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Vikran Engineering Limited is an India-focused EPC company delivering end-to-end infrastructure solutions across Power Transmission & Distribution, Solar EPC, Water Infrastructure and Railway Electrification, offering design-to-commissioning services and operating an asset-light model supported by a 3,500+ supplier network and 190+ active project locations across 22 states.
The company’s reported consolidated order book jumped to roughly ₹4,700–4,987 crore by Feb 2026, with about 86% in Power T&D and Solar, signalling materially higher revenue visibility and a pivot towards higher-value renewable projects that should feed multi-quarter execution and revenue recognition.
Vikran has rapidly scaled its solar EPC footprint with marquee awards including a 400 MW NTPC Renewable Energy contract and its largest solar EPC order from Onix Renewables, indicating a strategic shift to capture renewables demand while positioning for turnkey PV and BoS projects up to GW scale.
Quarterly and 9M financials show revenue growth but margin pressure: Q3 FY26 revenue broadly flat YoY with EBITDA margin compressing to 13.1% from 24.6% a year earlier; management attributes margin softness to execution ramp-up and project mix, expecting operating leverage as large solar projects move into advanced phases.
Balance sheet trends show growing scale with FY25 revenue of ₹916 crore and increased current assets driven by contract assets and trade receivables; borrowings rose alongside elevated working capital needs, underscoring the need for disciplined cash collection and working capital management during scale-up.
Construction
Civil Construction
1,810 Cr
High Risk
19.7
25.7
0.2
1.5
118.40
51.11
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stockVikran Engineering Ltd (VIKRAN) is currently trading at 70.47 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Vikran Engineering Limited is an India-focused EPC company delivering end-to-end infrastructure solutions across Power Transmission & Distribution, Solar EPC, Water Infrastructure and Railway Electrification, offering design-to-commissioning services and operating an asset-light model supported by a 3,500+ supplier network and 190+ active project locations across 22 states. The company’s reported consolidated order book jumped to roughly ₹4,700–4,987 crore by Feb 2026, with about 86% in Power T&D and Solar, signalling materially higher revenue visibility and a pivot towards higher-value renewable projects that should feed multi-quarter execution and revenue recognition. Vikran has rapidly scaled its solar EPC footprint with marquee awards including a 400 MW NTPC Renewable Energy contract and its largest solar EPC order from Onix Renewables, indicating a strategic shift to capture renewables demand while positioning for turnkey PV and BoS projects up to GW scale. Quarterly and 9M financials show revenue growth but margin pressure: Q3 FY26 revenue broadly flat YoY with EBITDA margin compressing to 13.1% from 24.6% a year earlier; management attributes margin softness to execution ramp-up and project mix, expecting operating leverage as large solar projects move into advanced phases. Balance sheet trends show growing scale with FY25 revenue of ₹916 crore and increased current assets driven by contract assets and trade receivables; borrowings rose alongside elevated working capital needs, underscoring the need for disciplined cash collection and working capital management during scale-up.
Over the past 52 weeks, Vikran Engineering Ltd has traded between a low of ₹51.11 and a high of ₹118.40. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Vikran Engineering Ltd has a market capitalization of approximately 1,810.28. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Vikran Engineering Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 19.74 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 1,810.28 Cr, Vikran Engineering Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Vikran Engineering Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Vikran Engineering Ltd is 19.74. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Vikran Engineering secured two orders from MSEDCL with a combined value of Rs 530.80 crore, excluding GST.
Vikran Engineering has secured two contracts from MSEDCL worth a total of ₹530.80 crore for power distribution system strengthening in the Nashik (₹235.63 crore) and Kolhapur (₹295.17 crore) zones of Maharashtra.
The contract secured by Vikran Engineering from Onix Renewables is valued at ₹2,035.26 crore for developing 600 MW of solar power projects.
The primary reason for the stock's surge was the announcement of a major work order worth ₹2,035.26 crore from Onix Renewables for developing 600 MW AC solar power projects in Maharashtra.
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
241.90 | 1,914 Cr | 47.84 | 1.96 | 0.00 | 4.10 | 2.36 | 1.04 | ||
223.20 | 1,880 Cr | 9.81 | 0.98 | 0.00 | 10.03 | 13.99 | 4.92 | ||
70.47 | 1,810 Cr | 19.74 | 1.46 | 0.00 | 7.41 | 12.19 | — | ||
191.25 | 1,666 Cr | 13.83 | 1.96 | 0.00 | 14.21 | 16.47 | 7.14 | ||
197.50 | 1,657 Cr | 22.18 | 1.36 | 0.00 | 7.88 | 5.32 | 3.25 | ||
219.00 | 1,607 Cr | 32.78 | 12.22 | 0.00 | 37.28 | 29.98 | 8.30 | ||
278.50 | 1,593 Cr | 17.20 | 2.42 | 0.36 | 14.10 | 18.97 | 7.98 | ||
| Median: 7 Co. | — | 219.00 | 1,666 Cr | 19.74 | 1.96 | 0.00 | 10.03 | 13.99 | 6.03 |
Investor/Analyst Meet
Vikran Engineering will hold one-on-one/group physical meetings with analysts/investors in Mumbai on 08 June 2026; discussions will use publicly available information and not contain UPSI.
Earnings Transcript
Filed transcript of the Q4 & FY26 earnings call (May 26, 2026) outlining FY26 operational and financial overview, 1.5 GW solar projects under construction, strengthened T&D and solar order book, execution capabilities and FY27 outlook.
Earnings Transcript
Transcript of Vikran Engineering's Q4 and FY26 earnings call where management outlined FY26 performance, 1.5 GW solar projects under construction, diversification into solar EPC, strong execution record and nationwide presence.
