KEC International, a leading electric transmission tower manufacturer, announced a net profit of Rs 87.6 crore for the quarter ending in June, more than double the Rs 42 crore reported a year ago. Revenue grew by 6.3% year-on-year to Rs 4,512 crore.
The company’s operating income (EBITDA) increased by 10.6% to Rs 270 crore, with an EBITDA margin of 6%. KEC International plans to raise up to Rs 6,000 crore through qualified institutional placements and non-convertible debentures.
They aim to raise Rs 4,500 crore via equity or equity-based instruments and Rs 1,500 crore through non-convertible debentures in multiple tranches. A committee has been formed to oversee this process. Additionally, KEC International will transfer its cables business to a new subsidiary to streamline operations.
The company announced new orders worth Rs 1,422 crore for transmission and distribution projects in India and the US, including 765 kV and 400 kV transmission line orders from Power Grid in India and substation structures in the US.
MD and CEO Vimal Kejriwal said the company’s order intake has surpassed Rs 7,500 crore this year, a growth of over 70% compared to last year. “These orders, along with those announced earlier, will significantly contribute to our targeted growth,” he stated.
Last week, KEC secured orders worth Rs 1,000 crore for T&D projects in India, the Middle East, Australia, and the Americas. This included a 765 kV transmission line and 785 kV GIS substation orders in India, a 132 kV transmission line in the UAE, and supply of towers and hardware in Australia and the Americas.
Earlier this month, KEC received orders worth Rs 1,017 crore for various projects, including an EPC project and tower supply in the Middle East, and a contract for a 625 MWp Solar PV project in Rajasthan from a public sector unit’s subsidiary in the renewable power segment.
