Mumbai, April 29, 2010 : KEC International Ltd. (KEC), a global leader in the power transmission EPC business and an RPG group company, announced its audited results for FY 2009-10.
For the financial year 2009-10, the company reported an income of Rs 3907 crore as against Rs 3429 crore in the previous year. Net profit for the year stood at Rs 190 crore as against Rs 117 crore during the corresponding period last year, registering an impressive growth of 62%.
As a result of this, the Company’s earnings per share (EPS) have increased to Rs 38.3 from Rs 23.67 during the same period – a growth of 62 %, on an expanded capital base.
The (un-audited) Q4 FY10 Income was Rs 1356 crore as against Rs 1135 crore in the corresponding quarter of the previous year. Net profit for the fourth quarter stood at Rs 63 crore compared with Rs 48 crore in the corresponding quarter last year.
The transmission business explored new geographies, and entered new countries like Cameroon, Chad and Peru. It also secured its first ever Emergency Restoration System (ERS) order from Abu Dhabi. In South Asia, the company made an entry into the high-potential North-East region, with four projects in the region valued at more than Rs 600 crore. It has also won a large number of orders from the State Utilities
In the Distribution business, the company was successful in bagging orders in Madhya Pradesh and Maharashtra under the Rajeev Gandhi Grameen Vidyootikaran Yojana (RGGVY). In the Substation segment, the company won its first substation order in Western Africa (Ghana). In the domestic substation space, the company bagged a large number of 220 kV & 132 kV bays order in Maharashtra.
In the Telecom segment, the company completed the installation of 375 towers in the three states of Chhattisgarh, Meghalaya and Mizoram.
The company successfully diversified its business in the Railways segment by securing orders for Railway Civil Infrastructure, and Signaling & Telecom.
The Scheme of Amalgamation of RPG Cables Limited with KEC has come into effect on March 31, 2010. With this, the synergies between RPG Cables and KEC have been triggered and the company looks forward to a multifold increase in scale and growth of the cables business over the next few years.
Recently, the company won Transmission line orders across Africa - in Tunisia(Rs 402 crore), Cameroon(Rs 106 crore), South Africa (Rs 73 crore) and Mali (Rs 45 crore). The company also won a 66 kV substation order in Kenya which comes on the back of successful completion of earlier similar projects in that country. In India, the company won orders from PGCIL (Rs 172 crore) and from West Bengal State Utility(Rs 50 crore). With this the total order book of the company stands at over Rs 5500 crore.
“The company has continued to show improved performance during the year especially on the profitability front. The new orders in Africa have strengthened our leadership position in that continent. The merger with RPG Cables has enabled the company to successfully expand its post-generation power sector value chain. Winning the civil construction, signaling & telecommunication orders in the Railway segment marks our entry as a major player in the Railways projects segment. KEC is now well positioned to build on its strong foundation and leverage both the domestic as well as the opportunities in the global markets across the infrastructure value chain.” commented Mr. Ramesh Chandak, MD & CEO of the company.
KEC International Ltd. is a global leader in the power transmission engineering, procurement and construction (EPC) business. With global operations spanning over 20 countries, the company is present in India, UAE, Saudi Arabia, Egypt, Algeria, Afghanistan, Nigeria, Kazakhstan, Tajikistan, Mali, Oman, South Africa, Kenya, Ethiopia and Australia among several other countries.
RPG Enterprises is one of India’s leading business groups with a turnover of Rs 16,000 crore. RPG Enterprises has a presence in sectors like Power, Tyre, Retail, IT, Infrastructure, Carbon Black, Speciality & Entertainment.
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