KEC Intl rallies on securing new orders

KEC International rose 3.26% to Rs 379 after the company said it has secured new orders of Rs 1,438 crore across its various businesses.

The railways business has secured orders of Rs 475 crore in the urban infra/ emerging segmentsin India.

The civil business has secured orders of Rs 383 crore for infra works from reputed private playersin the chemical, cement & residential segments and a government order in the water pipeline segment in India.

The transmission & distribution (T&D) business has secured orders of Rs 362 crore for T&D projects in Middle East and the Americas from various customers.

The cables business has secured orders of Rs 218 crore for various types of cables/ cabling projects in India and overseas.

Vimal Kejriwal, the managing director (MD) & chief executive officer (CEO) of KEC International, commented: "We are delighted with the new orders secured across our business verticals, especially in Railways, which continues to expand its portfolio in the emerging growth areas of Metro/DFCC/High-speed trains. In line with our diversification strategy, our civil business has been successful in securing breakthrough orders in the fast growing Chemical and Water Pipeline segments. The orders in T&D include the first few supply orders secured directly by our recently acquired Transmission Tower manufacturing facility in Dubai. We are also enthused by the EPC order in Americas, secured by SAE Towers, which strengthens our order book in that region."

KEC International's net profit rose 2.5% to Rs 142.55 crore in Q2 September 2020 from Rs 139.12 crore in Q2 September 2019. Consolidated revenue from operations 3,257.67 crore in Q2 September 2020, rising 16% from Rs 2,808.81 crore in the same period last year.

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major.

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