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Business

Pressure on margins on account of rising metal prices: KEC International

Updated : January 11, 2021 02:48 PM IST

KEC International has secured new orders worth a little over Rs 1,000 crore. Vimal Kejriwal, MD & CEO of the company spoke to CNBC-TV18 to discuss about the new orders and give FY21 business outlook.

On order inflows, Kejriwal said, “Our order intake with this order comes to around Rs 6,900 crore odd. This is around 20 percent less than what we had secured last year. So order intake has been slightly slow but we have large L1 of almost Rs 5,500-6,000 crore so hopefully, we should be able to reach Rs 13,000-14,000 crore.”

“These orders, half of them are international and half are from India. Business-wise roughly equally divided between railways and transmission and rest coming in from civil and solar projects,” he added further.

On margins Kejriwal said, “There is a very clear pressure on the margins coming out of metals because week-on-week the metal prices especially steel has been going up, steel prices, as well as availability, is becoming a concern.”

“If the prices don’t start softening, Q4 we may see some impact. To an extent, the impact may get negated by the lower interest cost and normally the higher volumes in Q4. Normally we do 40 percent of our revenue in Q4. But clearly, we are seeing pressure on account of metal prices.” he further explained.

Watch the video for more

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