KEC International share price hits all-time high on securing transmission & distribution order worth ₹1,704 crore

The stock climbed to a record high of ₹1,094.70 apiece after jumping 7% on the NSE in the early trade. At 9:57 am, it was up 4.27% to ₹1,066.75 per share.

The market capitalisation stands at ₹28,543.30 crore.

KEC International wins orders worth ₹1,704 crore

In the post-market hours on Wednesday, KEC International announced that it has secured turnkey orders valued at ₹1,704 crore in its transmission and distribution business to set up 765 KV transmission lines and GIS substations from Power Frid Corporation of India Ltd.

On the order win, Vimal Kejriwal, Managing Director and Chief Executive Officer of KEC International, said, "We are delighted with the continuous inflow of orders, especially in our T&D business. These 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business. With these orders, our YTD order intake now stands at Rs. 16,300 crores, reflecting an impressive growth of over 60% compared to last year."

On November 25, the company won orders worth ₹1,114 crore across its various businesses.

It bagged orders in the transmission and distribution business in the Middle East and the Americas. It secured a 400 kV transmission line in Oman and a tower and hardware supply order in the Americas.

It also won orders in the industrial and cable business segment in India.

In the second quarter of the current fiscal year, the company had posted a 53% increase in profit after tax (PAT) to ₹85.4 crore compared to ₹55.8 crore net profit in the year-ago period. The revenue from operations increased 13.7% year-on-year (YoY) to ₹5,113.3 crore.

KEC International Ltd, which is presently executing infrastructure projects in over 30 countries and has a footprint in more than 110 countries, is a global infrastructure Engineering, Procurement and Construction (EPC) major.