Share price of a global infrastructure EPC major moved up by 8 percent on BSE to hit an intraday high at Rs. 829 in Monday’s trading session, after the company secured orders worth Rs. 1,061 crore across its various businesses.
With a market cap of Rs. 20,798.5 crore, at 11:50 a.m., the shares of KEC International Limited were trading in the green at Rs. 809.15, up by 5.4 percent.
According to the regulatory filings of June 7th on the stock exchanges, KEC International, an RPG Group company, announced securing new orders of Rs. 1,061 crore in its various businesses.
In the Transmission & Distribution (T&D) segment, the company has secured transmission lines and substation order from a reputed private developer in India, along with an additional order for a Transmission line in Malaysia and a supply of towers, hardware and poles in the Americas.
The company’s railway segment secured a maiden order for composite gauge conversion works as well as the setting up of a power supply system, including receiving substation, high voltage cabling and associated civil works, from Bengaluru Metro Rail Corporation (BMRC).
Lastly, the cable segment received orders for the supply of power transmission conductors from a renowned infrastructure player in India and the supply of various types of cables in India and overseas.
“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 Rs. 3,000 crores, with a robust growth of ~30% vis-à-vis last year,” the company’s CEO & Managing Director commented.
Earlier on 5th June, KEC secured orders of Rs. 1,002 crore in its Civil businesses for residential projects in Northern and Southern India and construction of official residences and associated facilities for senior Defence officials in India.
As of 31st March 2024, the consolidated order book stood at Rs. 29,644 crore, while the order intake was Rs. 18,102 crore, with the T&D and Civil businesses being the major contributors.
In terms of financials, the revenue from operations stood at Rs. 6,165 crore in Q4 FY23-24, rising by 11.6 percent YoY from Rs. 5,525 crore in Q4 FY22-23, and the net profit grew by 111.11 percent YoY to Rs. 152 crore from Rs. 72 crore, during the same period.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 830 crore in FY22-23 to Rs. 1,215 crore in FY23-24, representing a growth of 46.4 percent.
The stock has delivered positive returns of nearly 43.5 percent in one year and around 30.7 percent in the last six months. So far in 2024, it has given about 33.5 percent of positive returns.
KEC International Limited is a global infrastructure Engineering, Procurement and Construction (EPC) major, with a presence in the verticals of Power Transmission and Distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Written by Shivani Singh
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