KEC Intl gains on securing order worth Rs 1,131 cr

KEC International rose 1.95% to Rs 468.20 after the company has secured new orders of Rs 1,131 crore across its various business from domestic and international markets.

The Transmission & Distribution (T&D) business has secured orders from transmission and distribution (T&D) projects in India, Africa and Americas. The project includes composite package including 220 (kilovolt) kV & 132 kV GIS & AIS substation, transmission line and underground cabling, supply of towers in the United States of America and large tower supply order in Mexico, secured by its subsidiary, SAE Towers.

The Civil business has secured orders for executing infra works in the Metals & Mining and Pharma segments in India. The Cables business has also secured orders for various types of cables in India and overseas.

Vimal Kejriwal, managing director & CEO, KEC International said, "The orders in T&D have enhanced our order book in both domestic and international markets. With the orders in Americas, including the large tower supply order in Mexico, we are witnessing an uptick in the North American market. Our civil business continues to strengthen and diversify its presence in the industrial segment. With these orders, our YTD order intake stands at over Rs 15,500 crore, a growth of ~10% vis-vis last year."

KEC International is primarily engaged in engineering, procurement and construction business (EPC) relating to infrastructure interalia products, projects and systems and related activities for power transmission, distribution, railway, civil, cable and other EPC businesses.

The company's consolidated net profit declined 31.2% to Rs 55.24 crore despite of 13.3% jump in net sales to Rs 4,064 crore in Q2 FY23 over Q2 FY22.

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