KEC International Share Price Surge 11%, Gain 26% in 4 Days on Order Win

KEC International shares continued their winning streak for the fourth straight day on March 20, 2025. The stock surged 10.86% in intraday trade, reaching ₹848 per share on the BSE. Over the last four sessions, the stock has jumped 26.11%.

In comparison, the BSE Sensex was up 486 points (0.2%) at 11:20 AM and has gained 2.9% over the past four days. Despite the recent rally, KEC International’s stock has fallen 36.21% in 2025, underperforming the Sensex, which is down about 3% during the same period.

Order Win Drives Rally

The stock’s upward momentum began after KEC International announced multiple order wins worth ₹1,267 crore over the weekend.

According to a stock exchange filing on Mar 15, the company’s Transmission & Distribution (T&D) business secured:

• An 800 kV HVDC and 765 kV transmission line order was made by Power Grid Corporation of India Limited (PGCIL).
• Supply of towers, hardware, and poles for projects in the Americas.

Additionally, its Cable business won contracts to supply various cables and conductors in India and overseas.

Company Overview

KEC International, part of the RPG Group, is a global EPC (Engineering, Procurement, and Construction) company. It operates in Power Transmission & Distribution, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. The company is currently working on projects across 30+ countries.

With these latest contracts, KEC International’s year-to-date (YTD) order intake has surpassed ₹23,300 crore, marking a 35% growth over the previous year.

Financial Performance (Q3FY25)

For the October-December quarter (Q3FY25), KEC International reported:

• Net profit: ₹130 crore (up from ₹97 crore in Q3FY24).
• Revenue: ₹5,349 crore (up from ₹5,007 crore).
• EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization): ₹374 crore (up from ₹308 crore).
• EBITDA margin: 7% (compared to 6.2% last year).

Future Outlook

Vimal Kejriwal, MD & CEO of KEC International, stated that the company’s outlook remains strong across key business segments. With an order book and L1 projects worth over ₹41,000 crore, strong execution, stable costs, and a robust tender pipeline, the company expects continued growth.

However, challenges remain:

• The Railways and Civil segments did not grow as expected, affecting margins.
• The SAE Towers unit faced a 20% currency depreciation.
• Due to these factors, the company revised its FY25 revenue growth guidance to 12-14% (earlier 15%).

Conclusion

KEC International’s strong order pipeline and improved execution outlook position it for sustained growth. However, challenges in key segments may impact short-term margins.

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