Vikran Engineering Stock Price Surges Over 5% After ₹1,641.9 Crore Solar Project Win and Strong Q2 Earnings

Mumbai, November 11, 2025: Vikran Engineering Ltd. share price surged on Tuesday morning, tracking positive developments on both business and financial fronts. As of 12:20 PM, the stock was trading at ₹104.25, up 5.02% from its previous close of ₹99.27.

The rally was driven by two key factors. First, the company announced it had secured its largest-ever solar EPC contract, valued at ₹1,641.91 crore. Second, Vikran Engineering reported robust Q2FY26 results, marked by strong profit growth and healthy margin expansion, underscoring the company’s operational strength.

The stock opened at ₹105 and hit an intraday high of ₹108.60, with a trading volume of 2.73 crore shares. The company’s market capitalization currently stands at ₹2,560.30 crore, reflecting investor confidence following the positive announcements.

Vikran Engineering Limited, located in Thane, Maharashtra, is a diversified EPC, which is an Engineering, Procurement, and Construction company. It operates in Power Transmission & Distribution, Water Infrastructure, Railway Electrification, and Solar EPC. The company has also completed 45 projects in 14 states for reputed clients, including NTPC, PGCIL, and several state utilities.

Q2FY26 Financial Performance Highlights

The company has shown strong financial progress in the second quarter of the financial year 2026. It had performed well with a boost in revenue, increasing 10.7% from last year to ₹176.3 crores, while PAT rose 338% to ₹9.1 crores. EBITDA almost doubled, driving margins of 14.4%. Strong execution in the Power T&D segment, improved operational efficiency, and substantial order inflows in the solar EPC business contributed to this growth.

Major Order Win of ₹1,641.91 Crore

Vikran Engineering has secured its largest-ever order worth ₹1,641.91 crore from Carbonminus Maharashtra One Pvt. Ltd. The order is related to a 505 MWAC solar project under the MSEDCL LIS Scheme. The EPC contract to be executed in 11 months enhances Vikran’s order book to over ₹4,000 crore and provides revenue visibility for the next two years.

Management Commentary

Rakesh Markhedkar, Chairman & Managing Director of Vikran Engineering, stated that the second quarter of FY26 has been a period of steady growth with healthy YoY improvement in revenue and notable margin expansion. He said, “Our major solar EPC wins worth ₹354 crore and ₹1,642 crore mark a significant milestone in our renewable energy journey. Following our IPO, the consolidated order book now exceeds ₹4,000 crore, providing strong execution visibility for the next two years”.

He further added that the company remains focused on expanding into international markets. It especially focuses on Africa and the Middle East to achieve geographical diversification and sustain growth.

REF:https://nsearchives.nseindia.com/corporate/VIKRAN123_10112025194734_Vikran_-_ER_Q2_FY26_v6.pdf

https://nsearchives.nseindia.com/corporate/VIKRAN123_10112025201524_Disclosure-Award.pdf

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