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KEC International Secures ₹1,423 Cr Transmission Line Order in Saudi Arabia

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Synopsis:

KEC International secures a ₹1,423 crore contract for 380 kV transmission lines in Saudi Arabia, boosting its international order book. The company’s YTD orders stand at ₹11,300 crore, marking a 75% growth from last year.

KEC International Ltd, a leading infrastructure engineering, procurement, and construction (EPC) company, has announced a significant achievement in its international operations. The company secured new orders worth ₹1,423 crore for the design, supply, and installation of 380 kV transmission lines in Saudi Arabia. This development strengthens KEC’s presence in the Middle East’s power transmission sector, further cementing its leadership in the region.

Strengthening the transmission and distribution (T&D) portfolio

The new order in Saudi Arabia adds to KEC International’s robust transmission and distribution (T&D) portfolio, a sector where the company has been continuously expanding its footprint. Vimal Kejriwal, Managing Director and CEO of KEC International expressed satisfaction with the consistent inflow of T&D orders, stating, "These orders, along with previous ones from the UAE and Oman, reinforce our leadership in the Middle East."

KEC's year-to-date (YTD) order intake now stands at ₹11,300 crore, reflecting an impressive 75% growth compared to the same period last year. The company’s success in securing contracts in both domestic and international markets has propelled this growth, with Saudi Arabia playing a pivotal role in its international strategy.

KEC INTL. LIMITED

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1164.5-29.55 (-2.47 %)

Updated - 13 December 2024
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Recent achievements in the global market

This recent order follows KEC’s August 2024 announcement of ₹1,079 crore worth of contracts in its T&D and cables divisions. The company received a mix of orders from India, the Middle East, and the Americas, showcasing its global capabilities. The projects secured in August included a 765 kV/400 kV transmission line project in India and other projects in Saudi Arabia and Oman.

Strong financial performance

KEC International’s financial performance also reflects its operational success. For the quarter ending in June 2024, the company reported a net profit of ₹87.6 crore, marking a significant increase from ₹42 crore in the same period last year. Its revenue grew by 6.3% year-on-year, reaching ₹4,512 crore.

The new order of ₹1,423 crore from Saudi Arabia highlights KEC International’s continued leadership in the T&D sector, particularly in the Middle East. With a growing order book and a solid financial foundation, KEC is poised for further growth in global markets.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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