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infrastructure | IST

KEC International expects order inflows worth Rs 17,000 crore in FY20, says CEO Kejriwal

Shares of KEC International, a maker of electric power transmission towers, is under pressure Thursday after the company's fourth-quarter net profit was below analysts' estimates. Vimal Kejriwal, MD & CEO of the company, spoke to CNBC-TV18 about the results.

Shares of KEC International, a maker of electric power transmission towers, is under pressure Thursday after the company's fourth-quarter net profit was below analysts' estimates. Vimal Kejriwal, MD & CEO of the company, spoke to CNBC-TV18 about the results.
Kejriwal said that the transmission and distribution (T&D) revenue declined due to headwinds in Brazil business and a private client issue in India.
“In Brazil, we are doing a large amount of engineering, procurement and construction (EPC). We were expecting 3 EPC projects to start in Q4 but environment approvals got delayed and only one could start. So revenues from 2 projects from Brazil got delayed and one in India. Therefore, this is what impacted the growth,” Kejriwal said on Thursday.
Talking about the orderbook, Kejriwal said, “Our total order book today is around Rs 20,300 crore. This order is around Rs 400 crore out of that and in Brazil, we have already started working on the second project out of the 3; I think today or tomorrow we are getting the environment approval. So the third project will also in Brazil.”
“So for FY20 we are looking at the growth of around 15 percent for T&D and overall would be between 15-20 percent for the company,” he added.
"We expect order inflows worth Rs 17,000 crore in FY20," said Kejriwal.