RPG Group company, KEC International has secured new orders worth Rs 1,050 crores across various businesses.
KEC International: Project details
Across the company’s renewable segment, the business has secured an order for a 100+ MW wind project. The scope of work includes a balance of plant package in the southern part of India, the company added. The name of the awarding entity has not been disclosed, but the company has added that it is from a renowned private developer.
Under the civil sector, KEC International has bagged an order in the buildings & factories (B&F) segment from an existing client for the execution of a downstream project in western India for a leading steel player, the company said in its regulatory filing.
For the transmission and distribution (T&D) segment, the company has secured orders for the supply of towers, hardware and poles in America. The company’s subsidiary, SAE Towers, has also secured tower supply orders in Mexico.
Further, the company’s cables and conductor business has secured orders for the supply of various types of cables and conductors in India and overseas markets, it added in its statement.
Commenting on these order wins, Vimal Kejriwal, MD & CEO, KEC International, said, “We are pleased with the new order wins across businesses, especially the maiden order in the wind energy segment secured by our renewables business, marking our entry into this fast-growing area of the renewable energy sector.”
He further added that the company’s civil business continues to expand its presence in the buildings and factories segment.
“Our civil business continues to strengthen its presence in the B&F segment with a large downstream project from a leading steel player. Our subsidiary, SAE Towers, has secured significant tower supply orders in Mexico, reflecting an uptick in the North American T&D market.”
Further, Vimal said the order wins will help the company achieve its targets.
“With these wins, our year-to-date order intake stands at ~Rs 19,300 crore, reaffirming our confidence in achieving our growth targets,” he said.
KEC International share price
Following these order winds, the company’s share price was up marginally in the intraday session. Over the past one month the company’s stock has delivered a return of over 6%.
However, on a year-to-date basis the company’s stock has declined by nearly 39%.