KEC International Ltd., part of the RPG Group, has received over ₹12,300 crore in orders during the first half of the current fiscal year, accounting for nearly 70% of the total ₹18,102 crore orders it secured in FY24. This comes after the company announced an additional ₹1,003 crore worth of orders across various sectors on Sunday.
In its railways division, KEC International won an order for tunnel ventilation systems and related works in India. The industrial segment also saw success with an order for civil and mechanical work at a steel plant. Additionally, the company’s cables division secured contracts for supplying various types of cables domestically and internationally.
A significant portion of this year’s orders—around 70%—came from the Transmission and Distribution business. MD and CEO Vimal Kejriwal noted, “Our railways division has strengthened its foothold in tunnel ventilation, while the civil business expanded its portfolio with a new client in the metals and mining sector.”
Earlier this month, in a CNBC-TV18 interview, Kejriwal maintained KEC’s target for ₹25,000 crore in order inflow for FY24, with the company having already achieved 50% of that. He also revealed that KEC is the lowest bidder (L1) on orders worth over ₹7,000 crore.
On September 5, the company secured ₹1,423 crore in contracts for the design, supply, and installation of 380 kV transmission lines in Saudi Arabia. KEC has also been in the spotlight as the frontrunner to acquire the promoter stake in ITD Cementation.
However, reports suggest that the Adani Group has entered the race, causing KEC’s stock to underperform on Friday. KEC has yet to comment on this matter. The company recently approved a ₹6,000 crore fundraising plan, with ₹4,500 crore to be raised via Qualified Institutional Placement (QIP) and the remaining through Non-Convertible Debentures (NCDs).
KEC International is a global infrastructure Engineering, Procurement, and Construction (EPC) firm with expertise in Power Transmission, Distribution, Railways, Civil, Urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables. The company operates in over 30 countries and has a footprint in more than 110 nations.
Founded in 1979, RPG Enterprises is one of India’s fastest-growing business groups with diverse interests in Infrastructure, Tyres, Pharma, IT, and emerging technology sectors, generating annual revenues of USD 4.8 billion.
