KEC International shares gain after Power Grid lifts exclusion order ahead of schedule

Shares of KEC International Ltd. gained on Monday, June 29, after Power Grid revoked its contractor exclusion order ahead of schedule, opening doors for future order biddings.

On November 19, 2025, KEC International had said it was barred from participating in tenders for Power Grid Corporation of India for nine months, starting November 18. Since then, the stock has declined 33%.

In an exchange filing, KEC International said Power Grid revoked the restriction after it considered the firm's representations and the corrective actions it undertook ever since the order was imposed.

KEC International's management has said that the share of Power Grid in its order intake this year is 4% compared to 27% in the previous year. KEC International said it does not foresee any material impact on its ongoing operations or the company's financial position.

Last month, KEC International's MD and CEO Vimal Kejriwal told CNBC-TV18 that the company is looking at delivering 10% - 15% revenue growth in the financial year 2027. He also remained optimistic on West Asia demand, citing ₹25,000 crore to ₹30,000 crore active tender pipeline and rising investments in grid redundancy, rehabilitation and renewable-linked transmission infrastructure.

KEC International's March quarter net profit declined 28% to ₹193 crore from ₹268 crore in the previous year, while revenue was down 7% at ₹6,390 crore from ₹6,872 crore in the fourth quarter of the prior fiscal.

Its earnings before interest, tax, depreciation and amortization (EBITDA) declined 16.7% to ₹448.4 crore from ₹538.3 crore and its EBITDA margin contracted to 7% from 7.8% in the year-ago period.

Shares of KEC International were up 2.7% at ₹542.25 apiece just after market open on Monday. The stock has risen 8.5% in the past month but is down 26.6% this year, so far.

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