KEC International has reported a 45 per cent year-on-year growth in order inflows during FY22.
In a release, KEC International said that its order intake of Rs.17,203 crore in FY22 (April 1, 2021 to March 31, 2022) was the highest ever, and was 45 per cent higher than the comparable level of FY21.
The outstanding order book position, as of March 31, 2022, stood at Rs.23,716 crore. This was 24 per cent than the corresponding level of March 31, 2021.
The order book position of March 31, 2022, does not include some Rs.4,000 crore worth of orders where KEC is in L1 position.
Commenting on the company’s performance in FY22, Vimal Kejriwal, MD & CEO, said, “We have delivered a steady performance for the year. While we are pleased with the impressive growth in order intake and developments on the strategic front, we had a challenging year in terms of revenue and profitability, in the face of challenging global headwinds and adverse commodity prices.”
Also read: KEC International Sees Robust Growth In Order Intake
In line with our strategy of portfolio diversification, our revenue share of non-T&D businesses has increased to 50 per cent this year vis-à-vis 42 per cent last year. Our Railway and Civil businesses continued their growth momentum as they expanded their portfolio in new and emerging segments. Our Cables business demonstrated an exemplary performance by clocking its highest ever revenues and profitability. With the softening of commodity prices recently, thrust on execution, robust order book + L1 of over Rs.28,000 crore and a strong tender pipeline, we are confident of an improved performance going forward.”
Featured photograph (source: KEC International) shows a 230kV power transmission line built by KEC International in Saudi Arabia.
