KEC Says Powergrid Tender Ban Won’t Hit Ongoing Contracts

21 Nov 2025 CW Team

KEC International on Wednesday said the company expects “no bearing” on the execution of its existing Powergrid contracts after being barred from participating in future tenders by the state-owned transmission utility.

The clarification follows a communication from Power Grid Corporation of India Ltd (PGCIL) informing KEC that it has been excluded from bidding for, and receiving, new contracts for a period of nine months in connection with an earlier contractual issue.

In a statement to exchanges, KEC International said it “does not foresee any material impact on its ongoing operations or financial position”. The company added that it is reviewing its options, including potential legal recourse and approaching PGCIL for reconsideration.

In its exchange filing on Tuesday, KEC confirmed receipt of PGCIL’s notice, which cited alleged transgressions of contractual provisions in an earlier matter.

KEC reported an order intake of Rs 170.66 billion so far in FY26, marking year-on-year growth of 17 per cent. PGCIL accounts for 4 per cent of this year’s order intake, down sharply from 27 per cent in the previous year.

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