KEC International Ltd. announced on Thursday that it has secured new contracts worth Rs 1,423 crore for the design, supply, and installation of 380 kV transmission lines in Saudi Arabia.
"These orders in Saudi Arabia, along with the earlier orders in the UAE and Oman, have further reinforced our leadership in the Middle East and substantially enhanced our international T&D order book," said Vimal Kejriwal, managing director and chief executive officer.
He added that with these orders, the company's year-to-date order intake stands at over Rs 11,300 crores, a growth of approximately 75% compared to last year via the exchange filing.
KEC International informed the stock exchanges about securing two orders worth Rs 1,171 crore in the Middle East. The company had earlier this week won another order of Rs 1,079 crore in August.
The company has also set a high bar for its financial year, targeting an order inflow of Rs 25,000 crore. It has already secured orders close to Rs 10,000 crore in fiscal 2025 so far, according to Kejriwal.
“As far as the order pipeline is concerned this financial year, we already got orders close to Rs 10,000 crore, and we are L1 in another Rs 7,500 crore. Our stated announcement is that we should be doing Rs 25,000 crore of order intake for this year,” he told NDTV Profit.
Shares of the company closed 5.97% higher at Rs 987.75 per share, compared to a 0.21% decline in the NSE Nifty 50. The stock has risen 49.72% year-to-date and 67.64% over the past 12 months.
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