KEC International advanced 2.77% to Rs 441.25 after the company announced that it has secured new orders of Rs 1,108 crore across its various businesses.
The company's Transmission & Distribution (T&D) business has secured orders for T&D and Cabling projects in India, Middle East and Africa. The orders include a 400 kV Transmission line order in India, from Power Grid Corporation of India Limited (PGCIL), a 132 kV Underground cabling order from a state utility in India, a 220 kV Transmission line and tower supply orders in Middle East, secured by the company's UAE subsidiary and a 330 kV Transmission line order in Africa.
The Railways business of KEC has secured orders in the technologically enabled and conventional/ emerging segments in India. The business has secured a contract for overhead electrification (OHE), auxiliary power supply, SCADA system and associated works for metro. It has bagged an order for signaling & telecommunication works of train collision avoidance system (TCAS) under 'Kavach' in consortium. It has secured a separate order for doubling of tracks and associated civil works.
The Oil & Gas Pipelines business has secured an order for laying of cross-country pipeline and associated works in India.
Vimal Kejriwal, MD & CEO, KEC International, commented, We are delighted with the new order wins, especially in Railways, which is witnessing a gradual uptick through orders in both conventional and new segments.
The business has secured its maiden order in the prestigious TCAS segment under 'Kavach,' which aims to enhance safety of Indian Railways with world class technology.
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The orders in T&D have expanded our order book, especially the third order from PGCIL in quick succession. These orders, along with the orders announced earlier during the year, will significantly contribute towards our growth in the domestic T&D market.
The order in the Oil and Gas Pipelines further enhances the business' order book.
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'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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