KEC International bags orders worth Rs 668 crore

KEC International, a global infrastructure EPC major, an RPG Group Company has secured new orders of Rs 668 crore in its Transmission & Distribution, Cables and Renewables (solar) businesses.

In transmission & distribution segment, the company has secured orders worth Rs 397 crores in India and America.

Mr. Vimal Kejriwal, MD & CEO, KEC International said, "We received an order from Transmission Corporation of Telengana for supply and construction of 400kV transmission line in southern India. On the international front, SAE Towers, a subsidiary in America, secured supply orders in Mexico, Brazil and US".

In this business, the Company has secured orders of Rs 160 crore for the supply of Power and Telecom Cables.

In this business, the Company has also secured orders of Rs 111 crore for design, engineering, supply, erection, testing and commissioning of Solar PV power plant.

The stock hit a high of Rs 149.45 and a low of Rs 143.25 so far during the day. The stock today closed at Rs 144.95, up by Rs 1.75 or 1.22% from its previous closing of Rs 143.20 on the BSE.

In the month of August, the company secured orders worth Rs 838 crore in transmission and distribution as well as telecom cable businesses.

In Q1FY16, the company reported more than double in the consolidated net profit at Rs 30.40 crore as against Rs 11.40 crore in the corresponding quarter of previous year. The EBITDA margin for the quarter increased to 7.5% as compared to 5.9% in the previous year's corresponding quarter. The Net revenues rose by 9% YoY halting at Rs 1,878 crore.