The orders include the supply of towers, hardware, and poles to customers in the Americas and the construction of 220 kV transmission lines in the Commonwealth of Independent States (CIS) region.
Vimal Kejriwal, MD and CEO of KEC International, said, “We are delighted with the continuous order wins in our T&D business. The order in CIS has reinforced our presence in this region and further strengthened our International T&D order book. Our subsidiary, SAE Towers, has secured multiple orders across the USA, Mexico and Brazil, demonstrating an uptick in the American T&D market. With these orders, our YTD order intake now stands at over Rs 17,300 crore, reflecting a remarkable growth of 75% vis-à-vis last year.”
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For the second quarter ending September 30, 2024, KEC International reported a 53% year-on-year (YoY) rise in net profit, which reached Rs 85.4 crore. In the same quarter of the previous year, the company posted a net profit of Rs 55.8 crore. Revenue from operations also saw a 13.7% increase to Rs 5,113.3 crore, compared to Rs 4,499 crore in Q2 of the previous fiscal year. EBITDA grew by 16.7% to Rs 320.2 crore from Rs 274.4 crore in the same period last year.KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major and the flagship company of the RPG Group. RPG Enterprises, established in 1979, has diverse business interests in the areas of infrastructure, tyres, pharma, IT, and speciality as well as in emerging innovation-led technology businesses.
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As per Trendlyne data, the average target price of the stock is Rs 1,019, which indicates a downside of 3% from the current market prices. The consensus recommendation from 24 analysts for the stock is a ‘Buy’.On Monday, KEC International’s shares closed at Rs 1,054.9, up 0.2% on the BSE, while the benchmark Sensex surged 0.96%. Its shares have surged 74% in 2024 to date and 155% over the past two years, with the company currently holding a market capitalization of Rs 28,081 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
