KEC International Share Price Falls Over 7% After Power Grid Bars Tenders

Shares of KEC International saw a sharp drop on Wednesday, November 19, after Power Grid Corporation of India Ltd. (PGCIL) barred the company from participating in its tenders for nine months. The stock fell as much as 7.2% to ₹724.60, marking a notable movement in the Indian stock market.

Market Performance

• Share price movement: Fell 7.2% to ₹724.60
• 52-week performance: Nearly 45% below its high of ₹1,312 (December 2024) and 20% above its 52-week low of ₹605.05 (April 2025)
• Recent trends: Down 12% in the past month, 9.5% in six months, and 11% in three months
• Long-term growth: Multibagger returns of 114% over the last five years

Despite this decline, the company’s historical performance reflects strong resilience in KEC International shares.

Main News: Tender Ban by Power Grid

KEC International disclosed that Power Grid Corp barred it from receiving new contract awards and participating in tenders starting November 18, 2025, for nine months. This decision relates to an alleged contractual violation communicated earlier in March 2025.

Key points:

• The restriction applies to new tenders and awards only.
• Ongoing Power Grid projects currently under execution remain unaffected.
• The company is examining options, including legal recourse and requesting reconsideration from PGCIL.
• KEC maintains strong corporate governance and compliance in all operations.

The news triggered a sharp drop in share price but does not directly affect ongoing projects or the company’s financial fundamentals.

KEC International Q2 Results FY26

The stock movement comes even as KEC International posted robust financials for Q2 FY26:

• Revenue: ₹6,092 crore, up 19% YoY from ₹5,113 crore
• EBITDA: ₹430 crore, up from ₹320 crore YoY
• EBITDA margin: 7.1% vs 6.3% last year
• Profit after tax: ₹161 crore, up 88% YoY from ₹85 crore

For H1 FY26:

• Revenue: ₹11,114 crore, a 15% YoY increase
• Profit after tax: ₹285 crore, up 65% YoY

These figures underline the company’s operational strength and solid performance despite temporary headwinds.

Recent Developments

KEC International has continued to secure new orders across multiple business segments:

• New orders: ₹1,016 crore recently, spanning civil, metals & mining, and oil & gas sectors
• Civil business: Maiden order for luxury villas in India
• Metals & mining: Upstream project at a steel plant
• Oil & gas: Composite station works project in the GCC region
• YTD order intake: Crossed ₹17,000 crore, reflecting 17% growth over the previous year

The strong order book reinforces the company’s position in infrastructure, power transmission, and engineering sectors.

Company Highlights

• Sector: Global infrastructure engineering, procurement, and construction (EPC)
• Operational footprint: Diverse projects across India and international markets
• Financial strength: Consistent revenue and profit growth with an expanding order book

KEC International continues to demonstrate robust fundamentals and a strong tender pipeline, maintaining a resilient stance in the Indian stock markets.