Rs 42,500 crore order book and FIIs & DIIs increase stake: Transmission & Distribution company wins significant orders of Rs 1704,00,00,000 crores from PGCIL
The stock is up by 92 per cent from its 52-week low of Rs 569.50 per share and gave multibagger returns of 960 per cent in a decade.
KEC International Ltd, a global infrastructure EPC major, an RPG Group Company, has secured prestigious turnkey orders of Rs. 1,704 crores in its Transmission & Distribution (T&D) business for the Design, Supply and Installation of 765 kV Transmission Lines and GIS Substations from Power Grid Corporation of India Limited (PGCIL).
Earlier, the company secured new orders of Rs 1,114 crore across its various businesses. Transmission & Distribution (T&D) business has secured orders for a 400 kV Transmission line in Oman and a supply of towers, hardware and poles in the Americas. The Civil business has secured orders in the industrial segment in India. The Railways business has secured an order for Metro Overhead Electrification (OHE) works in India's technologically enabled segment. Additionally, the Cables business has secured orders for the supply of various types of cables both domestically in India and internationally.
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 28,000 crore and has been maintaining a healthy dividend payout of 35 per cent. The company reported amazing numbers in its Quarterly Results (Q2FY25) and annual results (FY24). The company’s current order book stands at Rs 42,500 crore including the L1 orders as of September 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 92 per cent from its 52-week low of Rs 569.50 per share and gave multibagger returns of 960 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.