KEC International secures new orders worth ₹1,423 crore from Saudi Arabia, stock up 2%

KEC International, on Thursday, said it has secured new orders of ₹1,423 crore for the design, supply and installation of 380 kilovolt (kV) transmission lines in Saudi Arabia. Shares of the firm were trading over 2% higher on Friday following the announcement.

Vimal Kejriwal, MD & CEO at KEC International said the orders from Saudi Arabia along with the earlier orders in UAE and Oman have enhanced the firm’s international transmission and distribution (T&D) order book. “With these orders, our YTD order intake stands at over ₹11,300 crore, an impressive growth of approximately 75% compared to last year,” he said.

KEC International recently secured new orders worth ₹1,079 crore in T&D and cables businesses. It involves 765 kV/ 400 kV transmission lines order from a reputed private developer in India and 230/132 kV transmission line orders in Saudi Arabia and Oman. The company said orders also pertained to upgradation of an existing 400 kV transmission line in the United Arab Emirates as well as supply of towers, hardware and poles in Americas.

Along with this, the business has secured orders for supply of various types of cables in India and overseas.

Meanwhile, during the first quarter of fiscal year 2025, KEC International reported a 6% year-on-year (YoY) rise in its revenues at ₹4,512 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 20% YoY to ₹294 crore while EBITDA margins improved to 6.5% from 5.8% a year ago.

Net profit rose 107% YoY to ₹88 crore during the quarter while profit margin improved to 1.9%. The company’s EBITDA for Q1FY25 includes an amount of ₹24 crore received towards an arbitration award.

The company’s net debt including acceptances stood at ₹5,596 crore as of June 30, 2024, registering a reduction of more than ₹100 crore compared to Jun 30, 2023.

Shares of the company have risen over 66% since the beginning of the year. The stock has gained nearly 49% in the last one year.