KEC International Ltd, in a statement, said that it has witnessed a year-on-year growth of around 25 per cent in order inflow during FY23.
The statement, dated November 7, 2022, said that KEC International has seen a year-to-date (YTD) order intake in FY23 of Rs.10,465 crore that represented a growth of around 25 per cent over the comparable inflows in FY22.
The outstanding order book (as of around November 7, 2022) stood at Rs.27,569 crore that was also around 25 per cent higher than the corresponding level in 2021.
Additionally, KEC International is currently the L1 bidder with respect to orders of over Rs.6,500 crore. This has resulted in the current outstanding order book position (confirmed orders + L1) of over Rs.34,000 crore.
Strong growth to continue
Commenting on the company’s performance, Vimal Kejriwal, MD & CEO, KEC International Ltd, said, “We have delivered a strong growth in revenues and order intake. The margins continue to be impacted due to the elevated logistics costs, execution of legacy projects with adverse commodity prices and SAE Brazil performance. We have significantly reduced our exposure to legacy projects and have commenced execution of projects which are secured based on current commodity prices and logistics costs. This augurs well for us and gives us confidence of a sequential improvement in the margins in the quarters to come. Based on the traction in order intake, record order book + L1 of over Rs.34,000 crore and a healthy tender pipeline, we are confident of delivering a continued strong growth in the coming quarters.”
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