Shares of this small-cap company jumped around 3 percent in Tuesday’s trading session after receiving an order worth Rs. 1,304 crores across its various businesses. In one year, the shares have delivered more than 30 percent returns to its shareholders.
With a market capitalization of Rs. 16,375 crores, the shares of K E C International Ltd started Tuesday’s trading session on a higher note at Rs. 640 compared to its previous close of Rs. 623. During the trading session, the shares hit a high of Rs. 643.70, gaining around 3 percent and are currently trading at Rs. 637 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received an order worth Rs. 1,304 crores across its various businesses including Transmission and Distribution (T&D), Civil, and Cables.
The company secured an order to supply a 765 kV Transmission line and 765 kV GIS Substation orders in India, from Power Grid Corporation of India Limited (PGCIL), a 220 kV Transmission line order in SAARC and supply Towers, Hardware and Poles in the Americas.
Furthermore, the company secured an order in the Residential building segment in India and also secured orders for the supply of various types of cables in India and overseas.
Coming onto the company’s financial statement, the revenue increased marginally by 6 percent from Rs. 4,244 crores during the June quarter to Rs. 4,499 crores in the September quarter. In addition, the net profits zoomed by 33 percent from Rs. 42 crores to Rs. 56 crores during the same timeframe. Moreover, the company is set to announce its October-December results today.
As of September 2023, the company order book stood at Rs. 31,320 crores, which showcased a growth of 14 percent growth on a YoY basis.
Headquartered in Mumbai, K E C International Ltd was incorporated in 2005. The company is a part of the RPG group which is primarily engaged in the Engineering, Procurement and Construction business (EPC) relating to infrastructure products, projects and systems and they are also engaged in the related activities for power transmission, distribution, railway and other EPC businesses.
Written By Vaibhav Patil
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