KEC has received order worth Rs 121 crore from Karnataka Power Corporation.
All these orders are around 9-10 percent margins. Normally July is a very low month for orders.
Ramesh Chandak
MD
KEC Intl
KEC International has recently bagged orders worth Rs 246 crore. In an interview to CNBC-TV18, Ramesh Chandak, MD & CEO, KEC International said that company has an order backlog of over Rs 10,000 crore .
Speaking about the latest happenings in the company, he said that KEC has received order worth Rs 121 crore from Karnataka Power Corporation. The company will enjoy margins of 9-10 percent on order win, he added.
Going ahead, Chandak doesn't see any substantial increase in power grid orders.
Below is the transcript of Ramesh Chandak's interview with Anuj Singhal and Ekta Batra on CNBC-TV18.
Anuj: What kind of margins would you enjoy in these orders?
A: These are all normal 9-10 percent margins. All these orders are around 9-10 percent margins and normally July is a very low month for orders. In this month we have received good orders and I think our order backlog still continues to be more than Rs 10,000 crore. So our order received is in line with the execution. So I think anyway this is a good month.
Ekta: Can you tell us where this order is from and when exactly execution begins?
A: One order is from Karnataka Power Transmission Corporation, which is basically Karnataka State Utility. That order is about Rs 121 crore. Then we have another order in our SAE Towers in US which is about 20 crore then we have some small orders in Philippines and Ghana and India, which are about Rs 38 crore. We also have a cable order about Rs 67 crore. So I think this is a combination of various orders but the biggest one is the Karnataka order which is about Rs 121 crore.
Ekta: Has Indian order booking picked up as compared to what we saw on a year-on-year (Y-o-Y) basis or maybe even on a sequential basis?
A: No, I think it is more or less at the same level, the order has not in India. What is happening today is that I think the state electricity boards (SEBs) are getting active and the SEB orders are increasing. But I don't think there is any substantial growth in the Power Grid orders as of now. We are expecting that because we recently seen in the newspaper that a lot of transmission lines are getting cleared. But hopefully in next couple of months we can see some tender.
KEC Intl stock price
On July 18, 2014, KEC International closed at Rs 132.05, up Rs 1.60, or 1.23 percent. The 52-week high of the share was Rs 153.00 and the 52-week low was Rs 23.25.
The company's trailing 12-month (TTM) EPS was at Rs 3.33 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 39.65. The latest book value of the company is Rs 40.15 per share. At current value, the price-to-book value of the company is 3.29.
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