KEC International Limited

Corporate Presentation

4 Au g u s t 2 0 2 1

Power T & D Railways Civil Solar Smart Infra Oil & Gas Cables
Pipelines
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 forward-looking 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
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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
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 RPG Group
Page 04-05

KEC International
Business Overview
Page14-37
Page 06-10

Leadership Team
Page 11-13

Industry Overview
Management Team
Page39-40
Page 14-17
Contents

Business Overview
Page 18-26

Financial Overview
Page 27-32

Environmental, Social and Governance (ESG)

Page 33-36

3
RPG Group

4
RPG Group: Powered by Passion, Driven by Ethics
Founded by Shri RP Goenka in 1979 One of India’s fastest growing conglomerates

Turnover in excess of USD 4 billion 20,000+ employees

Footprint in 105+ countries KEC acquired by RPG Group in 1982

KEC RPG Life Raychem Harrisons

CEAT Zensar Malayalam
International Sciences RPG
Global EPC Leading Software Pharma Engineering One of India’s
Company; T&D, manufacturer services provider Company; wide products & largest plantation
Railways, Civil, of automobile spread across range medicines services companies; tea,
Solar, Smart Tyres 20 countries in global generics company rubber & other
Infra, Oil & Gas & synthetic APIs agro-products
& Cables

5
KEC International

6
KEC Overview

9000+
7+
DECADES
OF EXPERIENCE
& EXPERTISE EMPLOYEES
DIVERSE
35+ NATIONALITIES

FOOTPRINT IN

105+ $1.8
COUNTRIES BILLION
GLOBAL EPC MAJOR

ONGOING
PROJECTS IN

30+ 40%+
BUSINESS
COUNTRIES OVERSEAS
7
 KEC Overview
• Global infrastructure EPC major
• FY21 Sales: Rs. 13,114 crore (USD 1.8 billion)
• Eight manufacturing facilities across India, Dubai, Brazil and Mexico

Footprint in 105+ countries across the globe

Central Asia

Americas Middle Oceania

Africa East India &
South Asia

EPC Footprint countries

EPC: 70+ countries
Tower Supply: 65+ countries
Cables Export: 80+ countries 8
Overview (contd.)

Sustained leadership in Power Transmission EPC

• Indian multinational infrastructure EPC major
• Over 7 decades of experience; presently executing 250+ projects

Diversifying to mitigate risk

• Diversified across businesses and geographies
• Footprint in 105+ countries across 6 continents (EPC & Supply)
• Currently executing EPC projects in 30+ countries

Strong global presence

• Business spread across India, SAARC, Middle East, Africa, Southeast Asia, Americas and
Oceania

Robust Order Book

• Order Book of ~Rs. 26,000 crore (including L1) (As on 30 June 2021)

Consistent Growth
• FY21 Sales: Rs. 13,114 crore (USD 1.8 billion)

9
KEC’s Expansion into New Verticals

10
Leadership Team

11
Board of Directors

H. V. Goenka
Chairman

Vimal Kejriwal A. T. Vaswani D. G.Piramal G. L. Mirchandani M.S. Unnikrishnan

MD & CEO Director Director Director Director

Nirupama Rao R. D. Chandak S. M. Trehan Vikram Gandhi

Director Director Director Director
12
 Management Team

Vimal Kejriwal
Managing Director & CEO

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

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 13
Industry Overview

14
 Industry Outlook: Transmission & Distribution (T&D)
INDIA
• Last mile electrification; 24x7 Power for All
• Augmentation of transmission networks; addition of 1,00,000+ ckm of TLs & T&D Capex – FY2016-40 ($Bn)
2,90,000+ MVA of transformation capacity expected between 2017-22
Region 2016-25 2026-40
SAARC Afghanistan, Bangladesh, Nepal, Bhutan India 291 566
• Expansion of India’s cross border interconnection Americas 410 619
• Increase in private & multi lateral funding; focus on power generation & renewables
Europe 544 755
EAP & CIS Malaysia, Thailand, Philippines, Georgia (incl. East
• Initiatives funded by multilateral institutions to expand & upgrade power Europe,
infrastructure Eurasia)
Asia 1387 2310
MIDDLE EAST Saudi Arabia, UAE, Oman
• Large power generating plants, interconnection lines planned Middle 95 218
• Investment of ~ USD 34 billion for T&D expansion expected in next five years East
Africa 202 598
AFRICA Mozambique, Kenya, Uganda
Latin 158 288
• Low per capita electricity consumption; Interconnections planned
America
NORTH AMERICA United States, Canada
• ~2,60,000 km of lines planned between 2014-35
• Upgradation of existing systems; estimated investment $1.77 Bn is expected

