KEC Intl Q4 PAT seen down 12% at Rs 69 cr

Its EBITDA is seen down 3% at Rs 159 crore versus Rs 163 crore.

Its OPM is seen down at 8.43% versus 10.49%.

The company’s PAT is seen down 12% at Rs 69 crore versus Rs 79 crore.

FY12 YoY

Its consolidated total income is seen up 26% at Rs 5632 crore versus Rs 4477 crore.

EBITDA down 3% at Rs 458 crore versus Rs 473 crore.

OPM at 8.13% versus 10.58%

Its PAT down 1% at Rs 204 crore versus Rs 206 crore.

Q4FY12 Expectations

Expect top line growth due to pick up in execution of robust order backlog
Expect margin pressure due to margin pressure in domestic biz and execution of low margin international orders
Bottom line expected to decline due to margin pressure coupled with elevated interest costs

Debt as of the end of Q2FY12: Rs.1723cr; D/E at 1.74x

Order inflows and Order backlog
Total order inflows in FY12 stands at Rs 6500cr
Order book at the end of Q3FY12 stood at Rs.9200cr ((up 15% YoY))
* Order book consisted of 69% transmission orders, 24% power systems orders, 7% railways, water, etc as of Q2FY12

FY12 Guidance

Management had earlier guided for 9% EBITDA margins for FY12

H1FY12 EBITDA margin stood at 8.16%