Hindustan Construction Company Ltd, The Ramco Cements Ltd, Nazara Technologies Ltd and NIIT Ltd are among the other gainers in the BSE's 'A' group today, 19 May 2023.

K E C International Ltd surged 8.85% to Rs 523.6 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.27 lakh shares were traded on the counter so far as against the average daily volumes of 29850 shares in the past one month.

Hindustan Construction Company Ltd spiked 7.72% to Rs 17.16. The stock was the second biggest gainer in 'A' group. On the BSE, 94.54 lakh shares were traded on the counter so far as against the average daily volumes of 33.84 lakh shares in the past one month.

The Ramco Cements Ltd soared 6.32% to Rs 831.65. The stock was the third biggest gainer in 'A' group. On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 31690 shares in the past one month.

Nazara Technologies Ltd advanced 5.71% to Rs 614. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 49687 shares in the past one month.

NIIT Ltd rose 5.50% to Rs 392.15. The stock was the fifth biggest gainer in 'A' group. On the BSE, 56463 shares were traded on the counter so far as against the average daily volumes of 12465 shares in the past one month.

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KEC International announced that the Board of Directors of the Company at its meeting held on 3 May 2023, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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EBITDA improved by 13% YoY to Rs 283 crore in the fourth quarter. EBITDA margins were at 5.1% in Q4 FY23 as against 5.9% in Q4 FY22.

Interest outgo jumped 69% to Rs 162 crore in Q4 FY23 from Rs 95 crore in Q4 FY22.

Profit before tax (after exceptional item) in Q4 FY23 stood at Rs 86 crore, down by 27% from Rs 118 crore in Q4 FY22.

The company recorded 47% drop in consolidated net profit to Rs 176 crore despite a 26% jump in revenues to Rs 17,282 crore in FY23 as compared with FY22.

The company said that its FY23 Order intake was Rs 22,378 crore, growth of approximately 30% YoY. Order Book as on 31 March 2023 of Rs 30,553 crore, up approximately 29% YoY.

Net Debt including acceptances stood at Rs 4,985 crore as on 31 March 2023 against Rs 4,765 crore as on 31 March 2022. Net working capital (NWC) stands at 118 days as on 31 March 2023 - reduction of 19 days vis-à-vis 31 March 2022 and reduction of 21 days vis-à-vis 31 December 2022.

The company's board has recommended a dividend of Rs 3 per equity share for FY23.

Vimal Kejriwal, MD & CEO, KEC International, commented, “We have delivered a notable performance for the year by achieving the highest ever revenues & order intake and considerable improvement in working capital. The EBITDA margins of the last two quarters have improved sequentially from 4.4% to 5.1%.

We are also pleased that SAE Brazil has delivered a positive EBITDA for Q4 FY23 and is on track to deliver a gradual improvement in profitability in the coming quarters. The uptick in order intake has enhanced our order book & L1 stand to over Rs. 34,000 crore.

Our focus on cash flows and working capital have brought down our Net debt including acceptances by approximately Rs 1,100 crore in the last three quarters. With a robust order book & L1 and strong focus on execution, we are confident of delivering an improved performance for both revenues and margins.”

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, smart infrastructure, oil & gas pipelines, and cables. It is the flagship company of the RPG Group.

The scrip rose 0.04% to currently trade at Rs 501.20 on the BSE.

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Net profit of K E C International declined 35.59% to Rs 72.17 crore in the quarter ended March 2023 as against Rs 112.04 crore during the previous quarter ended March 2022. Sales rose 29.25% to Rs 5525.01 crore in the quarter ended March 2023 as against Rs 4274.78 crore during the previous quarter ended March 2022.

For the full year,net profit declined 46.99% to Rs 176.03 crore in the year ended March 2023 as against Rs 332.08 crore during the previous year ended March 2022. Sales rose 25.76% to Rs 17281.71 crore in the year ended March 2023 as against Rs 13742.26 crore during the previous year ended March 2022.

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