KEC Intl gains on bagging orders

KEC International rose 1.62% to Rs 430.50 after the global infrastructure EPC major said it secured new orders of Rs 2,042 crore across its various businesses.

KEC International said the Transmission & Distribution (T&D) business has secured orders for T&D projects in Middle East and Americas. The civil business has secured orders for infra works in the Water Pipeline and Data Centre segments in India. The railways business has secured orders in conventional and technologically enabled segments in India. The cables business has secured orders for various types of cables in India and overseas.

Vimal Kejriwal, MD & CEO, KEC International commented, "We are delighted with the continuous order inflows across businesses. With the above orders, our order inflows for the current year stand at ~Rs. 10,500 crores, a robust growth of ~40% vis-vis last year. Our International T&D order book has enhanced substantially in the last few months, especially in the Middle East region. The prestigious orders in the Water Pipeline and Data Centre segments have expanded our presence in these growing sectors. Our Railway business has further consolidated its order book with orders in both conventional and emerging/ new areas. These orders will significantly contribute towards our targeted growth going forward."

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 company's consolidated net profit tumbled 32.8% to Rs 31.02 crore on 30.6% surge in net sales to Rs 3,318.08 crore in Q1 FY23 over Q1 FY22.

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