• HVDC pipeline expansion: KEC's order book including L1 stands at around ₹39,000 crore, bolstered by fresh domestic wins of ₹1,002 crore and an upcoming pipeline of 7 to 8 renewable-linked HVDC lines in India.
• International business outlook: The company is seeing rising inquiries in the Americas driven by data center infrastructure, reviving multilateral power funding in Africa, and a strong pipeline of pending tenders across Saudi Arabia and the UAE.
• Middle East operations: While physical execution across 25 to 30 projects in West Asia remains stable, supply chain bottlenecks, freight war surcharges, and elevated fuel costs are presenting near-term margin and revenue challenges.
• Raw material impact: A 20% rise in steel prices is expected to have manageable impact since civil contracts feature full cost pass-through and 85% to 90% of base metal requirements are hedged upon order receipt.