Engineering firm KEC International has bagged new orders worth Rs 1,007 crore, including for construction of a multi-speciality hospital. Its civil business vertical secured an order for design, engineering, procurement and construction of a multi-speciality hospital in eastern India, the company said in a regulatory filing on Friday. The company's transmission and distribution business secured an order for a 380 kV overhead transmission line project in the Middle East. The cables business bagged orders from within the country and abroad. "KEC International Ltd, an RPG Group company, has secured new orders of Rs 1,007 crore across its various businesses," the filing said. "With these orders, our YTD (Year To Date) order intake stands at a record of over Rs 5,500 crore, registering a strong growth of 15 per cent from last year," Vimal Kejriwal, Managing Director and Chief Executive Officer of KEC International, said.
Consolidated profit for RPG Group's flagship company rose 36.5% to Rs 42.3 crore ($5.11 million)
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The company is witnessing a good traction in the tower supply orders, especially in North America, the management said.
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At the bourses, shares of HG Infra Engineering, KNR Constructions, and KEC International have surged up to 9.3 per cent since February 1
Analyst at Reliance Securities said, considering strong revenue visibility backed by healthy order book, earnings momentum with higher margin from Q4FY23 onwards and likely improvement in return ratio
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The company reported Rs 23,716 crore of orderbook in the fiscal year ended March 2022, up by 18% over the previous year and plans to bid for Rs 1.1 trillion of orders, which are in the pipeline
Inflation remains a key risk for margins amid geopolitical tensions. But, analysts expect this to improve from the second half of FY23 due to declining commodity prices and strong order inflows
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KEC International and Shriram Transport Finance can soar up to 22 per cent, while Macrotech Developers, Gujarat Fluorochemicals and Godrej Consumer can rally up to 15 per cent, show charts.
The company has bagged multiple orders worth Rs 1,092 crore across its businesses in India and overseas.
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Engineering, procurement and construction major KEC International on Friday said it has bagged new orders worth Rs 1,025 crore across its various businesses.
The contract is for the construction of 11.61 kilometres of elevated viaduct section and eleven elevated stations