New Delhi: KEC International's stock witnessed a surge on Monday, and its shares reached an intra-day high of Rs 1,098.95 on the BSE, which is the company's all-time high in 52 weeks. This rise has come after the company received a new order of Rs 1,040 crore from the international market. This order is related to the company's transmission and distribution business in which the company has to supply towers, hardware, and poles in the US, as well as build 220 kV transmission lines in the CIS region.
Vimal Kejriwal, MD and CEO, of  KEC International, said, "We are extremely pleased with the consistent order wins in our T&D business. This order received in the CIS region further strengthens our regional expansion and strengthens our international T&D order book. Our subsidiary SAE Towers has secured multiple orders in the US, Mexico, and Brazil, reflecting the growth in the US T&D market. With these orders, our YTD order receipts have now crossed Rs 17,300 crore, marking a remarkable growth of 75% over the previous year."

The company also received an order worth Rs 1,704 crore from Turkey last week, which included the work of designing, supplying, and installation of 765 kV transmission lines. Apart from this, another big order of Rs 1,114 crore was received on November 25.
 

financial performance

The company reported a net profit of Rs 85.4 crore in the second quarter of FY 2024 (September 30, 2024), up 53%, as against Rs 55.8 crore in the same quarter last year. Revenue from operations of the company also grew by 13.7% to Rs 5,113.3 crore from Rs 4,499 crore in the same quarter last year. EBITDA grew by 16.7% to Rs 320.2 crore.

KEC International, the flagship company of the RPG Group, is a global infrastructure engineering, procurement, and construction (EPC) company. It has gained 74% so far in 2024 and its shares have jumped 155% in the last two years. The market cap of the company is now ₹28,081 crore.
 

brokerage house bullish

Brokerage houses seem bullish about this stock. Sherkhan Brokerage has given it a 'buy' rating and set a target price of Rs 1,250. The company's shares have gained 44.56% in the last 6 months and 81.07% in the last one year. In the last 10 years, KEC International has given a return of 987%, while the Sensex has given a return of 180%.

Shareholding Pattern

Promoters' stake stood at 50.10% in September 2024, while FIIs' stake increased to 13.60%. DIIs maintained a stake of 26.33%, and public stake stood at 9.97%. Promoters' stake has declined slightly in the last four quarters from 51.88% in March 2023 to 50.10% in September 2024. FIIs' stake has steadily increased from 12.60% in March 2023 to 13.60% in September 2024. DIIs' stake has seen a marginal decline from 25.29% in June 2024 to 26.33% in September 2024. Public stake has seen a marginal increase from 9.83% in March 2024 to 9.97% in September 2024.