KEC International won orders worth Rs 1943 crore, majorly from its highest revenue generating segment of transmission and distribution that too mostly from international clients. Stock surged nearly 3% with the news.
KEC International, which is RPG Group’s global infrastructure EPC arm, has won orders worth Rs 1943 crore. The stock of KEC International surged nearly 3% with the news and is trailing near its 52-week high levels.
It is an add-on to the order book of Rs 11186 crore as on December 31, 2016. The orders secured are majorly from international clients, whereby the Company has forayed into the African market, and also strengthened its position in Middle East and America.
Company which derived nearly 76% of revenue from transmission and distribution business in Q3FY17 has secured orders worth Rs 1408 crore in the said space, out of which international orders are worth Rs 1224 crore.
International orders contain turnkey projects from Africa for construction of 225 kV transmission lines and 225/30 substations in Senegal. Secondly, it has received turnkey orders from Middle East to construct 400 kV overhead transmission lines in Jordan. It also secured few EPC orders in America.
The domestic transmission and distribution order stands at Rs 184 crore, received from PGCIL to construct 400/220 kV transmission lines in Chandigarh and Kerala.
KEC’s cable business that contributed nearly 14% to revenue in Q3FY17 received orders worth Rs 85 crore for EHV cabling.
Lastly company’s solar business that contributed nearly 3% in Q3FY17 to the revenue also secured EPC orders worth Rs 450 crore for 100 MW of ground mount, as well as roof top solar power projects.
