KEC Intl jumps on bagging orders

KEC International rose 3.42% to Rs 446.50 after the global infrastructure EPC major secured new orders of Rs 1,065 crore across its various businesses.

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

The railways business has secured an order for construction of railway siding in the conventional segment in India.

The civil business has secured an order for infra works in the water pipeline segment in India.

The oil & gas pipelines business has secured an order for laying of oil and gas pipeline, through our wholly owned subsidiary, Spur Infrastructure.

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. The continuous orders in T&D have significantly enhanced our order book, especially in the international markets. We are particularly enthused by the order in Railways, which further consolidate our leadership in the conventional Railway segment. The order in Civil has strengthened our presence in the growing water infra segment. With these orders, our YTD order intake stands at ~Rs. 11,000 crores with a strong growth of 2.5 times vis-vis last year. These orders along with the orders announced earlier, reaffirm our confidence in achieving the targeted growth going forward."

On a consolidated basis, KEC International 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.

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 is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, supply of towers and cables). It is the flagship Company of the RPG Group.

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