Next Speaker of the Day in @ias_summit: Rusmik Oza @OzaRusmik from 9 Rays Equiresearch Company Name : KEC International Sector: Power Sector - T&D Opportunity Market Cap: 18,927 Cr #IAS2025
Global T&D Opportunity: Expects 5-6% CAGR in next 5 years, with India growing at 10%. India T&D Opportunity is of 9L Cr capex outlined from FY25-FY32E.
Business Segments: 1. Tranmission & Distribution: 67% 2. Civil: 16% 3. Transportation: 7% 4. Renewables, Oil & gas: 4% Order Book (Exports: 45% for 110+ countries) - T&D: 65%
Financials: FY25-28e Revenue cagr of 15% & EBITDA cagr of 25%. Improvement of ROE going forward to higher double digit from lower double digit currently.
PAT cagr for next 2-3y is expected to be 40%+. Peer comparison with Kalpataru & Adani Energy.
Key risks: - 9 month Power grid ban. - Geopolitical risk - Working Capital management & labour intensive.
