KEC International secured new order of Rs 836 crore

KEC International bagged orders worth Rs 836 crore from domestic as well as international markets. The company’s total order won can be classified into transmission & distribution and cable business as follows.

KEC International secured order worth Rs 608 crore from Powergrid Southern Interconnector Transmission System, wholly owned subsidiary of Power Grid Corporation of India (PGCIL) for construction of transmission line associated with areas beyond Vemagiri. An order worth Rs 129 crore from Power Grid Jabalpur Transmission, wholly owned subsidiary of PGCIL, for construction of transmission lines associated with Vindhyachal -V project. It also has won orders of Rs 56 crore from Americas region. KEC International bagged an order of Rs 43 crore for supply of power cables, Extra High Voltage (EHV) and telecom cables.

Earlier in the month of March, KEC International had acquired orders worth Rs 1041 crore from both domestic and international markets. Out of which Rs 933 crore order from transmission and distribution business; and Rs 108 crore from cables business.

On financial front, KEC International’s revenue declined by 0.22 per cent to Rs 2059 crore in Q3FY16 as compared to same period in previous financial year. The company’s EBITDA boosted by 53.33 per cent to Rs 161 crore in Q3FY16 on a yearly basis. Its net profit dropped by 46.6 per cent to Rs 37.16 crore in Q3FY16 as compared to same period in previous fiscal year.

The share price of KEC International increased by 4.83 per cent on bourses in early trades; and is trading at Rs 125 on an intraday basis.

KEC International operates in the businesses of power transmission and distribution, and cables. The company is engaged in Engineering, Procurement and Construction (EPC). It operates in five verticals viz. power transmission and distribution; cables; railways; water resource management and renewables. Globally, KEC International has powered infrastructure development in more than 61 countries.