rs 2,540 crore against Rs 2,207 crore

EBITDA : Rs 160 crore against Rs 195 crore

EBITDA Margin: 6.3% against 8.8% Interest as % to Revenue: 2.6% against 3.0%

Profit Before Tax (PBT): Rs 59 crore against Rs 96 crore

PBT Margin: 2.3% against 4.4% Profit After Tax (PAT): Rs 46 crore against Rs 71 crore

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented , “We are pleased with the growth in our Revenues, delivered by good performances in our Non-T&D businesses such as Civil, Railways and Cables. The margins have been impacted by the adverse raw material prices and the continued challenging environment in Brazil. With the new orders announced today, our order book along with current L1 pipeline stands at over Rs. 26,000 crore. Our robust and well diversified order book gives us confidence of delivering a continued good growth for the year.”

About KEC International Limited

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of the RPG Group.

About RPG Enterprises

RPG Enterprises, established in 1979, is one of India's fastest growing business groups with a turnover of US$ 4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation led technology businesses.

Registered Office: RPG House, 463, Dr. Annie Besant Road Worli, Mumbai 400030, CIN: L45200MH2005PLC152061, India.

An Company

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KEC International Limited

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Investor Presentation – Q1 FY22

30 July 2021

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Cables
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Power T & D

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Railways
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Civil
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Solar
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Smart Infra Oil & Gas Pipelines

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Disclaimer

This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events and involves known and unknown risks, uncertainties and other factors. The Company cannot guarantee that these assumptions and expectations are accurate or exhaustive or will be realised. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. No obligation is assumed by the Company to update the forwardlooking statements contained herein.

The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. The Company undertake no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of KEC International Limited (the “Company”), nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or to be relied in connection with an investment decision in relation to the securities of the Company therefore any person/ party intending to provide finance / invest in the shares/businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. Neither the delivery of this document nor any further discussions by the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date. This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations.

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Contents

Overview – RPG Group and KEC International

Key Performance Highlights Q1 FY22

Financial Performance Q1 FY22

Environmental, Social and Governance (ESG)

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Cables

Power T & D

Railways

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Civil
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Solar

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Smart Infra

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Oil & Gas Pipelines

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Contents

Overview – RPG Group and KEC International Key Performance Highlights Q1 FY22 Financial Performance Q1 FY22 Environmental, Social and Governance (ESG)

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Cables
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Power T & D
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Railways
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Civil
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Solar
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Smart Infra
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Oil & Gas Pipelines
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RPG Group: Powered by Passion, Driven by Ethics

UNLEASH TALENT TOUCH LIVES OUT PERFORM AND

RPG Enterprises was founded in 1979. The group currently operates in various - industries Infrastructure, Technology, Life Sciences, Plantations and Tyre Manufacturing. The group has a history of business dating back to 1820 AD in banking, textiles, jute and tea. The Group grew in size and strength with several acquisitions in the 1980s and 1990s. KEC became a part of the RPG Group in 1982, which is now one of India’s fastest growing conglomerates with 20,000+ employees, presence in 100+ countries and annual gross revenues of over $4 Bn.

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KEC CEAT
International
One of India’s
leading
World leader in
manufacturer of
Power
automobile tyres
Transmission
EPC space
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Zensar RPG Life Raychem RPG
Technologies Sciences
Engineering
Software Pharma products and
services provider company with services
spread across 20 wide range catering to
countries, medicines in infrastructure
400+ customers. global generics segment
and synthetic of the economy.
APIs.
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Harrisons Malayalam One of India’s largest plantation companies with tea, rubber and other agro products.

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KEC International : Building Infrastructure for the World of Tomorrow

DECADES OF EXPERIENCE 7+ & EXPERTISE

FOOTPRINT IN 105+ COUNTRIES

ONGOING PROJECTS IN 30+ COUNTRIES

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9,000+ EMPLOYEES

$1.8 BILLION GLOBAL EPC MAJOR

40%+ BUSINESS OVERSEAS

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Board of Directors

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H. V. Goenka

Chairman, Non Executive Director

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Vimal Kejriwal
Managing Director
& CEO
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A. T. Vaswani Non Executive Independent Director

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D. G.Piramal Non Executive Independent Director

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G. L. Mirchandani M.S. Unnikrishnan Non Executive Non Executive Independent Director Independent Director

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Nirupama Rao R. D. Chandak Non Executive Non Executive Independent Director Independent Director

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S. M. Trehan Vikram Gandhi Non Executive Non Executive Independent Director Independent Director

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Management Team

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Vimal Kejriwal
Managing Director & CEO
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Anand Kulkarni Rajeev Agarwal Neeraj Nanda Kaushal Kodesia Manjit Singh Sethi Executive Director – Chief Financial Officer President – South Executive Director – Executive Director – Asia (T&D, Solar & Business Operations Railways Cables Smart Infra)

