KEC International stock price surges sharply on Rs 1,422 crore-order win

KEC International surges sharply: Shares of KEC International surged sharply on Wednesday after the company announced that it has secured an order. 

The KEC International stock rose 2.23 per cent to hit an intraday high of Rs 899.75 per share following the order win.

In an exchange filing, KEC International said, “KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,422 crore for Transmission & Distribution (T&D) projects in India and Americas.”

The company has secured contracts for 765 kV and 400 kV transmission lines in India from Power Grid Corporation of India Limited (PGCIL). Additionally, it will supply substation structures in the United States of America (USA).

 

“We are delighted with the continued success in our T&D business, driven by a series of significant order wins. Our order book in India T&D continues to grow on the back of the prestigious orders secured from PGCIL. We are also encouraged by our largest order for supply of substation structures in the USA. With these, our YTD order intake has surpassed Rs 7,500 crore, a remarkable growth of over 70 per cent vis-à-vis last year. These orders along with the orders announced earlier during the year, will substantially contribute towards our targeted growth going forward,” said Vimal Kejriwal, MD & CEO of KEC International.

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.

Tha market capitalisation of KEC International is Rs 22,855.16 crore, according to Bombay Stock Exchange (BSE).

At 12:40 PM, KEC International shares were trading 1.06 per cent higher at Rs 889.40 per share. By comparison, BSE Sensex was trading 0.75 per cent lower at 79,827.97 levels.