SOUTH AMERICA Brazil

• Addition of ~2,28,000 km of lines expected by 2035
• Several cross-country lines planned
Source: IEA's World Energy Outlook 2017, World Bank 15
Industry Outlook: Cables and Railways

CABLES
• Annual Indian market ~ Rs. 20,400 crore p.a. (USD 3.1 billion)
• Strong demand driven by power sector, real estate and industrial activity
• India’s aggressive plans for power sector, driving growth
• Demand for improved network quality expected to improve telecom tower and cable demand

RAILWAYS
• FY22 Budget Outlay of Rs. 2,15,058 crore expected to auger well for the sector
• 100% electrification target by FY23; i.e., 46,000 km of Broad-Gauge
• Urbanisation & strain on existing infrastructure driving investment in
• Regional Rapid Transit System – 8 corridors identified
• Metro systems probable for cities with 2 million population
• Dedicated Freight Corridor Corporation - North South, East West, East Coast, South West corridors
identified
• Connection to ports through new Rail networks; Diamond Quadrilateral project (bullet train)
• Modernisation of the signalling System by adopting and upgrading to ETCS Level II system
• Metro & RRTS; 1,016 km of metro and RRTS is under construction in 27 cities, focus on
emerging technologies such as ‘MetroLite’ and ‘MetroNeo’
16
Industry Outlook: Civil, Smart Infra, and Solar

CIVIL
• Opportunities in the domains of smart cities, industrial corridors & infrastructure-linked Real
Estate development
• Promising outlook on residential sector, owing to increase in demand and Affordable & Mass
Housing schemes
• Opportunities under programmes such as Bharatmala, Sagarmala, and Namami Gange

SMART INFRA
• Smart City initiative; construction of 100+ smart cities
• BharatNet project; fibre connectivity at Gram Panchayat level
• Digital upgradation of utilities to enable peak load management, theft reduction, AT&C loss
reduction, etc.

SOLAR
• Developing countries such as SAARC, Africa and the Middle East focusing on expanding
power generation through Solar
• National Solar Mission; target to build 100 GW of solar capacity by 2022

17
Business Overview

18
Transmission & Distribution (T&D)

• One of the largest Power T&D EPC

companies; footprint across 70
countries

• Global leadership with experience of

7+ decades

• Integrated solutions on turnkey basis

765 kV Fatehgarh-Bhadla Transmission Line for a private
developer, Rajasthan
• Transmission Lines up to 1,200 kV
• Large size substations – Air Insulated
up to 1,150 kV, Gas Insulated up to
765 kV & Hybrid Substations up to
220 kV

• Leading turnkey provider of Optical

fibre cable laying & Optical ground
wire stringing

• Strong capabilities in ahead of

schedule & on-time delivery of
projects
400 kV Air Insulated Substation, Tanzania 19
 Transmission & Distribution (T&D) (contd.)

