KEC Intl gains on bagging order worth Rs 3000 cr

KEC International rose 4.07% to Rs 494.55 after the company said it received new orders of Rs 3,023 crore across its various businesses.

The company's transmission and distribution (T&D) business has secured orders for transmission and distribution (T&D) projects in Americas.

Its civil business has secured orders for executing infra works in the water pipeline and commercial building segments in India. Meanwhile, the cable segment also secured orders for various types of cables in India and overseas.

Vimal Kejriwal, managing director & chief executive officer, KEC International, said, We are pleased with the size of new order wins, especially the orders in the water pipeline segment including our single largest order till date. We are now executing ten prestigious projects in this segment with an overall project value of over Rs 5,000 crore, under the 'Jal Jeevan Mission' of the Government. With the above orders, our YTD order intake stands at a record level of over Rs 18,500 crore, a robust growth of over 30% vis-vis last year. These orders will significantly contribute towards our targeted growth going forward.

KEC International is primarily engaged in engineering, procurement and construction business (EPC) relating to infrastructure inter-alia products, projects and systems and related activities for power transmission, distribution, railway, civil, cable and other EPC businesses.

The company's consolidated net profit declined 81.2% to Rs 17.60 crore despite of 31% net sales to Rs 4,374.62 crore in Q3 FY23 over Q3 FY22.

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