KEC International, a reputable construction engineering company, share price increased by as much as 5.93 percent to reach an intraday high of INR 940 per share. The reason behind this upsurge is the company’s announcement that it has secured an order worth INR 1,100 crore. As per the company, these new orders were secured by KEC International from Transmission & Distribution (T&D) projects which encompass multiple regions including India, the Middle East, Australia, and the Americas.
The company will be responsible for projects including 765 kV Transmission line and 765 kV GIS Substation orders in India from Power Grid Corporation of India Limited (PGCIL). Furthermore, another order would be with regards to 132 kV transmission line in the United Arab Emirates (UAE). This is followed by the supply of towers in Australia and Americas and supply of hardware and poles in Americas respectively.
“We are delighted with the continuous inflow of orders, especially in our T&D business. The 765 kV orders from PGCIL have substantially bolstered our India T&D order book. The consecutive orders in UAE have further solidified our leadership in the Middle East T&D market. We are particularly enthused by the significant tower supply order from Australia, which strengthens our tower supply business by tapping into a sizeable new market. With the above orders, our YTD order intake has exceeded Rs 6,000 crore, a staggering growth of over 80 per cent vis-à-vis last year,” said Vimal Kejriwal, MD & CEO, KEC International.
As compared with Rs 72.17 crore posted in Q4FY23, the company's consolidated net profit surged 110.3 percent to Rs 151.75 crore in the fourth quarter of fiscal year 2023-24 (Q4FY24). Further to note, registering a growth of 11.6 percent year on year, the net sales stood at INR 6,164.83 crore.
Speaking of KEC International, it is a global player in infrastructure Engineering, Procurement, and Construction (EPC). It operates across various sectors which include Power Transmission and Distribution, Railways, Civil Engineering, Urban Infrastructure, Solar Energy, Cables, and Oil & Gas Pipelines. KEC International maintains a robust global presence as a flagship entity of the RPG Group. Currently, it is active across 30 countries and has marked its footprint in more than 110 countries today. According to Bombay Stock Exchange (BSE), the market capitalization of KEC International stands at INR 23,739.54 crore.
