Overview

Detailed Summary

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.

Sector: Construction
Industry: Civil Construction
Market Cap: 1,827 Cr
Volatility: High Risk
P/E Ratio: 19.9
Industry P/E: 24.8
PEG Ratio: 0.2
P/B Ratio: 1.5
52W High: 118.40
52W Low: 51.11

Sales CAGR

1Y: 16.53%
3Y: 24.42%
5Y: 15.72%
10Y: —

Profit CAGR

1Y: 4.00%
3Y: 96.02%
5Y: 24.77%
10Y: —

ROE

TTM: 7.41%
3Y: 21.96%
5Y: 20.85%
10Y: —

ROCE

TTM: 12.19%
3Y: 38.85%
5Y: 35.51%
10Y: —

Technicals

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Forecasts

Peers

Industrials Construction Construction Civil Construction

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SIMPLEXINF		237.20	1,889 Cr	47.22	1.94	0.00	4.10	2.36	1.04
VIKRAN		71.65	1,853 Cr	20.21	1.50	0.25	7.41	12.19	—
CAPACITE		219.00	1,846 Cr	9.64	0.97	0.00	10.03	13.99	4.92
SINDUVA		253.60	1,828 Cr	37.29	13.90	0.00	37.28	29.98	8.30
SOLARWORLD		196.00	1,743 Cr	14.46	2.06	0.00	14.21	16.47	7.14
MBEL		296.20	1,693 Cr	18.27	2.58	0.34	14.10	18.97	7.98
SPMLINFRA		198.50	1,690 Cr	22.63	1.37	0.00	7.88	5.32	3.25
Median: 7 Co.	—	219.00	1,828 Cr	20.21	1.94	0.00	10.03	13.99	6.03

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Mar 2025	Dec 2025	Mar 2026
Sales	355	266	647
Expenses	288	232	555
Operating Profit	68	35	92
OPM %	19.09	13.08	14.24
Other Income	3.95	5.29	6.80
Interest	15	13	20
Depreciation	0.64	1.16	1.03
Profit Before Tax	56	26	78
Tax %	32.21	19.33	28.14
Net Profit	38	21	56
EPS in Rs	—	0.81	2.17

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	189	292	441	336	476	524	786	916
Expenses	173	262	377	303	445	445	653	756
Operating Profit	15	30	65	33	30	80	133	160
OPM %	8.18	10.27	14.64	9.92	6.34	15.20	16.96	17.50
Other Income	0.86	1.06	-12	2.37	1.85	6.18	5.49	6.52
Interest	4.79	8.88	13	12	15	28	34	54
Depreciation	0.51	0.70	0.65	0.74	2.13	3.70	4.05	2.97
Profit Before Tax	11	21	39	23	14	54	101	110
Tax %	29.45	31.85	34.30	28.09	28.17	20.63	25.73	29.38
Net Profit	7.75	15	26	17	10	43	75	78
EPS in Rs	—	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	4.82	9.84	4,671.28	2,134.15	0.00

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.29	0.29	0.29	0.29	0.29	0.29	0.33	18
Reserves	26	41	67	83	93	131	291	450
Borrowings	22	58	66	98	92	157	184	274
Other Liabilities	96	102	154	192	314	425	484	612
Total Liabilities	144	201	287	373	499	712	960	1,355
Fixed Assets	7.92	8.05	8.37	9.15	14	12	9.81	11
CWIP	0.18	0.00	0.17	1.55	0.00	0.00	0.00	0.00
Investments	1.21	1.22	0.43	7.19	12	2.88	2.97	3.20
Other Assets	135	192	278	355	474	698	947	1,341
Total Assets	144	201	287	373	499	712	960	1,355

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-13	-27	20	-12	23	5.54	-66	-129
Cash from Investing Activity	-0.88	-1.36	2.05	-7.28	-8.23	-14	-16	-9.11
Cash from Financing Activity	6.58	40	-23	20	-22	8.75	82	141
Net Cash Flow	-7.59	12	-1.71	1.07	-6.51	-0.02	-0.04	2.42

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2024	Jun 2025	Aug 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	81.78%	56.17%	81.78%	56.17%	56.17%	56.27%	56.27%
FIIs	0.00%	4.07%	0.00%	4.07%	1.60%	1.11%	1.27%
DIIs	18.22%	14.12%	18.22%	14.12%	8.50%	6.83%	5.74%
Public	0.00%	25.64%	0.00%	25.64%	33.73%	35.79%	36.72%
Total Shareholders	43	1,94,093	62	1,94,093	1,19,529	1,19,057	1,25,514

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Q4 FY26

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3 days ago

Vikran Engineering NCD Redemption

Vikran Engineering Ltd redeemed 30 unsecured NCDs (ISIN: INE01R507041) totalling ₹15.00 crore on 24 July 2026 on maturity, as per Reg.30 filing.

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Frequently Asked Questions about Vikran Engineering Ltd

Vikran Engineering Ltd (VIKRAN) is currently trading at 70.85 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 1,853.09. 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 20.21 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 1,853.09 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 20.21. 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 accepted a turnkey EPC work order valued at ₹3,517.98 crore (inclusive of GST) for a 969 MW AC solar project across Maharashtra.

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.

Vikran Engineering Ltd

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Consolidated Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

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Frequently Asked Questions about Vikran Engineering Ltd

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What is the 52-week high and low of Vikran Engineering Ltd?

What is the market capitalization of Vikran Engineering Ltd?

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Is Vikran Engineering Ltd a large-cap, mid-cap, or small-cap stock?

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What is the value of Vikran Engineering’s latest solar EPC order in Maharashtra?

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Frequently Asked Questions about Vikran Engineering Ltd

What is Vikran Engineering Ltd share price today?

What does Vikran Engineering Ltd do?

What is the 52-week high and low of Vikran Engineering Ltd?

What is the market capitalization of Vikran Engineering Ltd?

Should I consider investing in Vikran Engineering Ltd stock?

Is Vikran Engineering Ltd a large-cap, mid-cap, or small-cap stock?

Which sector does Vikran Engineering Ltd belong to and why does it matter?

What is the PE ratio of Vikran Engineering Ltd?

What is the value of Vikran Engineering’s latest solar EPC order in Maharashtra?

What is the total value of the new orders Vikran Engineering received?

What are the details of Vikran Engineering's latest contracts?

What is the total value of the contract Vikran Engineering won?

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Vikran Engineering NCD Redemption

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