Tag: KEC International

KEC International secures new orders worth ₹1,036 crore across diverse business verticals

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Engineering firm KEC International Ltd on Monday (April 29) said it has secured new orders totalling ₹1,036 crore across its diverse business verticals.

The Transmission & Distribution (T&D) segment secured orders for T&D projects in the Middle East and Americas regions. Notably, the company will be involved in setting up Overhead Transmission lines in the United Arab Emirates (UAE).

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Additionally, KEC International will supply towers, hardware, and poles for projects in the Americas, showcasing its global reach and capabilities in the transmission and distribution domain.

In the railways sector, KEC International secured an order for additional work in the conventional segment within India. Furthermore, the company’s cable business secured orders for the supply of various types of cables both domestically and overseas.

Shares of KEC International Ltd ended at ₹731.30, up by ₹5.00, or 0.69% on the BSE.

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KEC International shares gain most since June 2015, sees orders worth ₹25,000 crore in FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of KEC International gained as much as 14% on Thursday, marking their biggest single-day gain since June 2015 after the company won orders for various businesses.

The company, on Wednesday, secured new orders worth ₹816 crore across businesses.

KEC International’s Civil business won orders for setting up infrastructure projects like a steel plant, a cement plant and a plant for Carbon Derivatives in India.

The Transmission & Distribution business also won orders for the supply of towers in the US.

Additionally, the cables business had secured orders for supply of various types of cables in India and overseas.

These order wins took the company’s total order intake for financial year 2024 to ₹18,102 crore. However, the full year figure fell short of the company’s guidance of ₹20,000 crore.

KEC International’s MD & CEO Vimal Kejriwal told CNBC-TV18 on Thursday that they had earlier spoken about ₹20,000 crore in order inflow which was then revised to ₹18,000 crore to ₹20,000 crore. “At least we managed to cross the lower level (of the guidance),” he said.

Kejriwal mentioned that the company is the lowest bidder (L1) in projects worth nearly ₹5,000 crore but some of them are stuck due to the imposition of the Model Code of Conduct ahead of the Lok Sabha elections, which begin on November 19.

KEC International is guiding for ₹25,000 crore in total order inflow in financial year 2025, with EBITDA margin ranging between 7.5% to 8%. For financial year 2026, Kejriwal expects the margin to be between 9% to 10%.

However, the company sees no signs of debt reduction anytime soon. Kejriwal thinks that the company may have to borrow more to fund growth.

“FY25, we don’t expect the absolute debt to go down because what will happen is that we are talking about a 15% growth in revenue,” he said, but added further that absolute debt will remain and also interest as a percentage of debt will come down by at least 50 basis points as working capital improves.

“Hopefully if RBI does something and rates start coming down, then that could be an additional reduction in our interest costs,” Kejriwal added.

Shares of KEC International are trading 13% higher at ₹823.50. The stock has risen 80% over the last 12 months. The last instance of the stock gaining over 13% in a single day was back in June 2015, when it gained 17%.

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KEC International gains on bagging orders worth ₹1,004 crore for its multiple businesses

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KEC International Ltd shares gained more than 2% on Friday after the company announced bagging new orders worth ₹1,004 crore across its multiple business verticals.

The global infrastructure engineering, procurement and construction (EPC) firm has secured new orders worth ₹1,004 crore across its different businesses, including the Transmission and Distribution (T&D), Civil construction, Railways and Cables segments.

With the latest order win, KEC International’s order intake on a year-to-date basis has reached approximately ₹17,500 crore.

In the Transmission and Distribution (T&D) business segment, KEC International has won orders in India as well as the Americas. This is a composite order for the construction of transmission lines, substations and underground cabling in India, as well as the supply of towers, hardware and poles in the Americas.

The company’s Civil business has received an order from a renowned real estate developer in India, for a residential project, while the Railways business has secured an order for 2 x 25 kV Overhead Electrification (OHE), along with associated works for speed upgradation in India.

KEC International’s Cables business has received a maiden order for the supply of power transmission conductors (ACSR and AL-59) from a reputed government utility, along with another order for the supply of various types of cables.

The company has received a breakthrough order for supply of power transmission conductors, a feat that aligns with KEC International’s strategy of backward integration and capitalizing opportunities within the increasingly high demand for power transmission conductors globally.

“The consistent inflow of orders in T&D has significantly bolstered our order book, particularly within India. Our Civil business has further widened its presence in the residential segment with the addition of an esteemed client. We are also enthused with the Railway order in the Semi High-Speed Rail under Mission ‘Raftaar’,” said KEC International’s MD and CEO, Vimal Kejriwal.

Shares of KEC International were trading 0.40% higher at ₹665.90 apiece on NSE at close.

