KEC International secures new contracts, shares rise by 5% By Investing.com

KEC International, a global infrastructure Engineering, Procurement and Construction (EPC) major, has secured new contracts valued at Rs 1,315 crore ($176 million), leading to a 5% increase in its share price on Tuesday. The orders span across the company’s various business segments including transmission & distribution (T&D) and cables.

The T&D division won orders for a 765 kV transmission line and a 765 kV AIS substation in Rajasthan from Power Grid Corporation of India Limited (PGCIL). It also bagged tower supply contracts in the Middle East, Australia, and the Americas, as well as hardware and pole supplies in the Americas.

The Cables division landed contracts for various types of cables both domestically and internationally. CEO Vimal Kejriwal highlighted the substantial growth of their India T&D order book and the global diversification of their tower sales business across six continents.

This comes after KEC’s civil business secured a prestigious turnkey project worth Rs 1,145 crore ($153 million) for the design, supply and installation of a 380 KV overhead transmission line in Saudi Arabia in September. In August, it had also won orders amounting to Rs 1,007 crore ($134 million) across different sectors, including the construction of a multi-speciality hospital in India.

These recent wins underscore KEC International’s robust growth trajectory and its ability to secure significant contracts both domestically and globally. According to InvestingPro data, the company has an adjusted market cap of Rs 172.03 billion and has seen a revenue growth of 30.24% in the last trailing twelve months ending in Q1 2024. This significant growth is reflected in the company’s share price, which has seen a total return of 199.55% over the past year.

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