KEC Clarifies PGCIL Letter; Says No Material Impact

20 Nov 2025 CW Team

KEC International has issued a clarification regarding the recent communication from Power Grid Corporation of India Limited (PGCIL), stating that the matter has no material impact on its business or financial performance. The statement follows its disclosure dated 18 November 2025 and is intended to provide complete context in light of subsequent media and investor queries. The company noted that there is no change to the information shared earlier.

KEC reported a year-to-date order intake of Rs 170.66 billion in FY26, reflecting a 17 per cent rise over the previous year. PGCIL accounts for roughly 4 per cent of the current year’s order inflow, significantly lower than its 27 per cent share in the previous year. The company’s unexecuted order book stands at Rs 393.25 billion, of which PGCIL projects represent around 15 per cent. KEC reiterated that the letter from PGCIL does not affect the execution of ongoing projects.

With a strong tender pipeline exceeding Rs 1.8 trillion and an L1 position of more than Rs 40 billion, the company expressed confidence in achieving its full-year order intake target. It also stated that operations and financial stability remain unaffected. KEC added that it is evaluating all available options, including legal remedies, while reaffirming its commitment to high standards of governance, transparency and compliance.

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