KEC International

KEC International Limited (Kamani Engineering Corporation) is an Indian multinational company and also India's second largest manufacturer of electric power transmission towers[6] and one of the largest[7] Power transmission, Engineering, Procurement and Construction (EPC) companies in the world. It is headquartered in Mumbai, India[8] and is part of the inr 255000000000 RPG Group, engaged in EPC works for power transmission, distribution, railways, cables, solar, civil and smart Infrastructure. It has operations in the regions of India, SAARC, EAP, Africa, Middle East, and the Americas.

History

Ramjibhai Kamani founded Kamani Engineering Corporation (now KEC International) on 7 May 1945 which became the first electric power transmission company in Asia. It was engaged in the field of electric power transmission[9]

Acquisition by the RPG Group

KEC accumulated heavy financial debt during the 1973 oil crisis and the 1979 energy crisis both of which adversely affected international transactions conducted in US Dollars as world crude oil prices quadrupled. The company struggled but was bound to completing its project commitments. This resulted in the company incurring heavy losses.[10] Financial institutions such as IDBI (Industrial Development Bank of India) had invested some inr 230000000 in KEC and began to worry when KEC's financial reports showed a record loss of inr 44000000. They began to press for "professional management".[9]

Around this time, Texmaco, a K.K. Birla company began to show interest in KEC, but their bid to control the company was frustrated and they backed away. Financial institutions stepped in and appointed their nominees to take over control from the Kamani family. The company soon began to limp back to profitability as KEC's sales climbed from inr 200000000 in 1972 to inr 550000000 in 1982.[9]

R. P. Goenka, chairman of the RPG Group had been vying for KEC shares for a long time. Even after financial institutions stepped in, some members of the Kamani family continued to hold a small number of shares in the company. Goenka carefully maneuvered to purchase these shares making sure that he did not get trapped in the same pitfalls that had defeated the Birla's attempts to take over KEC. Shareholding negotiations and approvals from financial institutions were sought before the company was put up for court auction by the government.[9]

2005-present

On 18 March 2005, KEC International Limited was incorporated in the Ministry of Corporate Affairs, India.

In March 2010, RPG Cables was merged with KEC International.[11]

In September 2010, KEC International acquired Houston, Texas based SAE Towers, a group of operating companies incorporated in the United States, Mexico and Brazil consolidated through SAE Towers Holdings, LLC. This acquisition created the largest steel lattice tower manufacturer in the world with approximately 300,000 tons of annual production capacity.[12]

In 2017, the Company's Water Business was merged with the Civil Business. The Civil Business now undertakes turnkey construction for Residential, Industrial and Commercial projects, including workshops.

In 2019, KEC International Ltd received orders worth ₹1,520 crore across three business verticals.[13]

On 26 July 2024, the company reported a 108% jump in net profit to ₹87.6 crore for the April-June quarter (Q1FY25) compared to ₹42 crore a year ago.

type	Public
traded as	nse: KEC bse: 532714
foundation	May 7, 1945‡R1R‡ (as Kamani Engineering Corporation)
founder	Ramji H. Kamani
location city	Worli, Mumbai, Maharashtra
location country	India
key people	Harsh Goenka (chairman) Vimalkumar Kejriwal (MD & CEO)‡R2R‡‡R3R‡ Rajeev Aggarwal (CFO)
industry	Transmission towers, Distribution, Railways, Solar, Civil & Cables
revenue	inr 172820000000 (FY23)
operating income	inr 8300000000 (FY23)
net income	inr 1760000000 (FY23)‡R4R‡
num employees	40,251 (March 2022)
parent	RPG Group
subsid	SAE Towers‡R5R‡
website	http://www.kecrpg.com

History

Acquisition by the RPG Group

2005-present

Operations

Employees

External links

References