Amidst the drastic fluctuations in the Indian indices, the share price of a global infrastructure EPC major moved up by 6.5 percent on BSE to hit an intraday high at Rs. 742.8 on Wednesday, after the company secured orders worth Rs. 1,002 crore in its civil business.
With a market cap of Rs. 18,466.66 crore, at 11:25 a.m., the shares of KEC International Limited were trading in the green at Rs. 719.9, up by 3.23 percent.
According to the regulatory filings of June 5th on the stock exchanges, KEC International, an RPG Group company, announced securing orders of Rs. 1,002 crore in its Civil business.
The first order includes the residential projects in Northern and Southern India from renowned real estate developers. The second order consists of the construction of official residences and associated facilities for senior Defence officials in India.
“We are pleased with the new orders in our Civil business, including our largest order in the Residential segment. With this order in Northern India, KEC is now constructing over 70 high-rise buildings for marquee clients across the country,” the company’s CEO & Managing Director commented.
Earlier on 29th April, KEC secured orders of Rs. 1,036 crore across its various businesses including orders for Transmission & Distribution (T&D) projects in the Middle East and Americas.
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.
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.
The stock has delivered positive returns of nearly 35.3 percent in one year and around 16.3 percent in the last six months. So far in 2024, it has given about 18.3 percent of positive returns.
KEC International Limited is a global infrastructure Engineering, Procurement and Construction (EPC) major, with a presence in the verticals of Power Transmission and Distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Written by Shivani Singh
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