Vikran Engineering Ltd

Profit before tax (PBT) fell 42.9% YoY to Rs 25.92 crore in Q3 FY26. During the quarter, total expenses increased 11.19% to Rs 245.83 crore in Q3 FY26 compared with Rs 221.09 crore in Q3 FY25. Cost of material consumed stood at Rs 69.78 crore (down 50.92% YoY), project-related expenses were at Rs 121.34 crore (up 293.96% YoY), employee benefit expenses stood at Rs 20.92 crore (up 7.67% YoY), and finance cost was at Rs 13.06 crore (down 35.76% YoY) during the period under review. The company's consolidated order book surged 146% YoY to over Rs 4,987 crore as of 31 December 2025, from Rs 2,027 crore a year ago, providing strong revenue visibility for the next two years. The company has also incorporated a Special Purpose Vehicle (SPV), Vikran MP Solar. Rakesh Markhedkar, chairman & managing director of Vikran Engineering, said, 'FY26 marks a pivotal year for Vikran Engineering as we significantly strengthened our presence in the Solar EPC segment. The large-format solar orders secured during the year have materially enhanced our revenue visibility, with our consolidated order book now exceeding Rs 4,700 crore as of 13th February 2026. While margins during the period reflect execution ramp-up and project mix dynamics, we expect operating leverage benefits to play out as solar projects move into advanced execution phases. With a strong pipeline across Power T&D, Solar, and Water, and a clear focus on disciplined bidding and risk management, we are positioning Vikran Engineering for scalable and sustainable growth. We are also actively evaluating opportunities in select international markets, particularly in Africa and the Middle East, to diversify our growth trajectory.' Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.Powered by Capital Market - Live

Profit before tax (PBT) fell 42.9% YoY to Rs 25.92 crore in Q3 FY26. During the quarter, total expenses increased 11.19% to Rs 245.83 crore in Q3 FY26 compared with Rs 221.09 crore in Q3 FY25. Cost of material consumed stood at Rs 69.78 crore (down 50.92% YoY), project-related expenses were at Rs 121.34 crore (up 293.96% YoY), employee benefit expenses stood at Rs 20.92 crore (up 7.67% YoY), and finance cost was at Rs 13.06 crore (down 35.76% YoY) during the period under review. The company's consolidated order book surged 146% YoY to over Rs 4,987 crore as of 31 December 2025, from Rs 2,027 crore a year ago, providing strong revenue visibility for the next two years. The company has also incorporated a Special Purpose Vehicle (SPV), Vikran MP Solar. Rakesh Markhedkar, chairman & managing director of Vikran Engineering, said, 'FY26 marks a pivotal year for Vikran Engineering as we significantly strengthened our presence in the Solar EPC segment. The large-format solar orders secured during the year have materially enhanced our revenue visibility, with our consolidated order book now exceeding Rs 4,700 crore as of 13th February 2026. While margins during the period reflect execution ramp-up and project mix dynamics, we expect operating leverage benefits to play out as solar projects move into advanced execution phases. With a strong pipeline across Power T&D, Solar, and Water, and a clear focus on disciplined bidding and risk management, we are positioning Vikran Engineering for scalable and sustainable growth. We are also actively evaluating opportunities in select international markets, particularly in Africa and the Middle East, to diversify our growth trajectory.' Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure. Shares of Vikran Engineering slipped 1.12% to end at Rs 85.92 on the BSE on Friday.Powered by Capital Market - Live

Net profit of Vikran Engineering declined 37.92% to Rs 20.91 crore in the quarter ended December 2025 as against Rs 33.68 crore during the previous quarter ended December 2024. Sales rose 0.48% to Rs 266.46 crore in the quarter ended December 2025 as against Rs 265.20 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales266.46265.20 0 OPM %13.0824.57 - PBDT28.2946.08 -39 PBT27.1345.36 -40 NP20.9133.68 -38 Powered by Capital Market - Live

Vikran Engineering will hold a meeting of the Board of Directors of the Company on 13 February 2026.Powered by Capital Market - Live

Under the awards, Vikran Engineering will act as a Renewable Power Generator (RPG) for the implementation of the grid-connected solar photovoltaic (PV) based solar power plants. The projects will have a power purchase tenure of 25 years, with tariffs ranging between Rs 2.75 per kWh to Rs 2.80 per kWh, as specified in the LOAs The projects will be developed under the Surya Mitra Krishi Feeders Scheme, with feeder solarisation as part of the PM KUSUM-C scheme, for sale of power to Madhya Pradesh Power Management Company (MPPMCL). Vikran Engineering is a diversified EPC player. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution. On a standalone basis, net profit of Vikran Engineering rose 339.42% to Rs 9.14 crore while net sales increased 10.71% to Rs 176.29 crore in Q2 September 2025 over Q2 September 2024.Powered by Capital Market - Live

