KEC Intl climbs on bagging new orders – EQ Mag
KEC International rose 1.02% to Rs 481.55 after the company said it has secured new orders of Rs 1,313 crore across its various businesses.
The company’s transmission & distribution (T&D) business has secured orders for T&D projects in India, East Asia Pacific and SAARC. These include 220 kV GIS Substation for a refinery project in India; 500 kV Transmission line in Thailand; and 132 kV Transmission line and associated substations in Nepal.
The solar business has secured a large order for a 500 MW Solar PV project in India.
Vimal Kejriwal, MD & CEO, KEC International commented, “We are delighted with the new order wins, especially our largest order in Solar business to build a 500 MW Solar PV power plant in India. In line with the Government’s thrust on green hydrogen and renewables, such as Solar, we are now refocusing on this business. With the substation order in T&D, we have now diversified our customer base to include non-utility clients, in addition to the current power utilities. The T&D orders in East Asia Pacific and SAARC have further strengthened our presence in these international markets. With these orders, our YTD order intake stands at ~Rs. 14,500 crores, a robust growth of ~20% 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, smart infrastructure, oil & gas pipelines, and cables. The company is currently executing infrastructure projects in 30+ countries and has a footprint in 110+ countries (includes EPC, supply of towers and cables). It is the flagship Company of the RPG Group.
The company’s consolidated net profit declined 31% to Rs 55 crore despite a 13% rise in revenues to Rs 4,064 crore in Q2 FY23 over Q2 FY22.
Source: PTI
