KEC International Limited , a prominent player in the infrastructure sector, has taken a significant step to support its subsidiary, Al Sharif Group KEC Limited. The company has issued a corporate guarantee worth USD 26.67 million, demonstrating its commitment to facilitating the growth and operations of its subsidiary.

Key Details of the Corporate Guarantee

Implications and Company Statement

KEC International has clarified that this corporate guarantee represents a contingent liability for the company. As of now, there is no direct impact on the company's operations. This move suggests that KEC International is actively supporting its subsidiary's financial needs, potentially to facilitate expansion or ongoing projects.

The company has also confirmed that there is no interest in this transaction from the promoter, promoter group, or group companies, ensuring transparency in its corporate actions.

Regulatory Compliance

This corporate action has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed both the National Stock Exchange of India Limited and BSE Limited about this development, adhering to the principles of corporate governance and transparency.

Upcoming Financial Results

In related news, KEC International has scheduled its Board Meeting to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter and half year. The company will also host an Analyst/Investors' Conference Call to discuss these results, indicating its commitment to keeping stakeholders informed about its financial performance.

This corporate guarantee issuance, coupled with the upcoming financial results, suggests that KEC International is actively managing its corporate responsibilities while supporting its subsidiary's growth initiatives. Investors and market watchers will likely keep a close eye on the upcoming financial results to gauge the company's overall performance and the potential impact of such corporate actions on its financial health.

KEC International , a global infrastructure Engineering, Procurement and Construction (EPC) major and flagship company of the RPG Group, has announced a significant milestone in its international operations. The company has secured its largest ever substation order, valued at Rs. 1,038 crore, for the design, supply, and installation of a 380 kV Gas Insulated Substation (GIS) in Saudi Arabia.

Order Details

Strategic Significance

This order marks a strategic win for KEC International, strengthening its presence in the Middle East region. The company's Managing Director & CEO, Mr. Vimal Kejriwal, expressed enthusiasm about the achievement, stating, "We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region."

Year-to-Date Performance

The new order has contributed significantly to KEC International's order book for the current fiscal year:

This robust order intake reflects the company's strong market position and its ability to secure high-value projects in competitive international markets.

Company Overview

KEC International has established itself as a global infrastructure EPC powerhouse with operations spanning across various sectors:

• Power Transmission & Distribution
• Civil
• Transportation
• Renewables
• Oil & Gas Pipelines
• Cables & Conductors

The company's global footprint extends to over 110 countries, encompassing both EPC services and the supply of towers and cables.

As part of the RPG Group, KEC International contributes to the conglomerate's diverse portfolio, which includes businesses in infrastructure, tyres, pharmaceuticals, IT, and specialty sectors. The RPG Group, established in 1979, has shown impressive growth with a reported turnover of US$ 5.2 Billion.

This latest order underscores KEC International's continued expansion in the international market and its capability to undertake complex, high-value projects in the power sector. The successful execution of this project is likely to further enhance the company's reputation in the global EPC market, particularly in the Middle East region.