KEC clarifies PGCIL letter, sees no material impact on operations

KEC International has issued a press release to clarify that a recent communication from PGCIL will have no material impact on the company. The company reported a strong order intake of INR 17,066 crores in year-to-date fiscal year 2026, representing a 17% year-over-year growth. PGCIL's share in this year's order intake stands at approximately 4%, a decrease from 27% in the previous year.

The company's unexecuted order book currently totals INR 39,325 crores, with PGCIL's share at about 15%. KEC emphasizes that the PGCIL communication does not affect the execution of existing PGCIL projects. With a robust tender pipeline exceeding INR 1,80,000 crores and a healthy L1 position of over INR 4,000 crores, KEC is confident in achieving its annual order intake target.

KEC International does not foresee any material impact on its ongoing operations or financial position and is exploring various options, including legal recourse. The company reiterates its commitment to high standards of corporate governance, ethics, and compliance.