 "KEC International wins transmission, distribution orders worth Rs 1,079 cr")
KEC International Ltd has won new orders totalling Rs 1,079 crore, primarily in its Transmission & Distribution (T&D) and Cables divisions, according to a company press release.
The new T&D projects span several regions, including India, West Asia, and the Americas. Notable contracts include an order for 765 kV/400 kV transmission lines from a private developer in India and multiple transmission line projects in Saudi Arabia and Oman. Additionally, KEC will upgrade an existing 400 kV transmission line in the UAE and supply essential infrastructure components in the Americas.
With the new orders, KEC's year-to-date order intake has risen to over Rs 8,700 crore, marking a growth rate of approximately 60 per cent compared to the previous year, said Vimal Kejriwal, managing director and chief executive officer, KEC International Ltd.
The company, in its FY24 annual report, had stated that on the order intake front, it secured orders of Rs 18,102 crore during the year. The largest contributors have been the India T&D business, followed by international T&D and civil businesses. Twenty-one per cent of these orders are for the supply of products such as towers, cables, hardware, and poles.
As of March 31, 2024, the company had an order book nearing Rs 30,000 crore. In addition, it held a substantial L1 position of over Rs 7,000 crore, predominantly in the T&D business. The combined order book and L1 position exceed Rs 37,000 crore, providing strong revenue visibility for the next 6 to 8 quarters, stated the annual report.
“The prestigious order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele. The significant orders across Saudi Arabia, Oman, and the UAE have substantially expanded our international T&D order book in the Middle East,” said Kejriwal.
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Shares of the infrastructure company closed at Rs 840.80, up by 1.48 per cent, as the benchmark Sensex was higher by 0.04 per cent at 81,086.21 points.