KEC International wins Rs 1,136-crore orders but shares slip, check details 

Shares of KEC International Ltd, a global infrastructure EPC major, slipped 5% today even as the firm said it has won multiple orders worth Rs 1136 crore. 

"KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,136 crores across its various businesses," the company said in an exchange filing.

KEC International shares fell 5.55% to Rs 1064 in the current session against the previous close of Rs 1127.60 on BSE. Market cap of the firm slipped to Rs 28,470 crore.

The civil construction stock has gained 74.77% in a year and 120% in two years. A total of 1.23 lakh shares of the firm changed hands amounting to a turnover of Rs 13.63 crore. 

KEC International shares have a beta of 0.9, indicating average volatility in a year.

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 44.6, signaling it's trading neither in the overbought nor in the oversold zone.

The details of the order are: 

Transmission & Distribution (T&D): The business has secured an order for a 765 kV Transmission line project in India, from Power Grid Corporation of India Limited (PGCIL).

Transportation

The business has secured a significant order in the prestigious Train Collision Avoidance System (TCAS) segment under ‘Kavach’ in India.

Oil & Gas Pipelines:

The business has secured a design, supply and build order for pipeline and associated works from a leading PSU in India.

Vimal Kejriwal, MD & CEO, KEC International said, “We are delighted with the multiple orders secured across our business verticals. The 765 kV order from PGCIL for evacuation of green energy has boosted our T&D order book in India. Our Transportation business has strengthened its presence in the growing TCAS segment under ‘Kavach’ to enhance the safety of Indian Railways with world class technology. The Oil & Gas Pipelines business has widened its footprint by securing its first order in the composite space (including design, supply and build). With these new orders, our YTD order intake has reached Rs. 20,600 crores, a growth of ~80% vis-à-vis last year..”

Net profit climbed 53% to Rs 85.4 crore in the Q2 against Rs 55.8 crore on a year-on-year basis. 

Revenue from operations rose 13.7% to Rs 5,113.3 crore in Q2 compared to Rs 4,499 crore in the corresponding period of the preceding fiscal.

EBITDA saw a 16.7% rise to Rs 320.2 crore in the last quarter over Rs 274.4 crore in the corresponding period in the previous fiscal.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables. The company is currently executing infrastructure projects in 30 plus countries and has a footprint in 110 plus countries (includes EPC, supply of towers and cables). It is the flagship company of the RPG Group.