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KEC International bags engineering orders worth ₹2,257 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Engineering firm KEC International Ltd on Wednesday (March 13) said the company has received orders worth ₹2,257 crore across its various businesses.

In the transmission & distribution (T&D) segment, KEC International has clinched orders for prestigious projects both in India and the Americas. In India, the company secured orders for the construction of 765 KV transmission lines and substations from Power Grid Corporation of India Ltd (PGCIL).

Additionally, in the Americas, KEC International will be supplying towers, hardware, and poles, reinforcing its foothold in the region. In a notable milestone, KEC International has also secured its first international order for an oil & gas pipeline laying project, expanding its presence and expertise in this critical sector.

The civil segment witnessed a boost with the acquisition of an order from a leading steel player in India within the metals & mining segment. Further, KEC International’s cable business has secured orders for the supply of various cable types, both domestically and internationally.

Shares of KEC International Ltd ended at ₹690.80, down by ₹43.60, or 5.94% on the BSE.

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KEC International retains FY24 order intake guidance amid challenges

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KEC International, a construction engineering company and manufacturer of electric power transmission towers, is hopeful of achieving its  ₹20,000 crore order inflow guidance for FY24. As of February 7, the total order inflow was around ₹14,000 crore.

Speaking to CNBC-TV18, Vimal Kejriwal, MD & CEO of the company said, “We are actually significantly short of order intake target, but we have roughly L1 (lowest bidder) sub ₹7,000 crore. We are reasonably confident that most of them should get converted and we should be able to, achieve our target of ₹20,000 crore.”

In an earlier interaction, Kejriwal had stated that KEC typically secures one out of every six orders it pursues.

The company projected an order intake of around ₹25,000 crore for the next financial year (FY25). However, Kejriwal pointed out the challenges posed by delays in railway infrastructure projects and heightened competition within the sector, that are leading to slower-than-expected order intake.

The expected surge in private sector capital expenditure (capex) has also not materialised, he noted.

He also pointed out that the company has started becoming a lot more quality conscious in order intake and that also had a marginal impact on order intake.

The company has a revenue guidance of ₹20,000 crore for FY24 and ₹23,000 crore for FY25.

On February 7, KEC won new orders worth ₹1,175 crore across its transmission and distribution, civil and solar businesses.

Kejriwal aims for 6.5% earnings before interest, tax, depreciation, and amortisation (EBITDA) margin by the end of the financial year 2024, with expectations of improvement to 7.5% in FY25.

The Mumbai-based company, a subsidiary of RPG Enterprises, has a market capitalisation of ₹18,614.48 crore. Is shares have risen 61% over the last year.

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KEC International wins orders worth ₹1,175 crore, taking total order inflow past ₹14,000 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KEC International on Wednesday, February 7, announced that it had won new orders worth ₹1,175 crore across its transmission and distribution, civil and solar businesses.

With this, KEC International’s year-to-date order intake stands at over ₹14,000 crore,  the company’s managing director and CEO Vimal Kejriwal said.

Under the transmission and distribution business, the company said it had secured orders for projects in India and America — 765 kV transmission line and 765 kV GIS substation orders in India from Power Grid; and supply of transmission hardware in the American continent.

KEC International also bagged an order in the residential building segement and another one for solar projects in India.

The company’s managing director and CEO said the consistent orders in transmission and distribution, particularly from Power Grid, has significantly enhanced KEC International’s India T&D order book. “The civil business continues to make significant strides as it wides its footprint in the residential building segment by securing another repeat order from a marquee real estate developer. We are also encouraged by the order in solar business from a leading auto-ancillary company in India,” he said.

Last week, Kejriwal told CNBC-TV18 that the company is projecting an order intake of approximately ₹25,000 crore during the next fiscal. He highlighted the company’s historical success rate, noting that typically, they secure one out of every six orders they pursue. Therefore, considering a tender pipeline worth around ₹130,000 crore across various sectors such as transmission and distribution (T&D) and railways, Kejriwal envisages a substantial portion of these tenders translating into orders for the company.

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KEC International forecasts order intake of ₹25,000 crore for FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Vimal Kejriwal, Managing Director and CEO of KEC International is projecting an order intake of approximately ₹25,000 crore during the financial year 2025 (FY25).

He highlighted the company’s historical success rate, noting that typically, they secure one out of every six orders they pursue. Therefore, considering a tender pipeline worth around ₹130,000 crore across various sectors such as transmission and distribution (T&D) and railways, Kejriwal envisages a substantial portion of these tenders translating into orders for the company.

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Kejriwal anticipates a significant part of the L1 order, valued at ₹8,000 crore, to get converted in the fourth quarter (Q4) of the fiscal year.

