KEC International shares soar nearly 8% on securing large orders

Here is the breakdown of the orders:

• T&D Business: Secured orders for an EPC project and supply of towers in the Middle East.
• Renewables Business: Secured an order for a 625 MWp solar PV project in Rajasthan from a subsidiary of a prominent public sector undertaking (PSU) in the renewable power generation sector.

The company did not provide a breakup of the orders between the two businesses.

“The solar order has reaffirmed our confidence that the renewable EPC business will contribute significantly to our future growth,” said Vimal Kejriwal, MD & CEO of KEC International, adding, “The T&D orders in the Middle East have further strengthened our order book in the international T&D market.”

Kejriwal added that the company’s year-to-date order intake has crossed Rs 5,000 crore, representing a 50% growth compared to last year.

KEC, the flagship company of the RPG Group, has presence in the verticals of power T&D, civil, railways, urban infrastructure, renewables, oil and gas pipelines, and cables.

The company says it is currently executing infrastructure projects in 30+ countries and has a footprint in 110+ countries.

KEC shares are up 186% over the past five years, riding on the back of its strong financial performance: the company’s revenues have nearly doubled from around ₹12,000 crore to almost ₹20,000 crore.

The company enjoys a market capitalization of around ₹25,000 crore. In terms of valuations, the shares are trading at a trailing twelve month (TTM) price-to-earnings ratio of around 70.