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Nagesh Veeturi Sanjeev Agarwal Gustavo Cedeno Pankaj Kalani Somraj Roy Sumant Srivastava Executive Director – Executive Director – Chief Executive Senior Vice President – Chief Human Chief Executive – KEC Civil International Officer – SAE Towers Finance and Resources Officer Towers LLC and (T&D, Solar) Chief Executive - Oil & Senior Vice President - Gas Pipelines MENA

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Contents

Overview – RPG Group and KEC International Key Performance Highlights Q1 FY22 Financial Performance Q1 FY22 Environmental, Social and Governance (ESG)

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Cables
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Power T & D
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Railways
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Civil
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Solar
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Smart Infra

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Oil & Gas Pipelines

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Key Performance Highlights – Q1 FY22 (1/2)

Consolidated Highlights for Q1 FY22 v/s Q1 FY21

• Revenue of Rs. 2,540 Cr - Growth of 15%

• EBITDA Margin at 6.3% against 8.8%

• Interest cost as % to sales improves to 2.6% from 3.0%

• PBT Margin at 2.3% against 4.4%

• PAT Margin at 1.8% against 3.2%

Standalone Highlights for Q1 FY22 v/s Q1 FY21

• Revenue of Rs. 2,338 Cr - Growth of 24%

• EBITDA Margin at 9.6% against 11.1%

• Interest cost as % to sales improves to 2.5% from 3.2%

• PBT Margin at 6.0% against 6.7%

• PAT Margin at 4.4% against 4.8%

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Key Performance Highlights – Q1 FY22 (2/2)

• ❑ Achieved Order intake of Rs 4,401 Cr with a robust growth of more than 2 times over last year

• Order Intake momentum continues in T & D with orders across India, SAARC, MENA, Africa & Americas

• Diversification story in new areas of Railway continues with breakthrough orders in Third Rail for Metros and Speed Upgradation

• Strengthened presence in Urban Infra with a significant order for construction of elevated viaducts and stations

• ❑ Robust Order book + L1 Pipeline of over Rs. 26,000 Cr

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Contents

Overview – RPG Group and KEC International

Key Performance Highlights Q1 FY22

Financial Performance Q1 FY22

Environmental, Social and Governance (ESG)

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Cables
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Power T & D

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Railways
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Civil
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Solar

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Smart Infra

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Oil & Gas Pipelines

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Profit & Loss Highlights

(₹ crore)

Particulars	Consolidated	Consolidated	Consolidated		Standalone	Standalone	Standalone
	Q1 FY22	Q1 FY21	Growth (Y-o-Y)		Q1 FY22	Q1 FY21	Growth (Y-o-Y)
Revenues	2,540	2,207	15%		2,338	1,890	24%
EBITDA	160	195	-18%		225	210	7%
EBITDA Margins	6.3%	8.8%			9.6%	11.1%
(+)Other Income	2	7			3	9
(-)Depreciation	38	39			30	31
(-)Interest	65	66	-2%		57	61	-5%
Interest as % to sales	2.6%	3.0%			2.5%	3.2%
PBT	59	96	-39%		141	126	12%
PBT Margins	2.3%	4.4%			6.0%	6.7%
Tax	12	26			37	36
Tax Rate %	21.2%	26.6%			26.6%	28.4%
PAT	46	71	-35%		104	90	15%
PAT Margins	1.8%	3.2%			4.4%	4.8%

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Businesswise Revenue Performance (Consolidated)

(₹ crore)

Business Verticals	Q1 FY22	Q1 FY21	Growth (Y-o-Y)
T&D:	1,397	1,454	-4%
- T&D(KEC)	1,194	1,176	2%
- SAE Towers	203	278	-27%
Non-T&D:	1,256	803	56%
- Railways	594	521	14%
- Civil	301	103	191%
- Cables	334	159	109%
- Others #	28	19	48%
Inter SBU:	(113)	(50)	125%
Total Net Sales	2,540	2,207	15%
T&D Share	51%	64%
Non-T&D Share	49%	36%

# Others include Solar and Smart Infra

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Borrowings & Working Capital (Consolidated)

(₹ crore)

Particulars	30-Jun-21	30-Jun-20	Increase/ (Decrease)		31-Mar-21	Increase/ (Decrease)
I)Net Debt	2,533	2,388	145		1,679	854
II)Interest BearingAcceptances	1,405	936	469		1,526	(121)
Total(I + II)	3,938	3,324	614		3,205	733

• ❑ Average Borrowing level continues to be largely in line with the target of ~Rs 2,500 Cr

