KEC International gains on bagging orders worth Rs 937 cr

KEC International rose 1.59% to Rs 399.85 after the company said it secured new orders worth Rs 937 crore across its various businesses.

In Transmission & Distribution (T&D) segment, KEC International bagged orders of Rs 418 crore for transmission line and substation projects in India, Middle East, and the Americas.

In Railways segment, the business has received orders worth Rs 294 crore in conventional/emerging segments in India.

In the Civil segment, the company secured an order worth Rs 135 crore for infra works in the metals & mining segment in India. In Cables segment, the business has secured orders of Rs 90 crore for various types of cables in India and overseas.

Commenting on the order win, Vimal Kejriwal, managing director (MD) and chief executive officer (CEO) of KEC International, commented: "We are pleased with the new order wins amidst global upheavals. The substation order in Middle East along with the transmission line orders secured last year, have significantly enhanced our order book in that region. The orders in Railways, further strengthen our leadership in the conventional Railway segment. The order in the Civil business reaffirms our confidence in the strong growth of this business going forward."

On a consolidated basis, KEC International reported a 0.7% rise in net profit to Rs 194.30 crore on 18.8% increase in net sales to Rs 4,360.54 crore in Q4 FY21 over Q4 FY20.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, solar, smart infrastructure and cables.

Powered by Capital Market - Live News