KEC International Ltd.’s stock rose more than 7% on Thursday following the company’s acquisition of contracts from the Middle East valued at Rs 1,171 crore. According to an exchange filing, the contracts comprise a 380 kV transmission line project in Saudi Arabia and a 400 kV transmission line project in the United Arab Emirates.
In a televised interview with NDTV Profit, Vimal Kejriwal, the managing director and chief executive of KEC International, voiced optimism regarding the company’s growth trajectory. “Our order pipeline stands at Rs 10,000 crore as of today, and we are on track to achieve an order book of Rs 25,000 crore by the end of fiscal 2025,” Kejriwal said. He went on to emphasise the company’s audacious goal of a 15% revenue gain for the 2025 fiscal year.
Kejriwal also mentioned the easing of supply chain difficulties, which have drawn attention from several industry participants. “Supply chain issues are slowly improving, and we are witnessing a positive trend in business opportunities, particularly from the UAE,” he said.
With a 20% success record, KEC International is actively seeking tenders in the international market valued at about Rs 40,000 crore. Additionally, the company projects that in the fiscal year 2025, its EBITDA margin would be 7.5%.
KEC International’s stock increased by as much as 7.02% to Rs 929 per share, the most since August 1. As of 09:52 a.m., it reduced gains to trade 5.22% higher at Rs 913 apiece. In contrast, the NSE Nifty 50 Index increased by 0.18%.
In the past 12 months, the stock has increased by 35.22%. The day’s total trading volume was 17 times higher than the 30-day average. The indicator of relative strength stood at 68.
According to Bloomberg statistics, of the 24 analysts that follow the firm, 15 have a “buy” rating, five urge a “hold,” and four recommend a “sell.” A 2.2% gain is implied by the average 12-month consensus price objective.
