KEC International wins New Orders of Rs. 945 crores

KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 945 crores across its various businesses:

The Transmission & Distribution (T&D) business has secured orders for T&D and Cabling projects in India, SAARC, Middle East, and Americas:

- 765 kV GIS Substation order in India, from Power Grid Corporation of India Limited (PGCIL), under Tariff Based Competitive Bidding (TBCB) route

- 400 kV Transmission line order in SAARC

- 400 kV Tower supplies order, secured by our Middle East subsidiary

- 100 kV Underground cabling project in India

- Supply of Towers and poles in Americas, secured by our subsidiary, SAE Towers

The Railways business has secured an order for setting up of power supply system, including receiving substation, high voltage cabling and associated civil works, from Delhi Metro Rail Corporation (DMRC)

The Cables business has secured orders for various types of cables in India and overseas.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are delighted with our new order wins, especially the prestigious substation order in the Green Energy Corridor from PGCIL. We are witnessing a gradual revival in the Domestic T&D market, which had been sluggish for past few quarters. Our Railway business continues to strengthen its presence in the technologically enabled areas of metros. With these orders, our total order inflow for FY22 stands at an all-time high of Rs. 17,202 crores, a robust growth of ~45% vis-à-vis last year. These orders along with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward."

Shares of KEC International Limited was last trading in BSE at Rs. 389.05 as compared to the previous close of Rs. 385.05. The total number of shares traded during the day was 22703 in over 1340 trades.

The stock hit an intraday high of Rs. 391.75 and intraday low of 382.00. The net turnover during the day was Rs. 8774761.00.

Source : Equity Bulls

Keywords

KECInternational INE389H01022 OrderWin Transmision Distribution Cables Railways