KEC International's Q4 FY25 performance was in line with revenue and Ebitda expectations, with net profit exceeding estimates due to a lower tax rate.Revenue for Q4 grew 12% YoY to Rs 68.7 billion, slightly above the brokerage's estimate of Rs 68.4 billion.Motilal Oswal reiterates a Neutral rating on KEC International stock and raises the target price to Rs 940, based on 21x Mar’27 estimates.KEC is currently trading at 24.6x/19.4x on FY26E/27E earnings.