 "KEC International stock price rallies 6% on Rs 1,100 crore-order win")
KEC International stock price zooms: Construction engineering company KEC International share price jumped as much as 5.93 per cent to hit an intraday high of Rs 940 per share.
The share price rose after the company announced that it has secured an order worth Rs 1,100 crore.
KEC International secured new orders for Transmission & Distribution (T&D) projects across multiple regions including India, the Middle East, Australia, and the Americas, the company said.
The company will be responsible for projects including 765 kV Transmission line and 765 kV GIS Substation orders in India from Power Grid Corporation of India Limited (PGCIL); 132 kV transmission line in the United Arab Emirates (UAE); supply of towers in Australia and Americas; and supply of hardware and poles in Americas
“We are delighted with the continuous inflow of orders, especially in our T&D business. The 765 kV orders from PGCIL have substantially bolstered our India T&D order book. The consecutive orders in UAE have further solidified our leadership in the Middle East T&D market. We are particularly enthused by the significant tower supply order from Australia, which strengthens our tower supply business by tapping into a sizeable new market. With the above orders, our YTD order intake has exceeded Rs 6,000 crore, a staggering growth of over 80 per cent vis-à-vis last year,” said Vimal Kejriwal, MD & CEO, KEC International.
Financial performance
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The company's consolidated net profit surged 110.3 per cent to Rs 151.75 crore in the fourth quarter of fiscal year 2023-24 (Q4FY24) as compared with Rs 72.17 crore posted in Q4FY23. Net sales stood at Rs 6,164.83 crore, registering a growth of 11.6 per cent year on year.
KEC International is a global player in infrastructure Engineering, Procurement, and Construction (EPC). The company operates across various sectors including Power Transmission and Distribution, Railways, Civil Engineering, Urban Infrastructure, Solar Energy, Oil & Gas Pipelines, and Cables. As a flagship entity of the RPG Group, KEC International maintains a robust global presence.
The company is actively engaged in executing infrastructure projects in over 30 countries and has established its footprint in more than 110 countries.
Its operations span across EPC services, supply of towers, and cables, reflecting its diversified capabilities and expansive reach in the global infrastructure landscape.
Its operations span across EPC services, supply of towers, and cables, reflecting its diversified capabilities and expansive reach in the global infrastructure landscape.
Tha market capitalisation of KEC International is Rs 23,739.54 crore, according to Bombay Stock Exchange (BSE).
At 10:24 AM, KEC International shares were trading 4.06 per cent higher at Rs 923.40 per share. By comparison, BSE Sensex was trading 0.12 per cent higher at 80.812.53 levels.