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KEC Intl hopes big BSNL order boosting FY10 orderbook

KEC Intl hopes big BSNL order boosting FY10 orderbook
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First Published: Wed, Jan 27 2010. 05 50 PM IST
Updated: Wed, Jan 27 2010. 05 50 PM IST
Mumbai: Power equipment maker and contractor KEC International is likely to add Rs2,500 crore to its order book by March with an order from Bharat Sanchar Nigam (BSNL), its top official said on Wednesday.
“We hope by the end of this (fiscal) year this order should get formalised,” and it will add about Rs2500 crore to the order book, managing director and chief executive officer Ramesh Chandak said.
The Mumbai-based firm has a total current order book of Rs6,050 crore, bulk of them power-transmission projects, and was a lowest bidder for projects worth another Rs1000 crore, he said.
KEC expects to bag new orders in railway segment as well.
“Railway business is just picking up. By the end of this fiscal we should have orders in signalling, earth work, platforms and bridges.”
The RPG group company reported a 68% jump in standalone net profit for Oct-Dec to Rs41.99 crore, on the net sales of Rs947 crore.
The growth was aided by reduction in interest costs, higher sales and improved margin, Chandak said.
“There are large number of tenders which are floated and we are bidding for them,” said Chandak when asked about expected order inflows in Jan-March quarter.
The firm holds cash of about Rs100 crore, while its total debt is at Rs800 crore, he added. The shares in the firm closed down 2.19% in a broader Mumbai market that was down 2.92%.
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First Published: Wed, Jan 27 2010. 05 50 PM IST