Rs 42,000 crore order book and FIIs & DIIs increase stake: This cable company wins new orders worth Rs 1142,00,00,000
The stock is up by 74.3 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 775 per cent in a decade.
KEC International Ltd, a prominent global infrastructure EPC major under the RPG Group umbrella, has successfully secured new orders valued at Rs 1,142 crore across its diverse business segments. Within the Transmission & Distribution (T&D) domain, the company has clinched orders for notable T&D projects in both the Middle East and the Americas. These projects include a significant 380 kV Transmission line in Saudi Arabia and the supply of towers, hardware and poles in the Americas. Additionally, the railway business has secured an order for the construction of bridges and associated works for a railway line in the conventional segment within India. Furthermore, the Cables business has garnered orders for the supply of various types of cables in both the domestic Indian market and international destinations.
Earlier, the company informed that KEC Asian Cables Limited, a subsidiary of KEC International Limited, was incorporated on October 1, 2024. This incorporation is in line with the Company's previously announced plans for subsidiaries in its cable business. The cable subsidiary has an authorized capital of Rs 10 crore and a subscribed capital of Rs 10 lakh. KEC International Limited holds a 95 per cent stake in the subsidiary, while KEC Power India Private Limited, a wholly-owned subsidiary of KEC International Limited, holds the remaining 5%. The Cable Subsidiary will primarily focus on manufacturing various types of power cables, solar cables, aluminium conductors and fibre optic cables.
About the Company
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a 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+ countries and has a footprint in 110+ countries (including EPC, supply of towers and cables). It is the flagship Company of the RPG Group. RPG Enterprises, established in 1979, is one of India’s fastest-growing business groups with a turnover of USD 4.8 Billion. The group 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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KEC International Ltd had a market cap of over Rs 24,000 crore and has been maintaining a healthy dividend payout of 35 per cent. The company reported amazing numbers in its Quarterly Results (Q1FY25) and annual results (FY24). The company’s current order book stands at Rs 42,000 crore including the L1 orders as of June 30, 2024. Tenders under evaluation and in the pipeline of over Rs 1,50,000 crore.
As of September 2024, FIIs & DIIs have increased their stake to 13.14 per cent and 26.73 per cent respectively compared to 12.66 per cent and 25.29 per cent respectively in June 2024. The stock is up by 74.3 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 775 per cent in a decade. Investors should keep an eye on this mid-cap company for upcoming trading sessions.
Disclaimer: The article is for informational purposes only and not investment advice.