KEC International rallied 5.22% to Rs 949.80 after the civil construction firm bagged new orders worth Rs 1,017 crore in transmission & distribution (T&D) and renewable businesses.
The company's T&D business secured contracts for an EPC project and tower supply in the Middle East.The renewables business also won an order for balance of system package of a 625 MWp solar PV project in Rajasthan from a subsidiary of a reputed public sector undertaking (PSU) in the renewable power generation sector.
Vimal Kejriwal, MD & CEO, KEC International said, We are delighted with the continuous inflow of orders in the first quarter of the financial year. The prestigious solar order has reaffirmed our confidence that the Renewable EPC business will contribute significantly to our future growth. The T&D orders in the Middle East have further strengthened our order book in the international T&D market. With these orders, our YTD order intake has surpassed Rs 5,000 crore, a remarkable growth of 50% vis-vis last year.
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, Oil & gas pipelines, and cables.
The companys consolidated net profit zoomed 110.3% to Rs 151.75 crore on 11.6% growth in net sales to Rs 6,164.83 crore in Q4 FY24 over Q4 FY23.
The counter hit an all time high of Rs 968.20 on the BSE.
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