KEC International slides after PGCIL bars firm from new tenders

KEC International tumbled 5.11% to Rs 741.25 after Power Grid Corporation of India (PGCIL) barred the company from bidding for new tenders for nine months.

The restriction, effective November 18, does not affect ongoing PGCIL projects.

In its filing, KEC said the action stems from alleged contractual violations tied to an issue first disclosed in March 2025. The company said it is reviewing its options, including legal steps and seeking a reconsideration from PGCIL.

KEC added that the development will not materially affect its operations or financials, supported by a strong order book and tender pipeline. It reiterated its adherence to high standards of governance and compliance.

The company is a global EPC player with operations across power transmission and distribution, civil infrastructure, transportation, renewables, oil and gas pipelines, and cables.

KECs consolidated net profit jumped 88.21% to Rs 160.75 crore in Q2 FY26, while revenue from operations rose 19.13% to Rs 6,091.56 crore. Its year to date order intake has crossed Rs 17,000 crore, up about 17% from last year.

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