KEC International Shares Soar on Fresh Order Wins Worth Rs 1,150 Crore

Shares of KEC International climbed 4.6% to an intraday high of Rs 723.35 on the BSE on Monday, December 15, after the company announced fresh order wins worth Rs 1,150 crore, anchored by its India transmission and distribution (T&D) business, which secured its largest-ever domestic contract. The RPG Group firm said the orders were received in the normal course of business. The India T&D vertical won a large composite project from a leading private-sector client. The contract involves the construction of a 765 kV transmission line along with a 765/400 kV air-insulated substation, to be executed on a turnkey basis. Separately, KEC’s civil engineering division secured an order for additional civil and structural works at a 150 MW thermal power plant. The latest win further strengthens the company’s presence in the power infrastructure space, particularly in thermal projects. Commenting on the development, Vimal Kejriwal, MD and CEO, said the company was encouraged by the order inflows in India, especially the sizeable composite order bagged by the India T&D business for renewable energy evacuation. He added that the order significantly raises the share of private-sector clients in the India T&D order book, while the civil business has expanded its footprint in the growing thermal power segment. With these additions, KEC’s year-to-date order intake has crossed Rs 18,000 crore, reinforcing confidence in meeting its annual order intake target. For the quarter ended September, KEC reported a 19% year-on-year rise in revenue, led by a strong showing in the T&D segment, which posted growth of 44%. This was partially offset by muted performance in the civil construction business. Swipe Left For Next Video The civil segment faced headwinds from monsoon-related disruptions, labour constraints and delays in select water projects, mainly due to slower payment releases, the company said.