Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Kay Cee Energy & Infra Ltd. (KCEIL)
SME CapPower stocks · SME cap · NSE
KCEIL is an ISO 9001:2015 certified EPC company with 27+ years of experience in power transmission infrastructure, specializing in EHV lines (132 kV to 765 kV) and substations (up to 400 kV). It offers end-to-end solutions including design, procurement, construction, testing, commissioning, and O&M services for government and private clients.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals18 Oct 2026 · screener
Latest result20 May, 11:21 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · SMA20 -1.2% / mo · MACD + · near 52W low
Stock trend: 31
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
KCEILD candles · FIT view-40.5%Latest close ₹76.55 on 2026-10-21
Bar
-4.3%
RSI
46
MACD hist
0.07
52W pos
1%
2026-10-21O ₹80.00H ₹80.00L ₹76.15C ₹76.55Vol 15,500 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KCEILNifty PowerNifty 500
- KCEIL
- -15.6%
- Nifty 500
- -6.5%
- Nifty Power
- -14.5%
- Vs Nifty 500
- -9.2 pp
Chart stats
21 Oct 2026- From 52W high
- -70.6%
- 52W range position
- 1%
- ATR (14)
- 4.9%
- Volume vs 20D
- 0.90x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹75 - ₹85.1
₹260.3
₹74 - ₹260.3
₹3.7
Latest completed session
20-session average
42.0% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED65
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model+83.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence58
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹81 Cr | NDF | -2.4% |
| EBITDA | ₹16 Cr | NDF | +6.7% |
| Operating margin | 20.0% | NDF | +200 bps |
| PAT | ₹10 Cr | NDF | +11.1% |
| PAT margin | 12.3% | NDF | +151 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 4.98
- P/B
- 0.91
- EV/EBITDA
- 5.26
- Market Cap
- 93.40Cr
Profitability
- ROE
- 22.80%
- ROCE
- 22.30%
- ROA
- 7.98%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 6.54%
- EPS 5Y
- 11.76%
- Revenue 3Y
- 6.54%
- EPS 3Y
- 11.76%
Balance Sheet
- Debt/Equity
- 0.73
- Interest Coverage
- 4.00×
- Altman Z
- 2.23
- Book Value
- 84.30
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -35.00 Cr
- EPS TTM
- 15.36
Shareholding
- Promoter Hold
- 63.41%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 81.0-2.4% vs prev
Net Profit
₹ CrLatest: 10.0+11.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 46. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~1.2% over last month) — short-term momentum negative.
- RSI(14) at 46 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
4
RS percentile
Stage 4 Downtrend
1M return
-4.2%
3M return
-15.0%
6M return
-40.9%
1Y return
-65.5%
RS 1D
+1
RS 20D
0
Sector rank
#12
Industry rank
#32
Stage evidence
- Price is 19.3% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -5.6%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
261 observations
21 Oct 2026Value 36.95-2.15%
RS vs Nifty 50037
Valuation & peers
U-Score 65 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 65 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation30/30
Growth16/25
Quality15/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-7
Raw sum
65
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
65/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 83.5%.
- Valuation contributes 30/30 to the score.
- Quality contributes 15/20 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
5.0
PB
0.9
EV/EBITDA
5.3
ROE
22.8%
ROCE
22.3%
FCF Yield
—
Debt/Equity
0.7
MoS
+83.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
65
Previous: 65
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+83.5%
Previous: +83.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
65
65
65
65
65
65
65
65
65
65
65
65
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹170.69
+55.2% MoS
Growth-justified P/E
30.1
Growth-justified Value
₹463.1
+83.5% MoS
PEG
0.42
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
INDIFRA
SME
Indifra Ltd.
Electrical Equipment
match 151
16
—
-0.9%
-43173%
OVERVALUED
JAINIK
SME
Jainik Power Cables Ltd.
Electrical Equipment
match 147
58
17.5
25.6%
+30%
FAIR VALUE
LAKSHYA
SME
Lakshya Powertech Ltd.
Electrical Equipment
match 132
21
9.8
9.8%
-29%
OVERVALUED
CHAMUNDA
SME
Chamunda Electrical Ltd.
Electrical Equipment
match 131
57
14.0
13.1%
+49%
FAIR VALUE
RULKA
SME
Rulka Electricals Ltd.
Electrical Equipment
match 130
47
16.0
9.2%
+45%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-19T03:11:20.965Z
Management commentary snapshot
FY26 revenue grew 8% YoY to ₹165 Cr, driven by strong EPC execution, despite delayed ERS supply shipments impacting revenue recognition. EBITDA increased to ₹330.46 Cr (FY25: ₹276.18 Cr) and PAT to ₹187.84 Cr (FY25: ₹170.62 Cr), with PAT margin improving to 11.34%.
KCEIL's FY26 performance was resilient, showing YoY growth in revenue and profitability despite geopolitical delays in ERS supplies and raw material volatility. The company missed its revenue guidance due to these external factors, deferring ₹50-60 Cr revenue. Focus on operational discipline and margin protection is positive, but execution on delayed projects and new initiatives is key.
