KEC Intl gains on bagging orders worth Rs 1,025 crore

KEC International rose 2.43% to Rs 472.60 after the company said that it has secured new orders of Rs 1,025 crore across its various businesses.

The Transmission & Distribution (T&D) business has secured orders for T&D projects in India and Middle East. It has bagged a 400 kV Transmission line and 400/220 kV substation order in India, from a leading private developer under Tariff Based Competitive Bidding (TBCB) route. It has also received a 380 kV Transmission line from Saudi Electricity Company (SEC).

The Railways business has secured an order for 2 x 25 kV overhead electrification (OHE) and associated works for speed upgradation in India.

The Civil business has secured an order for infra works in the metals & mining segment in India.

The Oil & Gas Pipelines business has secured an order for laying of a slurry pipeline and associated works in India.

The Smart Infra business has secured an order as master system integrator (MSI) for Smart City Components for three smart cities in India.

The Cables business has secured orders for various types of cables in India and overseas.

Vimal Kejriwal, MD & CEO, KEC International, commented, Our order book continues to grow on the backdrop of orders secured across all our business verticals. With these orders, our YTD order intake surpasses Rs 13,000 crore, with a staggering growth of approximately 2 times 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.

On a consolidated basis, the company reported 44% drop in net profit to Rs 80 crore on a 10% rise in revenue to Rs 3,587 crore in Q2 FY22 over Q2 FY21.

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