KEC International Secures Order Worth Rs 1,097 Crore From Multiple Customers

KEC International Ltd. received an order worth Rs 1,097 crore from multiple customers across the globe.

The company will provide towers, hardware, and poles across the United States, Mexico, and Brazil while it will set up 400 kV transmission lines across the United Arab Emirates, according to an exchange filing on Friday.

"72% of the order intake this year (for KEC) is from our transmission and distribution business. With these orders, our year-to-date order intake now stands at over Rs. 19,500 crores, reflecting a remarkable growth of approximately 70% vis-à-vis last year," according to Vimal Kejriwal, managing director and chief executive officer at KEC International Ltd.

On Dec. 30, the infrastructure giant bagged a project worth 1,073 crore across its diverse business segments. The order was laid out across its multiple sectors, including transmission and distribution, civil, transportation, and cables.

KEC International reported a revenue of Rs 5,113.31, up 13.7% for the second quarter of the current fiscal 2025 as compared to Rs 4,499.03 crore for the same quarter in the corresponding year.

The RPG Group-backed company's profit surged by 53% to Rs 85.41 crore for the July-September quarter as against Rs 55.83 crore for the same period last year.

The company's earnings before interest, tax, depreciation, and amortisation rose to Rs 320.24 crore, representing a 17% rise for the three months ended Sept. 30, 2024, in contrast to Rs 274.32 crore for the year-ago period. Margins expanded at 6.3% for the second quarter as against 6.1% for the same quarter of the previous fiscal 2025.

Shares of KEC International closed 0.92% higher at Rs 1,223 apiece on the National Stock Exchange, compared to a 0.76% fall in the benchmark Nifty. The share price has fallen 104.84% in the last 12 months.

Out of the 24 analysts tracking the company, 13 have a 'buy' rating on the stock, seven recommend 'hold,' and four maintain 'buy,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 15.8%.