KEC International has recorded its highest ever order book (including L1 positions), the Mumbai-headquartered company said in a release.
The release observed that it recorded an outstanding order book position of Rs.28,981 crore as of around January 31, 2023. This was 19 per cent higher on a year-on-year basis. Including L1 positions of around Rs.6,000 crore, the total outstanding order book stands at over Rs.35,000 crore – making it the highest ever.
Order intake during the first three quarters (April to December) of FY23 were Rs.15,554 crore, implying a growth of around 10 per cent, year-on-year.
Also read: KEC International’s YTD Order Inflow In FY23 Crosses Rs.15,500 Crore
Good traction in order intake
According to Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We have delivered a robust growth in revenues. The growth is backed by good performances in T&D, Civil and Oil & Gas businesses. While our EBITDA margins have shown a sequential improvement, they have been impacted primarily due to execution of legacy projects with adverse commodity prices and performance of SAE Brazil. With the closure of last EPC project in Brazil, we are confident of a gradual revival in the performance of SAE in the quarters to come. We continue to witness a good traction in order intake. With the new orders announced yesterday, our order book along with current L1 pipeline stands at a record level of over Rs.35,000 crore. Most of these orders have been secured at current commodity prices and logistics costs. Our robust and well diversified order book gives us confidence of concluding the year with a healthy growth.”
Featured photograph is a file picture showing an under-construction power transmission line built by KEC International. This is a 400kV line over River Padma in Bangladesh. (Photo: KEC International)
