KEC International gains on winning new orders

KEC International rose 2.49% to Rs 333 after the company said it secured new orders worth Rs 1,401 crore across its various businesses.

The company's transmission & distribution (T&D) business, including SAE Towers, has secured orders of Rs 1,143 crore for various T&D projects from Oman Electricity Transmission Company (OETC), Power Grid Corporation of India (PGCIL) and other customers.

The railways business has secured orders of Rs 120 crore for overhead electrification (OHE)/civil works in India. The smart infra business has secured orders of Rs 48 crore in the defence segment in India.

KEC's cables business has secured orders of Rs 90 crore for supply of various types of cables/cabling projects in India and overseas. The announcement was made after market hours yesterday.

Vimal Kejriwal, MD & CEO, KEC International commented, "We are pleased with the new order wins secured across business verticals amidst the current uncertainty. The order wins in T&D include one of our largest orders secured in the Middle East region, this has significantly enhanced our international T&D order book. We are also enthused that we have been able to expand our presence in the Defence sector from the current civil projects to smart infra projects."

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

The company reported 20% decline in consolidated net profit to Rs 71 crore on 9% fall in revenues to Rs 2,207 crore in Q1 June 2020 over Q1 June 2019. EBITDA margin was at 8.8% as on 30 June 2020 as against 10.4% as on 30 June 2019.

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