KEC International sees no material impact on existing Powergrid contracts

KEC International on Wednesday said the company sees "no bearing" on the execution of existing contracts from Powergrid, after being excluded from participating in future tenders by the state-owned transmission player.

The company has issued a clarification after receiving a communication from Power Grid Corporation of India Ltd (PGCIL) that it has been excluded for a period of nine months related to an earlier 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 said it is examining various options available, including legal recourse/approaching PGCIL for reconsideration of the matter.

In a filing to exchanges on Tuesday, KEC International informed "receiving a letter from PGCIL informing that the company has been excluded from participating in tenders of PGCIL and award of contracts by it for a period of 9 months... for alleged transgression of contractual provisions, in relation to an earlier matter..."  As per the company statement, KEC International has an order intake of Rs 17,066 crore in year to date (YTD) FY26, a year-on-year growth of 17 per cent. The share of PGCIL in this year's order intake is 4 per cent as compared to their share of 27 per cent in the previous year's order intake.