SAE Towers, USA

Wholly owned subsidiary

• Leading manufacturer of steel lattice

transmission towers in the Americas

• 9+ decades of rich and diverse

experience in the region

• Executing EPC works in Brazil &

500 kV Sapeaçu - Poções III Transmission Line, Brazil
Mexico

• Products & services offered –

• End-to-end solutions for building
transmission lines & substations
• Manufactures transmission towers,
poles, substation structures,
hardware; Annual production capacity
of 102,200 MTs per annum
• Comprehensive Tower testing
solutions
Substation - Gantry Foundation in progress for 138 kV
Transmission Line, Nicaragua 20
In-house capabilities for turnkey solutions
Design & Engineering
• In-house design centers with 275+ engineers across eight centres in
India, the Middle East and Americas
• >60 years library of transmission lines design database, including
towers, hybrid poles and monopoles; expertise across designing
substations (AIS, GIS, Hybrid) and solar structures
• Equipped with latest design, detailing and profiling software
Manufacturing
• Largest globally operating manufacturing capacity of 4,22,200 MTs p.a.
(including Transmission towers, Steel poles, Hardware, Structures for
Railways, Solar, and Substations)
• Railway structures’ manufacturing capacity of 48,000 MTs p.a.
• Solar Structures’ manufacturing capacity of 12,000 MTs p.a.
• Six tower manufacturing plants – 3 in India, 1 in Dubai, 1 in Mexico and
1 in Brazil
Tower Testing
• Only company in the world to have 4 tower testing stations - 3 in India; 1
in Brazil
• Capable of testing towers up to 1,200 kV; all types of towers - Lattice,
Guyed, Tubular and Mono Poles
21
Railways
• Currently executing 30+ projects; electrified 30% of the Indian Railway network till date
• Complete turnkey solutions provider in the railway infrastructure EPC space
• Overhead Electrification systems
• Signalling & Telecommunication systems for outdoor and indoor installation including Electronic
Interlocking (EI) for new lines and capacity augmentation works
• Traction substations
• Doubling, tripling, and new railway lines including earthwork and track-laying
• Civil infrastructure such as bridges, tunnels, platforms, stations, residential buildings and workshops
• Electrification, track laying and other services in the technology enabled/ emerging growth areas of
Metros, DFCC and High-speed trains
• Manufacture of signalling cables, contact & catenary conductors, quad cables, contact
wires, dropper, jumper & feeder wires, earthing conductors, and galvanised steel structures

Villupuram-Thanjavur Railway Bhopal-Itarsi Third Line project, Ballastless track laying works,
Electrification project, for RVNL Madhya Pradesh Kochi Metro project
22
Civil
• Focus on construction of factories, warehouses, residential buildings, commercial
complexes, data centres, airports, metros, water pipelines and water treatment plants
• Providing services in an area dominated by small unorganised players and few large
companies
• Established as a preferred agency in the construction of factories, especially Cement,
Automobile and Auto-ancillaries
• In the league of top 10 contractors executing the slip form technology in Silo Construction
• Currently executing 30+ projects
• Leveraging advanced digital technologies such as drones, photogrammetry, BIM, and IoT in
construction and utilising latest formwork technology and mechanisation tools
• Seven decades of experience executing various civil works across the business

Cement manufacturing plant at Construction of high-rise residential

Jamshedpur, Jharkhand towers at Bangalore, Karnataka Delhi Metro Rail project, New Delhi
23
Solar
• Capabilities to execute large scale projects >150 MW

• Significant experience in Single Axis Tracker implementation

• Proficiency in Design, project feasibility analysis across large-scale Solar Photovoltaic

Power plants, backed by project management & execution capabilities

• Supply/sourcing of key equipment and structures

• Complete range of civil works and O&M services

• Integrated EPC solutions for solar generation and evacuation

• Preferred EPC status with large international developers

150 MWp Ground Mount Solar 20 MW Solar Carport project, 30 MW Tracker Based Installation,
Project, Rajasthan Haryana Andhra Pradesh
24
Smart Infra

• Launched Smart Infra vertical in

FY 2018-19
• Focus on Smart Cities &
Communication, Smart Grid and
Smart Mobility
• Business aligned with Government
of India’s agenda of enhancing
India’s digital infrastructure and
building 100+ smart cities Command and Control Centre at Aurangabad Smart City

• Currently executing two projects in

the core Smart City & Smart Grids
domain and two airport perimeter
security projects
• Commissioned Command &
Control Centre, Biometric System
and Digital Outdoor Displays for
Aurangabad Smart City Project;
Investor Management Solution
and Chatbot for Bidkin Smart City
HDPE duct & Environmental Sensors for Bidkin Smart City
25
Cables

