In a stellar performance, shares of KEC International jumped over 6% on March 17 after the company said it had won new orders worth ₹1,267 crore in its different business segments. The stock price of the company jumped intraday to ₹717 on the Bombay Stock Exchange (BSE), up ₹44.60, or 6.63%, from its last close. This order victory has greatly improved investor confidence, propelling a positive sentiment for the company and re-establishing it as a top player in the infrastructure and engineering industries.
KEC International’s New Orders Breakdown
The new orders are from a number of major sectors, with the Transmission and Distribution (T&D) business winning the largest portion of the overall value. The new projects are spread across both domestic and overseas markets, further strengthening KEC International’s international presence.
1. Transmission & Distribution (T&D) Business: The company has won Notices of Award (NOAs) and Comfort Letters for several large T&D projects. The contracts involve high-voltage direct current (HVDC) and high-voltage transmission line projects. Some of the major contracts are an 800 kV HVDC and a 765 kV Transmission Line order from Power Grid Corporation of India (PGCIL), the state-owned organization tasked with building India’s transmission infrastructure. The projects are among the government’s efforts to improve renewable energy transmission and strengthen grid infrastructure to accommodate increasing energy needs nationwide.
The T&D business has been a consistent performer for KEC International, and this order win will further reinforce its leadership position in the fast-growing power transmission business, both domestically and overseas. The HVDC and 765 kV transmission lines are especially important for evacuating green power, which is aligned with the Indian government’s emphasis on clean and renewable power generation.
2. Cables Business: KEC International’s cable business has also bagged orders for the supply of different categories of cables and conductors not only in India but also internationally. These orders will enable the company to strengthen its presence and aid its growth in various infrastructure projects around the world. Energy transmission is an important function for cables, and KEC International’s experience in this area has earned it the status of a preferred partner in many large-sized projects across the world.
3. Global Reach: Apart from the Indian market, KEC International has secured orders for T&D projects in the Americas. The company received orders for the supply of towers, hardware, and poles under these projects, further increasing its reach in North and South America. This demonstrates the increased demand for KEC International’s products and services in foreign markets, especially in regions that are keen on improving and increasing their energy infrastructure.
Strategic Vision: Capitalizing on India’s T&D Market Growth
Vimal Kejriwal, Managing Director and CEO of KEC International was optimistic about the recent order wins. He underscored the company’s favourable long-term view of India’s T&D market, fueled by the country’s rising energy needs and the government’s firm determination to increase renewable energy capacity and transmission infrastructure. With these orders, KEC’s YTD order intake has touched an astonishing ₹23,300 crore, marking a strong growth of 35% over the corresponding period last year.
Kejriwal highlighted that the Indian T&D market has a huge growth opportunity with the increasing energy requirements of the country and aggressive renewable energy targets. With the Indian government persistently pursuing aggressive infrastructure initiatives, KEC International is well-placed to capitalize on its robust portfolio and help build India’s power transmission infrastructure.
1. Recent Order Wins and Strategic Partnerships
KEC International’s success in bagging such large orders reflects its market leadership. The company has also recently bagged large T&D project orders worth ₹1,445 crore in January 2025. These consist of additional ±800 kV HVDC and 400 kV transmission line projects, once again from Power Grid Corporation of India. Moreover, KEC’s diversified business model has also witnessed orders in areas like Oil & Gas Pipelines, where the company won a design, supply, and build order for pipeline and allied works from a prominent public sector undertaking (PSU) in India.
These recent victories, coupled with the existing ₹1,267 crore orders, further enhance KEC International’s reputation as a top infrastructure solutions provider across industries. The company’s success in winning large projects in domestic and international markets reflects its diversified business model, robust technical expertise, and consistent delivery of quality solutions.
2. Stock Performance: A Promising Future
KEC International’s share price has been of interest to investors. Following a phase of muted movement, the stock jumped more than 6% on the strength of the recent order victories. As of the most recent data, the stock hit ₹717, a far cry from its 52-week low of ₹648.45, and is currently trading about 45% lower than its 52-week high of ₹1,312. Despite this volatility, the company’s recent performance and its outlook look promising.
The T&D business, specifically, has been a growth driver for the company. With India developing its transmission infrastructure further and with renewable energy production becoming the focus, KEC International stands to gain a considerable market share. The company’s long-standing association with industry leaders like PGCIL and the rising global order of projects provide substantial upside value.
3. Strong Fundamentals Support Investor Confidence
KEC International has always proven to be adept at responding to shifting market dynamics. The firm has had excellent relations with government and private clients alike, cementing its hold on the market further. The strategic emphasis on power transmission, complemented by diversification into cables and other infrastructure segments, makes KEC a dependable contender in the infrastructure space.
Along with its robust order book, the firm’s business development strategy supported by a widening international presence has given it room to risk diversification and realize new growth opportunities. Favorable trends in the Indian T&D sector and KEC’s positioning in renewable energy transmission are likely to give positive returns in the future.
Looking Ahead: Key Catalysts for Growth
Several factors will have a significant impact on KEC International’s near and medium-term growth prospects:
- Government Infrastructure Push: The continued emphasis by the Indian government to enhance infrastructure, particularly in power and renewable energy, offers compelling growth opportunities for KEC International. With a robust portfolio of T&D orders, the company is well poised to gain from this national focus.
- Renewable Energy Transition: With India speeding up its renewable energy transition, KEC’s role in green energy evacuation projects, including HVDC lines, will be instrumental in helping India meet its climate targets. The continuous growth of the renewable energy segment is likely to fuel long-term demand for KEC’s services.
- Global Expansion: KEC’s expanding international footprint, particularly in the Americas, is a reflection of the company’s ability to undertake global projects and broaden its revenue streams. The heightened need for energy infrastructure across the globe, particularly in developing economies, presents KEC with fresh growth opportunities.
- Diversification: The successful diversification of the company into oil and gas pipelines and other infrastructure segments reduces risks related to reliance on one sector. Such strategic diversification should enable KEC to weather market volatility and provide stable returns for investors.
Conclusion: A Bright Future for KEC International
KEC International has established itself as a trusted leader in the infrastructure space, with a strong order book, diversified portfolio, and expanding presence in domestic and overseas markets. The recent order wins of the company, particularly in the T&D segment, have increased investor confidence and positioned the company for higher growth. With the push by the Indian government for infrastructure and the growing need for renewable energy transmission, KEC is poised to capitalize on these opportunities.
While the stock market continues to pick up from its recent volatility, KEC International’s fundamentals and its growing project pipeline make it a compelling investment play for long-term investors wanting to ride the infrastructure boom in India and overseas.
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