In Thursday’s session, the share price of a global infrastructure EPC major moved up by 9.3 percent on BSE to Rs. 947.7, after the company secured orders worth Rs. 1,171 crores under the Transmission and Distribution (T&D) business in the Middle East.
With a market cap of Rs. 23,877 crores, at 10:23 a.m., the shares of KEC International Limited were trading in the green at Rs. 928.75, up by 7.1 percent, compared to its previous closing price of Rs. 867.3.
What’s the news:
According to the latest regulatory filings on the stock exchanges, KEC International announced securing new orders worth Rs. 1,171 crores in Transmission & Distribution (T&D) businesses.
The orders consist of a 400 kV transmission line in the United Arab Emirates (UAE) and a 380 kV transmission line in Saudi Arabia.
“The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book. With the above orders, our YTD order intake stands at ~Rs 10,000 crores, a stellar growth of 80% compared to last year,” the company’s CEO & Managing Director commented.
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Previous News:
Earlier on 24th July, KEC International bagged orders of Rs. 1,422 crores across its Transmission & Distribution (T&D) projects in India and the United States of America (USA).
The order consisted of 765 kV and 400 kV Transmission line orders in India, from Power Grid Corporation of India Limited (PGCIL), and the supply of Substation structures in the USA.
On 26th July, the company’s Board approved Rs. 4,500 crores fundraising through one or more QIP(s) and/or any other method.
On 23rd August, KEC International secured orders worth Rs. 1,079 crore under the T&D segment in India, the Middle East and the USA as well as under the cables businesses for the supply of various types of cables in India and overseas.
Financial:
The revenue from operations of KEC International stood at Rs. 4,512 crores in Q1 FY24-25, rising by 6.3 percent YoY from Rs. 4,244 crores in Q1 FY23-24,
and the net profit grew by 109.5 percent YoY to Rs. 88 crores from Rs. 42 crores, during the same period.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 244 crores in Q1 FY23-24 to Rs. 294 crore in Q1 FY24-25, representing a growth of 20.5 percent.
As of the first quarter of FY24-25, the consolidated order book reached Rs. 32,715 crore, with an order intake of Rs. 7,664 crore.
By June 30, 2024, the company’s net debt, including acceptances, was Rs. 5,596 crore—a reduction of more than Rs. 100 crore than the previous year—despite a revenue growth of nearly Rs. 2,000 crores, or 11 percent over the trailing 12 months.
Stock Performance:
The shares of KEC International have delivered positive returns of nearly 40 percent in one year and around 30 percent in the last six months. So far in 2024, it has given about 56 percent of positive returns.
About the company:
KEC International Limited is a global infrastructure Engineering, Procurement and Construction (EPC) major and an RPG Group Company, with a presence in the verticals of Power Transmission and Distribution (T&D), railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Established in 1979, RPG Enterprises has a turnover of close to $4.8 Billion, with diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation-led technology businesses.
Written by Shivani Singh
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