Current business mix
Revenue from Private Entities
Latest issuer-disclosed distribution across 2 reported categories.
Private Entities12.5%
Public Sector Units87.5%
Growth engines
Backward Integration
Setting up manufacturing facility in Kota for connectors, hardware, panels & structures to reduce procurement time/costs and create new revenue streams.
Solar EPC Projects
Expanding into EPC space for Renewable Energy Plant construction, including Solar Parks for captive and third-party sales.
Railway Electrification
Expanding into railway electrification infrastructure, including underground EHV lines and overhead lines across railway tracks.
Diversified Service Portfolio
Offering substation automation, long-distance underground/monopole power transmission, and installing lines across railway tracks.
Capacity and execution
Manufacturing Facility (Plant-I)
Ancillary manufacturing part will be operational by Fiscal 2026-27 at G-249, Kota-5 (85% work complete).
Manufacturing Facility (Plant-II)
Plant-II at B-16, IPIA, Kota-5, purchased in 2021, is under construction and expected to be ready by September 2026 for full-fledged manufacturing.
Tailwinds
Power Transmission Infrastructure Investment
India expects 277 GW power demand by 2027, requiring ₹4.25 trillion investment in transmission infrastructure.
Transmission Capacity Expansion
NEP outlines 114,687 ckm of transmission lines and 776,330 MVA transformation capacity by 2027.
Renewable Energy Integration
Transmission system planned to integrate over 600 GW RE capacity by 2031-32, with significant line and transformation capacity additions.
Strong Order Book Visibility
Strong order book visibility supporting future growth, with total unexecuted orders of ₹48,139.03 Lakhs as of March 31, 2026.
Headwinds
Geopolitical Tensions & Supply Delays
Delays in ERS supply shipments (₹5,000–6,000 lakhs) due to geopolitical tensions and war-related disruptions in the Middle East.
Raw Material Price Volatility
Raw material prices witnessed significant volatility and upward pressure during FY26.
Risk radar
Supply Chain Disruptions
Geopolitical tensions caused delays in ERS supply shipments, deferring revenue recognition and highlighting reliance on external factors.
Raw Material Cost Pressure
Significant volatility and upward pressure on raw material prices can impact project profitability and margins.
Project Execution Delays
Failure to fully achieve FY26 revenue guidance due to supply delays indicates execution risks tied to external factors.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The investor presentation explicitly provides financial results for H2 FY26 vs H2 FY25 and FY26 vs FY25, indicating a primary focus on year-over-year comparison for assessing performance trends.
Sector KPIs management disclosed
Revenue
FY26 Revenue reached ₹165 Cr vs ₹153 Cr in FY25 (8% YoY growth)
EBITDA
FY26 EBITDA ₹330.46 Cr vs ₹276.18 Cr in FY25
PAT
FY26 PAT ₹187.84 Cr vs ₹170.62 Cr in FY25
PAT Margin
FY26 PAT Margin 11.34% vs 11.14% in FY25
Management forward view
Optimistic Growth Outlook
With delayed ERS supplies now expected to be executed and continued momentum in power infrastructure, management is optimistic about growth.
Focus on Operational Discipline
Company remained focused on maintaining operational discipline, protecting margins, and prudent project execution over aggressive revenue growth.
Improving Margins
Focus on improving margins through backward integration via new manufacturing facilities.
Strategic Expansion
Expanding into Solar EPC projects and Railway electrification infrastructure.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Delayed ERS Supply Execution | ₹5,000–6,000 lakhs revenue deferred from FY26. | Timely execution and revenue recognition of these delayed supplies in the current financial year. |
| Manufacturing Facility Commissioning | Plant-I ancillary manufacturing by FY26-27; Plant-II full-fledged manufacturing by Sep 2026. | Adherence to commissioning timelines and ramp-up of in-house production. |
| Order Book Conversion | ₹48,139.03 Lakhs unexecuted order book as of March 31, 2026. | Consistent conversion of order book into revenue and new order inflows, especially from new segments. |
| Margin Improvement | FY26 PAT Margin 11.34%. | Impact of backward integration on raw material costs and overall profitability margins. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
58Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 22nd percentile of the scored universe and 28th percentile within Power. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
22nd percentile
overall median 67 · Power: 28th pctile, median 65 · SME: 24th pctile, median 64
Evidence depth
Financial-only
6 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
68
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
65
acceptable · leverage and solvency
Discipline
82
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 63.4%.
- ▸Promoter pledge is zero.
- ▸ROCE is 22.3%.
Trust risks
- ▸Promoter holding fell 6.9%.
- ▸Operating cash flow is negative at ₹-35 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Kay Cee Energy & Infra Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual report
Annual Report 2026
Source: Nse
Annual reportMar 2026
Sep 2026 · Outcome of Board Meeting 5 Sep - Board approved FY26 annual report, appointed cost auditor, and fixed 12th AGM for 29 September 2026.
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Annual report
Annual Report 2025
Source: Nse
Investor presentationNov 2024
Nov 2024 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.