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KEC International Secures Rs 1,303 Crore Transmission Orders
KEC International has won new construction and equipment orders worth Rs 1,303 crore.
The projects are related to moving electricity from one place to another.
Some work will happen in Northern India and Saudi Arabia.
The company will also supply equipment in the Americas.
Its cables and conductors business won additional domestic and international contracts.
These new deals take its order total for the year above Rs 7,600 crore.
The company’s chief executive said demand remains strong in important markets.
However, KEC International’s shares fell 1.7% on Friday and have also declined over longer periods.
KEC International secured new orders worth Rs 1,303 crore in transmission and distribution, and cables and conductors.
The projects span India, the Middle East, America, and other domestic and international markets.
Orders include a 400-kilovolt transmission line in Northern India and 380-kilovolt transmission lines in Saudi Arabia.
The company will also supply towers, hardware, poles, cables, and conductors under the contracts.
KEC International’s year-to-date order intake has risen above Rs 7,600 crore, while its shares closed at Rs 406.40 on the NSE.
- Who
- KEC International, an RPG Group company, and its Managing Director and CEO Vimal Kejriwal.
- What
- The company secured Rs 1,303 crore of transmission and distribution, cables, and conductors orders.
- Where
- The projects cover India, the Middle East, Saudi Arabia, and the Americas.
- When
- The announcement was reported after the company’s Friday trading session; no calendar date was provided.
- Why
- The orders are intended to support the company’s growth and expand its transmission and distribution business across key markets.
Key facts
- Order value
- Rs 1,303 crore
- Business areas
- Transmission and distribution; cables and conductors
- Transmission projects
- A 400-kilovolt line in Northern India and 380-kilovolt lines in Saudi Arabia
- Year-to-date order intake
- More than Rs 7,600 crore
- NSE closing price
- Rs 406.40
- Friday share move
- Down 1.7% from the previous close
- Six-month share performance
- Down 26%
Quotes
Vimal Kejriwal
Managing Director and CEO of KEC International
“Our India T&D business has secured a prestigious order from an existing private client for a transmission line project to evacuate power from a hydroelectric plant in Northern India. The International T&D business has further strengthened its presence in the Middle East with multiple order wins in Saudi Arabia.”
financialexpress.com
“With these orders, our YTD order intake stands at over Rs 7,600 crores. These orders will play a key role in driving our targeted growth going forward.”
financialexpress.com
Sources
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