The shares of the largest power transmission company gained up to 7 percent after the company received a new order worth Rs 1,017 crore for Transmission & Distribution (T&D) and renewable business.
KEC International Ltd has a market capitalization of Rs 24,564.79 crore, the shares were trading in green at Rs 955.50 per share, increasing around 6 percent as compared to the previous closing price of Rs 902.70 apiece.
Matter Explanation:-
The shares of the company have seen positive movement after KEC International Ltd received a new order worth Rs 1,017 crore for an EPC project and supply of towers in the Middle East and for a Balance of System Package of a 625 MWp Solar PV project in Rajasthan from a subsidiary of a reputed PSU in renewable power generation segment.
Mr. Vimal Kejriwal, MD & CEO, of KEC International Ltd. commented, “We are delighted with the continuous inflow of orders in the first quarter of the financial year. The prestigious Solar order has reaffirmed our confidence that the Renewable EPC business will contribute significantly to our future growth.
The T&D orders in the Middle East have further strengthened our order book in the international T&D market. With these orders, our YTD order intake has surpassed Rs 5,000 crores, a remarkable growth of 50% vis-à-vis last year.”
Financial conditions:-
Examining the company’s financial performance, revenue jumped by 11 percent from Rs 5,525 crore in Q4FY23 to Rs 6,165 in Q4FY24, however during the same period of time, net profit magnified by 111 percent from Rs 72 crore to Rs 152 crore.
Network & recent orders:-
KEC International has a footprint in over 110 countries with more than 7 decades of experience in transmission & distribution, the company has over 300 ongoing projects in urban infra.
Recently, the company has secured significant orders of over Rs. 2,000 crore across key markets such as the Middle East, North America, South America, Africa, Europe, and Australia – The largest order from the US and the maiden order from Europe.
Company profile:-
KEC International Limited is an India-based worldwide infrastructure engineering, procurement, and construction (EPC) firm. The company operates in the following verticals: electricity transmission and distribution, trains, civil, and urban infrastructure, solar, oil and gas pipelines, and cables.
Written by:- Abhishek Singh
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