• Extensive range of cables & turnkey

cabling solutions offered in 30+ countries
• Two fully integrated facilities,
manufacturing a wide range of Power
(HT, LT and EHV up to 220 kV), Control
& Instrumentation, Telecom, Solar,
Railway Signalling Cables and Railway
Contact & Catenary Conductors
• Manufacturing capacity includes: Railway products plant at Cables manufacturing
unit, Vadodara, Gujarat
- Power (~40,000 km p.a.)
- Instrumentation (3600 km p.a.)
- Optical fibre (8 lakh fiber km p.a.)
- Copper telecom (6 lakh conductor km
p.a.)
- Catenary conductors (2,040 MTs p.a.)
- Contact wire (3,240 MTs p.a.)
• Pioneered production of cross-linked
polyethylene (XLPE) cables in India
• Accredited with ISO 9001, ISO 14001 Cables manufacturing unit, `Mysore, Karnataka
and OHSAS 18001 certifications
26
Financial Overview

27
Order Intake & Order Book

Order Intake YTD FY22 Jun’21 Order Book

T&D : 27% SAE : 12% T&D: 49% SAE : 5%
1%
20%
24%

YTD Order Intake 39% Order Book

10% Rs 4,401 Crs 2% Rs 20,434 Crs
54%

19%
31%
T&D Civil Cables Railways T&D Civil Cables Railways Others
Domestic : 69% International : 31% Domestic : 63% International : 37%

Order Book + L1 of Over Rs 26,000 Crs 28

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%

29
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

30
 Profit & Loss Highlights
(₹ crore)
Consolidated Standalone
Particulars Growth Growth
Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21
(Y-o-Y) (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%
31
KEC: Equity Share Information
Year-End Market Capitalisation (Rs. Crore) Equity Share Information
12000
• Share Price (3 Aug 2021): Rs. 415.60 / share
10562
10200 • Market Cap (3 Aug 2021): Rs. 10,685 crore
10000
• Financial Year – April to March
• Listed on Indian Stock Exchanges
8000 7706
• Bloomberg Code – KECI IN
• Reuters Code – KECL.BO
6000
5354
4770
Shareholding Pattern
(As of March 31, 2021)
4000
12%

2000 52%
36%

0
FY17 FY18 FY19 FY20 FY21 Public Institutional Investors Promoter

32
Environmental, Social and
Governance (ESG)

33
Green Portfolio (1/2)
Our portfolio of businesses promote environment sustainability by efficient usage of natural resources

TRANSMISSION & DISTRIBUTION RAILWAYS

• Effective way of transporting • More efficient than road in terms
energy with maximum of energy efficiency and land
efficiency and minimum utilisation
carbon footprint • Electrification of Indian Railways
to preserve fossil fuels and curb
• Focus on Green Energy pollution
Corridor (GEC) projects to • Optimisation of resources
ensure transmission of clean through innovative engineering
and reliable renewable energy solutions

CIVIL URBAN INFRASTRUCTURE

• Providing clean water by • Most effective way of urban
building cross-country water commuting; Reduces
pipelines consumption of fuel and
• Building energy-efficient pollution
factories and residential
complexes • Use of precast/prefab
• Constructing industrial plants construction techniques, which
to convert municipal waste to are environmentally friendly and
energy generate less carbon footprint
34
Green Portfolio (2/2)
Our portfolio of businesses promote environment sustainability by efficient usage of natural resources
SOLAR
• 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
• Energy-efficient and
environment – friendly mode
for transportation of gas, crude
oil, and petroleum products
• Promoting utilisation of gas-
based clean energy
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
35
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 ESG Focus Areas

Unleash Enabling environment for people to Human Capital Diversity & Inclusion
unleash their entrepreneurial spirit and Management
Talent realise their full potential
Occupational Health Quality and Service
& Safety Delivery
Touch To understand, care and make a Local Community
meaningful difference to customers, Customer Centricity
Lives Development
employees, society & all stakeholders
Financial Digitalization and
Performance Innovation
Sustained & clear outperformance
relative to all our competitors & industry Water-Positive
Outperform Circularity
on financial and non-financial metrics Approach
that matter
Sustainable
Decarbonization
Procurement
To have fun by creating high-energy
environment with a keen sense of Corporate Governance
belonging and smiling faces everywhere
36
 THANK YOU
Global Footprint in
100+ countries*
*Includes EPC and Supply

Follow us on: Registered Office

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

www.kecrpg.com