While the aim is to achieve an 8% margin in the fourth quarter, he said there may be challenges leading to a slightly weaker performance. For FY24, margin will be 20-25 basis points lower than the company’s initial guidance of 7%.

The Mumbai-based company had guided for the top-line growth of 12-15%. Kejriwal projected a total revenue of approximately ₹20,000 crore for FY24, indicating a growth rate slightly above the previously anticipated 15%.

The market capitalisation of KEC International is ₹16,146 crore. Industry peers include RVNL, IRCON, among others. The stock has gained more than 44% over the past year.

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KEC International shares gain on ₹1,566-crore order win

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of RPG Group firm KEC International Ltd rose in Thursday’s trade after the company said it received new orders worth ₹1,566 crore across its various businesses. The stock gained 3% to hit a day’s high of ₹605.9 against the previous close of ₹589.9 on NSE.

Technically, the relative strength index (RSI) of the KEC International stock stands at 40.9, signaling it’s trading neither in the overbought nor in the oversold zone. The counter has a beta of 0.3, indicating very low volatility in a year.

The stock is trading higher than the 200 day but lower than the 5 day, 10 day, 20 day, 30 day, 50 day and 100 day moving averages.

In a year, the stock has gained 25% and risen 22% since the beginning of 2023.

Details of the orders received are given below:

Transmission & Distribution (T&D)

The business has secured orders for T&D projects in India and America:
– 400/220 kV Transmission lines and 220/132 kV GIS and AIS Substation orders in India
– Supply of towers, hardware and poles in America

Civil

The business has secured an order in the commercial building segment in India.

Oil & Gas Pipelines

The business has secured an order for composite works for an oil terminal station in India.

Cables

The business has secured orders for supply of various types of cables in India and overseas.

“We are happy with the new order wins, especially the significant orders in the T&D business. The momentum in our tower supply orders especially in North America is indicative of the growing demand for our product offerings in the region,” said Vimal Kejriwal, MD & CEO, KEC International Ltd.

“Our Civil business has further expanded its presence in the commercial building segment with an order from a reputed real estate developer for a hybrid high-rise structure. The Oil & Gas Pipeline business has strengthened its order book by securing its second order for composite station works,” Kejriwal said.

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KEC International clinches orders worth ₹1,315 crore across global operations

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Engineering firm KEC International Ltd on Monday (October 16) said it has secured new orders amounting to ₹1,315 crore across its diverse business verticals.

In the transmission and distribution (T&D) sector, KEC International has landed a series of notable projects spanning India, the Middle East, Australia, and the Americas.

These projects include the installation of a 765 kV Transmission line and a 765 kV AIS Substation in India, commissioned by the Power Grid Corporation of India Ltd (PGCIL).

Additionally, the company will supply transmission towers in the Middle East, Australia, and the Americas, along with hardware and poles in the Americas, further bolstering its presence in these regions, KEC International Ltd said.

Simultaneously, KEC International’s cables business segment has secured substantial orders for the supply of various types of cables, both within India and overseas.

Vimal Kejriwal, Managing Director and CEO of KEC International, said, “We are delighted with the new order wins, particularly the orders from PGCIL in Rajasthan. These orders have significantly enhanced our India T&D order book. We are also enthused by the tower supply order from Australia, which is a testament to our dedicated focus on expanding and diversifying the tower sales business geographically. In a noteworthy achievement, our tower supply business footprint now extends across six continents.”

Shares of KEC International Ltd ended at ₹653, down by ₹1.60, or 0.24%, on the BSE.

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KEC International wins its second order in last 24 hours – Check more details here

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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KEC International on Wednesday announced that the company has secured a turnkey order of Rs 1,145 crore in the Kingdom of Saudi Arabia (KSA). The company has secured the project in its Transmission & Distribution (T&D) business.

Under the project, the company will be responsible for designing, supplying and installation of 380 kV Overhead Transmission Line in KSA.

With this order, the company’s year to date (YTD) order intake has surpassed Rs 7,500 crores, which is a growth of 30 percent vis-à-vis last year.

“With this order, Saudi Arabia continues to be a major growth driver in the Middle East region. This strategic project holds immense significance for both NEOM and Saudi Arabia, as it plays a pivotal role in developing the power infrastructure required for the development of NEOM – a visionary city in Saudi Arabia,” says Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd.

Earlier on September 12, 2023, the company has received new orders worth Rs 1,012 crore across its businesses, namely civil, transmission & distribution (T&D) and cables.

KEC International secured orders worth Rs 2,072 crore across various businesses in August 2023. It won orders worth Rs 1,042 crore in July 2023 and this was the month when the company forayed into the international market in its railway business.

Shares of KEC International were trading 2.04 percent higher at Rs 678.80 per share today on NSE at 3:19 pm.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow