Rs 37,000 crore order book & FIIs increase stake: This engineering company bags new solar & EPC orders worth Rs 1100,00,00,000

The stock is up by 61 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 600 per cent in a decade.

KEC International Ltd, a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,100 crores for Transmission & Distribution (T&D) projects in India, Middle East, Australia and the Americas.

• 765 kV Transmission line and 765 kV GIS Substation orders in India, from Power Grid Corporation of India Limited (PGCIL)
• 132 kV Transmission line in the United Arab Emirates (UAE)
• Supply of Towers in Australia and the Americas
• Supply of Hardware and Poles in the Americas

The company recently secured a significant amount of new contracts totalling Rs 1,017 crore across its T&D and Renewables sectors. This comes on the heels of previous wins totaling Rs 2,027 crore, including Rs 1,025 crore in T&D and Cables (substation in India, 225 kV project in West Africa, towers and cables in the Americas) and Rs 1,002 crore in civil projects (residential projects and defence official residences). The latest T&D and Renewables contracts include EPC projects and tower supply in the Middle East, along with their largest ever solar photovoltaic project (625 MWp) in Rajasthan, India, from a subsidiary of a prominent public sector undertaking in renewable energy. The company has bagged over Rs 6,000 crore orders in FY25.

On Tuesday, shares of KEC International Ltd gained 0.20 per cent to Rs 887.35 per share with an intraday high of Rs 899.20 and an intraday low of Rs 881.70 from its previous closing of Rs 885.55 per share. The stock’s 52-week high is Rs 968.20 while its 52-week low is Rs 551.

KEC International Ltd had a market cap of over Rs 22,000 crore and has been maintaining a healthy dividend payout of 35 per cent. The company reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The company’s current order book stands at Rs 37,000 crore including the L1 orders worth Rs 7,000 crore as of March 31, 2024.

As of March 2024, FIIs have increased their stake to 12.45 per cent compared to 10.90 per cent in December 2023. The stock is up by 61 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 600 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. 

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