Under the awards, Vikran Engineering will act as a Renewable Power Generator (RPG) for the implementation of the solar power plants. The projects will have a power purchase tenure of 25 years, with tariffs ranging between Rs 2.75 per kWh to Rs 2.80 per kWh, as specified in the LOAs The projects will be developed under the Surya Mitra Krishi Feeders Scheme, with feeder solarisation as part of the PM KUSUM-C scheme, for sale of power to Madhya Pradesh Power Management Company (MPPMCL). Vikran Engineering is a diversified EPC player. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution. On a standalone basis, net profit of Vikran Engineering rose 339.42% to Rs 9.14 crore while net sales increased 10.71% to Rs 176.29 crore in Q2 September 2025 over Q2 September 2024. The counter rallied 4.40% to end at Rs 100.75 on Friday, 26 December 2025.Powered by Capital Market - Live

In an exchange filing, the company said it has received the award of contract for inland transportation, insurance, installation, testing and commissioning, along with guarantee tests, under the Balance of System (BoS) package for the development of a 400 MW grid-connected solar PV project in Chitrakoot. The total order is valued at Rs 459.20 crore and is to be executed within a period of 12 months. The company also clarified that neither its promoters nor members of the promoter group have any interest in the awarding authority. It added that the transaction does not fall under related-party transactions as per applicable regulatory norms. Rakesh Markhedkar, chairman and managing director, Vikran Engineering, said, 'Securing this order from NTPC Renewable Energy is a strong endorsement of Vikran Engineering's EPC capabilities and execution track record in the renewable energy sector. This project aligns with our strategic focus on expanding our footprint in utility-scale solar infrastructure while contributing meaningfully to India's clean energy transition.' Vikran Engineering is a diversified EPC player. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution. On a standalone basis, net profit of Vikran Engineering rose 339.42% to Rs 9.14 crore while net sales increased 10.71% to Rs 176.29 crore in Q2 September 2025 over Q2 September 2024. Powered by Capital Market - Live

 Vikran Engineering (VEL) announced that it has received a Notification of Award (NOA) from NTPC Renewable Energy for a Rs 459.20 crore EPC contract for a 400 MW AC grid-connected solar power project at Chitrakoot-1 in Uttar Pradesh. The contract involves execution of the Balance of System (BoS) package for the solar project and is to be completed within a 12-months period. The scope of work includes inland transportation, insurance, installation, testing, commissioning, and guarantee tests, ensuring full operational readiness of the project. Under the award, Vikran Engineering will deliver the project in line with NTPC Renewable Energy's stringent technical specifications, quality benchmarks, and safety standards, emphasizing the company's ability to execute large-scale, time-bound renewable energy projects for marquee public-sector clients.Powered by Capital Market - Live

The company has secured a work order worth Rs 2,035.26 crore from Onix Renewables to set up 600 MW AC solar power projects across multiple locations in Maharashtra. The order will be executed on a turnkey EPC basis. The scope of work includes design, engineering, procurement, supply, erection, testing and commissioning, along with the supply of solar PV modules and inverters. The project is expected to be completed within a 12-month timeline. Chairman and managing director Rakesh Markhedkar said the order strengthens the company's renewable energy order book and reflects confidence in its execution capabilities. He added that the win positions Vikran Engineering for sustained growth while supporting India's clean energy ambitions. Vikran Engineering is a diversified EPC player. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution. On a standalone basis, net profit of Vikran Engineering rose 339.42% to Rs 9.14 crore while net sales rose 10.71% to Rs 176.29 crore in Q2 September 2025 over Q2 September 2024. Powered by Capital Market - Live

Vikran Engineering announce Letter of Award(LOA) accepted on 10 November 2025 from Carbonminus Maharashtra One Private (SPV) of Rs. 1641.91 crore for development of '505 MWAC Capacity Crystalline Ground Mounted Solar PV Technology Grid Interactive Solar PV Power Plants under MSEDCL LIS scheme at various districts in Maharashtra' by Maharashtra State Electricity Distribution Company (MSEDCL).Powered by Capital Market - Live