The share price of the small-cap stock rose 4 percent to an Intraday high of Rs 626 per share on Tuesday. After the company announced it won an order worth Rs 1,005 crores.
According to the filing of KEC International Ltd, Transmission and distribution (T&D) projects in India, the Middle East, Europe, Africa, and the Americas have been secured, including 220 and 400 kV Overhead Transmission lines in the Middle East, 110kV Transmission lines in Europe, and tower supply in the Middle East, Africa, and the Americas.
Additionally, a global steel producer awarded it a contract for the supply of hardware and poles in the Americas and 220kV cabling works in India. In India’s conventional segment, the railways business has acquired an order for 25 kV Overhead Electrification (OHE) and related works.
Vimal Kejriwal, MD & CEO of KEC International Ltd said, “We are especially excited about the order in the Railways, which further consolidates our order book in the conventional Railways segment with these orders; our year-to-date order intake stands at Rs 10,000 crore.”
The company has reported that net revenue increased by 10.7 percent year on year from Rs 4,064 crores in Q2FY23 to Rs 4,499.03 crores in Q2FY24. Their net profit rose 1.6 percent year on year, from Rs 55.24 crores in Q2FY23 to Rs 55.83 crores in Q2FY24.
The company’s Promoters hold a 51.88 percent stake in the company, with 11.25 percent owned by Foreign Institutional Investors, 9.72 percent owned by the General Public, and 27.15 percent owned by Domestic Institutional Investors.
KEC International Ltd is a small-cap company with a market capitalization of Rs 15,408 crores. The share price of the company has increased by 8.05 percent in the last six months and by 45 percent last year. Also, the company has maintained its debt-to-equity ratio at zero for the last five years.
KEC International Ltd’s primary business is Engineering, Procurement, and Construction (EPC) of infrastructure internal products, projects, and systems, as well as related activities for power transmission, distribution, railway, and other EPC businesses.
Written by Sriram KV