KEC International wins orders worth Rs 1,029 crore

Mumbai: RPG group flagship KEC International Ltd has won orders worth Rs.1,029 crore in its transmission, distribution, cables and renewables businesses, the firm said in a filing to BSE on Wednesday.

KEC is an engineering, procurement and construction (EPC) company with presence in power transmission and distribution, railways, water and renewable energy.

In the transmission and distribution business the firm won orders worth Rs.207 crore from Power Grid Corp. of India Ltd for the supply and installation of transmission lines in Jammu and Kashmir.

The company also won several international orders in the transmission space. It secured a Rs.253 crore order from Zambia and orders worth Rs.222 crore from its wholly owned US subsidiary SAE Towers Holdings Llc. The SAE Towers order included a Rs.115 crore engineering, procurement and construction (EPC) contract in Brazil.

The company has started securing EPC orders in Brazil in the last six months and is focussing strongly on this geography. “Going forward, we hope that growth in Brazil will be good, and we have increased capacities of all our plants including our Mexico plant,” said R.D. Chandak, managing director and chief executive officer at KEC.

The company’s cables business secured orders worth Rs.273 crore for the supply of power and telecom cables.

In the renewables business segment the company secured its first turnkey order for a solar photo voltaic (PV) power plant. The total value of the order is Rs.10 crore.

KEC International Ltd gained 2.75% to Rs.104.60 per share on Wednesday on the BSE at 10.56am, while the benchmark index, Sensex lost 0.02% to 26,265.67 points.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.