Shares of KEC International surged by 4.89% to ₹905.20 apiece on the BSE today, after it secured new orders in transmission and distribution (T&D) and cables businesses. This spike followed the company's announcement on Wednesday, June 26, that it bagged new orders worth ₹1,025 crore.
In the T&D sector, KEC International was awarded a 765 kV GIS substation project by the Power Grid Corporation of India Ltd in India (PGCIL), along with a 225 kV composite project in West Africa, which includes transmission lines, substations, and underground cabling. Besides, the company secured various significant projects across India, Africa, and the Americas. These include contracts for supplying towers, hardware, and poles in the Americas, the company states in a release.
Additionally, the cables business also received orders for supply of various types of cables catering to both domestic and international markets.
Vimal Kejriwal, MD & CEO, KEC International Ltd. said, “We are pleased with the continuous inflow of orders, especially in our T&D business. The orders in T&D have substantially expanded our order book in both domestic and international markets. With the above orders, our YTD order intake has surpassed ₹4,000 crores, with a staggering growth of over 70% 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.”
With the recent orders, the company's total order intake for the year has surpassed ₹9,000 crore, marking a growth of over 70% compared to the previous year, according to the company's managing director and CEO.
Earlier this month, the company announced it had won orders worth ₹1,061 crore, which included multiple orders across its transmission and distribution, railways, and civil segments.
Kejriwal said, “We are delighted with the consecutive order wins secured across our business verticals. The orders in T&D have enhanced our order book in both domestic and international markets. Our Railway business has further expanded its presence in the technologically enabled areas of metros with the addition of a new client and secured its first order for Gauge conversion works. With these orders, our YTD order intake stands at over ₹3,000 crores, with a robust growth of ~30% vis-à-vis last year.”
Additionally, in another release, KEC secured orders worth ₹1,002 crore from its civil business, which included residential projects in northern and southern India and the construction of official residences and facilities for senior defence officials in India.
Kejriwal stated, “We are pleased with the new orders in our Civil business, including our largest order in the Residential segment. The Civil business continues to be on an exponential growth trajectory, which is reflected in the substantial repeat orders secured from existing clients across diverse segments. With this order in Northern India, KEC is now constructing over 70 high-rise buildings for marquee clients across the country.
