In Thursday’s session, the share price of a global infrastructure EPC major moved up by 9.05 percent on BSE to hit an intraday high at Rs. 941.05, after the company secured orders worth Rs. 1,025 crore in T&D and Cables businesses.
With a market cap of Rs. 23,158.5 crore, at 01:11 p.m., the shares of KEC International Limited were trading in the green at Rs. 900.8, up by 4.4 percent, compared to its previous closing price of Rs. 862.95.
What’s the news:
According to the regulatory filings of June 26th on the stock exchanges, KEC International, an RPG Group company, announced securing new orders of Rs. 1,025 crore in T&D and Cables businesses.
In the Transmission & Distribution (T&D) segment, the company has secured a 765 kV GIS Substation in India from Power Grid Corporation of India Limited (PGCIL), 225 kV Composite project including transmission line, substations & underground cabling in West Africa and supply of towers, hardware and poles in Americas.
The cable segment received orders for the supply of various types of cables in India and overseas.
“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 Rs. 4,000 crores, with a staggering growth of over 70% vis-à-vis last year,” the company’s CEO & Managing Director commented.
Previous Order:
Earlier on 7th June, KEC International bagged orders of Rs. 1,061 crores across its Transmission & Distribution (T&D), Railways and Cables business in India and overseas.
With this order, the company’s 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.
Financial & Stock Performance:
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.
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.
The stock has delivered positive returns of nearly 64.4 percent in one year and around 53 percent in the last six months. So far in 2024, it has given about 50 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, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Established in 1979, RPG Enterprises has a turnover of close to US$ 5 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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