KEC International Wins Orders Totaling Rs 1,704 Crore From Power Grid

KEC International Ltd. on Wednesday announced that it has secured transmission and distribution orders of Rs 1,704 crore from Power Grid Corp.

The turnkey orders involve designing, supplying, and installing 765 kV transmission lines and GIS substations, according to stock exchange filings.

Managing Director Vimal Kejriwal expressed delight “with the continuous inflow of orders, especially in our T&D business.”

He added, “These 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business.”

The top executive, who is also the chief executive officer, added, “With these orders, our YTD order intake now stands at Rs 16,300 crores, reflecting an impressive growth of over 60% compared to last year.”

This is the second time in the current week that KEC International has announced a slew of huge orders.

On Monday, the RPG Group company had stated that it had secured new orders adding up to Rs 1,114 crore across its various businesses.

While one of the orders involves setting up a 400 kV transmission line in Oman, another one is for supplying towers, hardware, and poles in the Americas.

In addition to power transmission and distribution, the company's various businesses include civil, railways, urban infrastructure, renewables, oil and gas pipelines, and cables.

The EPC major is currently executing infrastructure projects in over 30 countries and has a footprint across 110 countries.

For the second quarter of the current fiscal, KEC International had posted a 53% growth in net profit to Rs 85.41 crore. In comparison, during the previous fiscal's similar period, the company’s net profit stood at Rs 55.83 crore.

Shares of KEC International Ltd. closed 0.03% lower at Rs 1,023.45 apiece on the BSE, compared to a 0.29% advance in the benchmark Sensex.