KEC International - Moving From Strength To Strength; Outlook Improving: Motilal Oswal
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Motilal Oswal Report
The momentum in order wins continued into Q1 FY22, with KEC International Ltd. winning ~Rs 30 billion worth orders in FY22 year-to-date (versus Rs 7 billion YoY).
This clearly indicates that the impact of the second Covid-19 wave has been minimal on ordering intensity, albeit for railways, which has witnessed some delays.
Tenders under evaluation and in the pipeline stood over Rs 650 billion, thus indicating healthy potential order wins ahead.
The management said it is seeing a steady revival in private capex, with an improving outlook across sectors like metals, mining, cement, and realty.
The uptick in oil prices has led to significant opportunities arising from the Middle East and North Africa region.
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