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A significant player in global infrastructure EPC and part of the RPG Group, has secured new orders worth Rs 1,100 crore for T&D projects across various regions, including India, the Middle East, Australia, and the Americas.
Key highlights of these new orders include:
– A 765 kV transmission line and 765 kV GIS substation in India from Power Grid Corporation of India Limited (PGCIL)
– A 132 kV transmission line in the UAE
– Supply of towers in Australia and the Americas
– Supply of hardware and poles in the Americas
In addition to these new orders, KEC International has recently secured contracts worth Rs 1,017 crore in the T&D and Renewables sectors. This follows earlier wins totaling Rs 2,027 crore, which included Rs 1,025 crore in T&D and Cables (covering projects such as a substation in India, a 225 kV project in West Africa, and towers and cables in the Americas) and Rs 1,002 crore in civil projects (including residential and defense official residences). The most recent contracts feature EPC projects and tower supply in the Middle East, along with their largest solar photovoltaic project (625 MWp) in Rajasthan, India, from a subsidiary of a prominent public sector renewable energy company.
With a market capitalization surpassing Rs 22,000 crore, KEC International continues to maintain a robust dividend payout of 35 per cent. The company reported stellar figures in its Q4FY24 and FY24 results. As of March 31, 2024, its current order book is valued at Rs 37,000 crore, including L1 orders worth Rs 7,000 crore. KEC International has amassed over Rs 6,000 crore in orders for FY25. The stock’s 52-week high stands at Rs 968.20, while its 52-week low is Rs 551.
Foreign Institutional Investors (FIIs) have increased their stake in KEC International to 12.45 per cent as of March 2024, up from 10.90 per cent in December 2023. The stock has surged 61 per cent from its 52-week low of Rs 551 per share and has delivered impressive returns of 600 per cent over the past decade. This mid-cap company is one to watch in the upcoming trading sessions.
