KEC International Secures ₹1,476 Cr Order, Lands Largest Saudi Deal

Introduction to KEC's Latest Achievement

KEC International Ltd., an infrastructure EPC major and part of the RPG Group, has secured new orders valued at ₹1,476 crore. The announcement, made after market hours on March 11, highlighted a significant expansion of its transmission and distribution (T&D) business across international markets. This latest success reinforces the company's strong market position and execution capabilities, pushing its year-to-date order intake to an impressive ₹22,800 crore.

Breakdown of the New Orders

The centerpiece of the new contracts is the company's largest-ever composite T&D order from Saudi Arabia. This landmark project in the Middle East involves the construction of 380 kV transmission lines, substations, and Extra High Voltage (EHV) cabling. The win underscores KEC's growing influence in the region's infrastructure development. In addition to the Saudi deal, the company also secured contracts for 132 kV transmission lines in Africa and various orders for supplying towers, hardware, and poles across India and the Americas, showcasing its diversified geographical footprint.

Management Commentary

Vimal Kejriwal, MD & CEO of KEC International Ltd., expressed satisfaction with the new order wins. He emphasized the strategic importance of the Saudi Arabian contract, stating, "Securing our largest composite order in Saudi Arabia, despite the current geopolitical situation, is a positive indicator of continuing investments in the Middle East T&D market." Kejriwal also noted that the contract from Africa signals a "gradual recovery" in that region's T&D sector, further strengthening the company's order book.

A Pattern of Consistent Growth

This recent announcement is part of a consistent trend of strong order inflows for KEC International. Over the past few months, the company has reported several significant wins, demonstrating robust business momentum.

• February 2026: Secured ₹1,002 crore in new orders across its T&D and cables segments.
• January 2026: Bagged multiple orders worth ₹1,050 crore, including a breakthrough order in the renewables segment for a 100+ MW wind project.
• December 2025: Announced orders of ₹1,150 crore, which included its largest-ever domestic T&D order in India for a 765 kV transmission line and substation project from a private developer.

This steady stream of contracts highlights the company's ability to win large-scale projects from both public and private sector clients, both domestically and internationally.

Financial Health and Order Book

KEC International's financial performance provides a solid foundation for its growth. The company reported record revenues of ₹6,001 crore for the third quarter, a strong growth of 12% year-on-year. Its EBITDA grew by 15% in the same quarter, with margins improving to 7.2%. The company's order book remains robust, providing significant revenue visibility for the coming years.

While the company's net debt increased to ₹6,806 crore as of December 31, 2025, this is attributed to strong revenue growth and strategic inventory increases to support its expanding project pipeline.

Market Reaction and Stock Performance

Investors reacted positively to the news of the new orders. On March 11, shares of KEC International jumped 1.97% to close at ₹547.80 apiece on the BSE, marking the second consecutive session of gains. The stock's performance reflects market confidence in the company's strategic direction and its ability to consistently secure high-value contracts.

Strategic Outlook and Future Opportunities

KEC International is actively pursuing further large-scale projects to maintain its growth trajectory. The company is reportedly in discussions for two more High-Voltage Direct Current (HVDC) projects in India and is bidding for a large HVDC project in Saudi Arabia. Each of these projects is typically valued at around ₹25,000 crore, representing substantial future growth opportunities. The company's subsidiary, SA Towers, also holds a strong order book of approximately ₹2,600 crore, contributing to overall revenue visibility with double-digit margins.

Conclusion

KEC International's recent acquisition of ₹1,476 crore in new orders, particularly the landmark deal in Saudi Arabia, solidifies its position as a leading global infrastructure EPC player. The consistent order wins, coupled with strong financial performance and a robust order book, provide a clear path for sustained growth. The company's strategic focus on high-growth markets and complex projects positions it well to capitalize on the increasing global demand for transmission and distribution infrastructure.