KEC International spurts on bagging orders worth Rs 1,349 cr

KEC International rallied 5.74% to Rs 494.95 after the company announced that it has secured new orders worth Rs 1,349 crore across its various businesses.

The company's Transmission & Distribution (T&D) business has secured orders for T&D projects in India, SAARC, Middle East and America. The orders include a high-voltage direct current (HVDC) project in India, from a leading private player, KEC's first project in the segment of HVDC Terminal Station in India. Further, the orders also entail 400 kV overhead transmission line in Kuwait, 132 kV underground cabling order in Nepal and supply of towers in the United States of America.

The civil business received orders for building a Data Centre and for infra works in the hydrocarbon segment in India. Meanwhile, Cables business secured orders for various types of cables in India and overseas.

Vimal Kejriwal, MD & CEO, KEC International, commented, We are delighted with the new order wins, especially our maiden order in the growing segment of HVDC Terminal Station in India. KEC is the first EPC company in India to secure an order of this scale in this segment. We have consolidated our leadership position in the Middle East market by re-entering Kuwait. With the cabling order in Nepal, we have expanded our presence in the international cabling solutions segment.

He further added, With the order for building a Data Centre in NCR, we are now executing Data Centre projects across India. With these orders, our YTD order intake has now surpassed Rs 13,000 crore, a robust growth of approximately 20% vis-vis last year.

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, urban infrastructure, solar, smart infrastructure, oil & gas pipelines, and cables.

The RPG Group company's consolidated net profit declined 31% to Rs 55 crore despite a 13% rise in revenues to Rs 4,064 crore in Q2 FY23 over Q2 FY22.

Powered by Capital Market - Live News