Mumbai, November 3, 2010: , KEC International Ltd. (KEC), one of the leading players in the Infrastructure EPC space and a global leader in the power transmission EPC business, today announced its unaudited consolidated results for the second quarter ending September 30, 2010. KEC is the infrastructure flagship of the Rs. 17,000 crore RPG Enterprises.
The company's consolidated net revenue stood at Rs. 1000 crore as against Rs. 875 crore in the corresponding quarter of the previous year, registering a growth of 14.3%.
Profit before Tax (PBT) before exceptional items was Rs. 71.5 Crore at 7.1% of revenues as against Rs. 60.8 Crore at 6.9% of revenues. Exceptional items during the quarter include Rs. 8.5 Crore under the Voluntary Retirement Scheme for employees.
Profit after Tax (PAT) was Rs. 42.7 crore at 4.3% of revenues as against Rs. 42.1 crore at 4.8% of revenues in the corresponding quarter last year.
The company’s board has approved Share Split by Sub-division of Equity Shares of the Company from the Face Value of Rs. 10 per share each to the Face Value of Rs. 2 per share.
Recently, the company has signed an agreement with SNC Lavalin, Canada for supply of high voltage transmission line towers for their various projects in Canada. The value of this contract upon completion of the supplies will be Rs. 735 crore (US$ 165.25 Mn). This agreement enhances the presence of KEC in the Americas and further emphasizes the company’s leadership in the transmission tower manufacturing space.
In addition to above order, the company has secured following new orders during the quarter:
“The Canada order marks the continued success of KEC in the North America Region which comes on the back of the acquisition of SAE Towers in USA in September 2010. KEC, along with SAE Towers, is uniquely positioned to capitalize on the large & growing markets of the Americas.
Going forward, fuelled by a healthy order book and a sizeable amount of tenders in the pipeline, we are confident of showing an impressive performance in the near future, ” said Ramesh Chandak, MD & CEO of KEC International Limited.
KEC International, established in 1945, is one of the leading players in the Infrastructure Engineering, Procurement and Construction (EPC) space. The Company has a significant presence in the segments of Power Transmission, Power Distribution, Railways, Telecom and Manufacturing of Cables & Towers. The company has made an indelible mark on the world map by powering infrastructure development in over 45 countries across South Asia, Middle East, Africa and Central Asia & Americas. The Company is Flagship Company of the RPG Group and has annual turnover of ~Rs.4,000 crore.
RPG Enterprises, established in 1979, is one of India’s fastest growing business groups with a turnover touching Rs. 17,000 cr. The group has more than sixteen companies managing diverse business interests in the areas of Power, Tyre, Infrastructure, IT, Retail, Entertainment, Carbon Black and Specialty.
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