• Growth and guidance: KEC maintained its annual revenue growth guidance of 10% to 15% alongside an annual order intake target of around ₹30,000 crore, though Q1 performance is expected to be flattish.
• Power Grid pipeline: Following the revocation of KEC's exclusion, the company is targeting over 10 upcoming Power Grid tenders worth more than ₹6,000 crore, which could yield ₹3,000 crore to ₹4,000 crore in EPC order opportunities.
• HVDC order outlook: HVDC projects offer margins roughly 100 to 150 basis points higher than standard T&D work due to higher complexity and lower competition, with bidding set to begin shortly and awards expected within one to two months.
• Middle East operations: Construction across more than 20 projects in Saudi Arabia, Oman, and the UAE continues on schedule, but persistent shipping and material supply bottlenecks are delaying revenue recognition into Q2.
• Labor supply recovery: Workforce availability has improved to around 21,000 to 22,000 personnel from 15,000 previously, though a shortage remains against the company's requirement of about 30,000 workers.