• ❑ Net Working Capital (NWC) stands at 135 days as on 30[th] Jun’21. Some of our focused initiatives are as below:

• Close monitoring of cash flows through multi-layered review mechanism

• Reducing the billing cycle time

• Concerted efforts on expediting commercial closure of projects

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Order Intake & Order Book (Consolidated)

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Order Intake YTD FY22
T&D : 27% SAE : 12%
20%
39%
YTD Order Intake
10%
Rs 4,401 Crs
31%
T&D Civil Cables Railways
Domestic : 69% International : 31%
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Jun’21 Order Book
T&D: 49% SAE : 5%
1%
24%
Order Book
2% Rs 20,434 Crs
54%
19%
T&D Civil Cables Railways Others
Domestic : 63% International : 37%
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Order Book + L1 of Over Rs 26,000 Crs

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Contents

Overview – RPG Group and KEC International Key Performance Highlights Q1 FY22

Financial Performance Q1 FY22

Environmental, Social and Governance (ESG)

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Cables
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Power T & D

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Railways
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Civil
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Solar
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Smart Infra

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Oil & Gas Pipelines

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Green Portfolio (1/2)

Our portfolio of businesses promote environment sustainability by efficient usage of natural resources

TRANSMISSION & DISTRIBUTION

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• Effective way of transporting energy with maximum efficiency and minimum carbon footprint

• Focus on Green Energy Corridor (GEC) projects to ensure transmission of clean and reliable renewable energy

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RAILWAYS

• More efficient than road in terms of energy efficiency and land utilisation

• Electrification of Indian Railways to preserve fossil fuels and curb pollution

• Optimisation of resources through innovative engineering solutions

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CIVIL

• Providing clean water by building cross-country water pipelines

• Building energy-efficient factories and residential complexes

• Constructing industrial plants to convert municipal waste to energy

URBAN INFRASTRUCTURE

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• Most effective way of urban commuting; Reduces consumption of fuel and pollution

• Use of precast/prefab construction techniques, which are environmentally friendly and generate less carbon footprint

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Green Portfolio (2/2)

SOLAR

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• Construction of large solar-based power generation plants, which have one of the lowest lifecycle emissions

• Innovative industrial solar solutions leading to reduced dependency on fossil fuels

OIL & GAS PIPELINES

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• Energy-efficient and environment – friendly mode for transportation of gas, crude oil, and petroleum products

• Promoting utilisation of gas-based clean energy

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SMART INFRA

• Developing Smart Cities to encourage efficient use of resources

• Solid waste management solutions for a Swachh Bharat mission

• Environment monitoring and city surveillance solutions to improve quality of life of citizens

CABLES

• Enhancing energy efficiency through reduction in T&D losses

• Improving land utilization through Underground Cabling solutions

• Developing innovative cable designs such as Hybrid cables to minimize consumption of raw materials

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Commitment to ESG

KEC is committed to delivering excellence and outperformance with unwavering focus on embedding sustainable practices towards improving Environment, Society, Safety and Governance

Strategic ESG Pillars

Strategic ESG Pillars ESG Focus Areas Unleash Enabling environment for people to unleash Human Capital Diversity & Inclusion their entrepreneurial spirit and realise their full Management Talent potential Occupational Health Quality and Service & Safety Delivery Touch To understand, care and make a meaningful Local Community Customer Centricity Lives difference to customers, employees, society & Development all stakeholders Financial Digitalization and Performance Innovation Sustained & clear outperformance relative to all Water-Positive Outperform our competitors & industry on financial and nonCircularity financial metrics that matter Approach Sustainable Decarbonization Procurement To have fun by creating high-energy environment with a keen sense of belonging and smiling faces Corporate Governance everywhere

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Sustainability Roadmap

Occupational Corporate Happiness Diversity & Heath & Social Quotient Inclusion Safety Responsibility Increase Happiness Increase in Work towards the Reach 2 lac CSR Quotient to 85% diversity by 25% goal of achieving beneficiaries by by FY26 by FY26 zero accidents FY 26 Water Positive Energy Carbon Sustainable Circularity Approach Consumption Emission Procurement Zero waste to landfill Reduce water Reduce energy Reduce Greenhouse 100% of key by FY 26 for consumption intensity consumption intensity Gas (GHG) emissions suppliers to be manufacturing plants in manufacturing of manufacturing intensity of assessed under ESG plants by 20% by FY26 plants by 15% by FY26 manufacturing plants criteria by FY23 by 20% by FY26

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THANK YOU

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Global Footprint in
100 countries
Includes EPC and Supply
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Follow us on:

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Registered Office

RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400 030. Phone: +91-22-6667 0200 Email: kecindia@kecrpg.com

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www.kecrpg.com