KEC International advanced 2.15% to Rs 456.15 after the company announced that it has secured new orders worth Rs 1,407 crore across its various businesses.
The company's Transmission & Distribution (T&D) business has secured orders for T&D projects in Middle East. The orders include a 400 kV transmission lines for part of the Kuwait - Saudi Arabia interconnection project and 380 kV transmission line in Saudi Arabia.Civil business received an order for the construction of official quarters and associated facilities for senior government officials in India.
The Railways business of KEC has bagged an order for signaling & telecommunication works of train collision avoidance system (TCAS) under 'Kavach' in consortium in India.
The Cables business has secured orders for various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO of KEC International commented, We are pleased with the continuous order inflows across businesses. Our YTD order intake now stands at Rs 8,400 crore, with a robust growth of 50% vis-vis last year. The orders in Middle East consolidate our presence in the region and significantly expand our T&D order book, particularly in the international market.
The large order in Civil has enhanced our presence in the growing public spaces segment and further diversified our clientele. We are also enthused by the second Railway order in the TCAS segment under 'Kavach,' which aims to enhance safety of Indian Railways with world class technology. These orders along with the orders announced earlier, reaffirm our confidence in achieving the targeted growth going forward.
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.
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The company's consolidated net profit tumbled 32.8% to Rs 31.02 crore on 30.6% surge in net sales to Rs 3,318.08 crore in Q1 FY23 over Q1 FY22.
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