KEC Intl gains on bagging orders worth Rs 1,028 cr

KEC International advanced 2.18% to Rs 462.15 after the company announced that it has secured new orders worth Rs 1,028 crore across its various businesses.

The company's Transmission & Distribution (T&D) business has secured orders for T&D projects in East Asia Pacific, Middle East and Americas. The orders include 500/230 kV GIS substation order in Thailand, 110 kV transmission line order in Saudi Arabia. Further, the orders also entail supply of towers in Middle East, secured by its subsidiary in UAE and supply of towers, hardware and poles in Americas, secured by its subsidiary, SAE Towers.

The civil business received an order for executing a project in the logistics 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 pleased with the continuous inflow of orders, especially in our T&D and Civil businesses. The orders in T&D have significantly expanded our order book in the international T&D market. Our civil business has further diversified its presence with its maiden order in the logistics segment from a reputed private player. With the above orders, our YTD order intake stands at a record level of around Rs 19,600 crore, a robust growth of about 30% 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 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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