Explore Business Standard
KEC International on Wednesday said the company sees "no bearing" on the execution of existing contracts from Powergrid, after being excluded from participating in future tenders by the state-owned transmission player. The company has issued a clarification after receiving a communication from Power Grid Corporation of India Ltd (PGCIL) that it has been excluded for a period of nine months related to an earlier issue. In a statement to exchanges, KEC International said it "does not foresee any material impact on its ongoing operations or financial position". The company said it is examining various options available, including legal recourse/approaching PGCIL for reconsideration of the matter. In a filing to exchanges on Tuesday, KEC International informed "receiving a letter from PGCIL informing that the company has been excluded from participating in tenders of PGCIL and award of contracts by it for a period of 9 months... for alleged transgression of contractual provisions, in .
RPG Group firm and a global infrastructure major KEC International has secured orders worth Rs 2,211 crore across various businesses. According to a company statement, the Transmission & Distribution (T&D) business has secured orders in the Middle East and Americas. This entails design, supply and installation of 380 kV Overhead Transmission Lines in the Kingdom of Saudi Arabia (KSA) as well as supply of towers, hardware and poles in the Americas. The Oil & Gas Pipelines business has secured its second international order for terminal station works in Africa in addition to its ongoing pipeline laying project in the region. The Cables business has secured orders for supply of various types of cables in India and overseas. "The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the Middle East and North Africa (MENA) region's strategic importance as a key growth driver for us. "Our subsidiary, SAE Towers has ..
Engineering, procurement and construction firm KEC International has reported a 76 per cent growth in consolidated net profit at Rs 268 crore in March quarter, aided by higher revenues. It had recorded a net profit of Rs 152 crore during the January-March period of preceding 2023-24 financial year, the company said. KEC International increased its revenues to Rs 6,872 crore in the latest fourth quarter from Rs 6,165 crore in the same period a year ago, posting a rise of 11.46 per cent. The company's EBITDA (earnings before interest, tax, depreciation and amortisation) also increased to Rs 539 crore in the quarter under review from Rs 388 crore in Q4 FY24. For the entire fiscal, the net profit or PAT (profit after tax) at Rs 571 crore was up by 64.55 per cent against Rs 347 crore in FY24, the company said in a filing on Monday. Revenue increased to Rs 21,847 crore from Rs 19,914 crore in the corresponding financial year. The company's board also recommended a dividend of Rs 5.5 pe