KEC International Appoints Deloitte Haskins & Sells LLP as Statutory Auditor for Five-Year Term

The Board of Directors of KEC International , at its meeting held on Saturday, May 16, 2026, approved the appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as the company's new Statutory Auditor. The decision was made based on the recommendation of the Audit Committee and is subject to approval by the members at the upcoming 22nd Annual General Meeting. The Board meeting commenced at 03:30 p.m. and concluded at 07:45 p.m. The intimation was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Appointment Details

The key details of the appointment, as disclosed under the SEBI Listing Regulations, are summarised below:

Parameter:	Details
Incoming Auditor:	M/s. Deloitte Haskins & Sells Chartered Accountants LLP
Firm Registration No.:	117364W/W-100739
Appointment Term:	5 (five) consecutive years
Term Commencement:	Conclusion of the 22nd AGM (to be held in 2027)
Term End:	Conclusion of the 27th AGM (to be held in 2032)
Subject To:	Approval of Members at the 22nd AGM
Outgoing Auditor:	M/s. Price Waterhouse Chartered Accountants LLP
Outgoing Firm Registration No.:	012754N/N500016
Outgoing Auditor Continuity:	Until conclusion of the 22nd AGM in 2027

Reason for Change

M/s. Price Waterhouse Chartered Accountants LLP, the current Statutory Auditor, will be completing its second term of five consecutive years at the conclusion of the 22nd AGM to be held in 2027. In view of this, the Board approved the appointment of Deloitte Haskins & Sells Chartered Accountants LLP as the incoming Statutory Auditor for the subsequent five-year term. Price Waterhouse Chartered Accountants LLP will continue to undertake the audit of the company until the transition takes effect at the conclusion of the 22nd AGM.

Profile of Incoming Auditor

Deloitte Haskins & Sells was constituted in 1997 and was subsequently converted to a Limited Liability Partnership (LLP) under the name M/s. Deloitte Haskins & Sells Chartered Accountants LLP, with effect from June 2, 2021. The firm is registered with the Institute of Chartered Accountants of India (Registration No. 117364W/W100739) and is part of Deloitte Haskins & Sells and Affiliates, being the Network of Firms registered with the ICAI.

Regulatory Compliance

The disclosure was made pursuant to SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The intimation was signed by Suraj Eksambekar, Company Secretary and Compliance Officer of KEC International, and submitted to both the National Stock Exchange of India Limited and BSE Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.25%	-1.93%	-18.23%	-28.54%	-46.93%	+23.45%

KEC International announced that its Board of Directors has approved the Scheme of Merger by Absorption of KEC Spur Infrastructure Private Limited, a wholly owned subsidiary, with the company. The decision was taken during the board meeting held on May 16, 2026, which commenced at 03:30 p.m. and concluded at 07:45 p.m. The merger is proposed under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, and is subject to requisite approvals, including those from the National Company Law Tribunal, Mumbai.

Rationale and Details

The board stated that the proposed merger will create an operationally efficient group structure and strengthen the company's consolidated business framework. It is expected to lead to operational synergies by leveraging the company's established financial strength, technical expertise, global execution capabilities, and experienced management bandwidth. This move is anticipated to enhance the scalability and growth prospects of the combined business.

As KEC Spur is a wholly owned subsidiary, there is no consideration involved in the transaction. All shares issued by KEC Spur shall stand cancelled and extinguished upon the Scheme of absorption becoming effective. Consequently, there will be no change in the shareholding pattern of KEC International pursuant to the scheme. Additionally, the proposed Scheme of Merger by Absorption does not fall within the purview of related party transactions, as per the General Circular No. 30/2014 dated 17th July 2014 issued by the Ministry of Corporate Affairs.

Financial and Operational Context

KEC Spur is primarily engaged in the design, supply, installation, commissioning, testing, maintenance, operation, and consultancy support for laying and construction of pipes for the Oil & Gas, Refinery, Chemical, Water, Power, and Irrigation sectors. KEC International operates as a diversified global infrastructure Engineering, Procurement & Construction (EPC) major with verticals including Power Transmission & Distribution, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables & Conductors.

The following table details the financials of the entities involved as of March 31, 2026, on a standalone basis: