Vikran Engineering

NOPL Solar Projects, a wholly owned subsidiary of Vikran Engineering, entered into a facility agreement with Indian Renewable Energy Development Agency for a rupee term loan of up to Rs 2,941.19 crore. The facility was intended to part-finance a 969 MWac solar photovoltaic project across 152 locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme at an estimated cost of Rs 4,201.70 crore. The agreement finalised financing arrangements for a Rs 3,517.98 crore engineering, procurement and construction contract awarded to Vikran Engineering by the subsidiary. The 969 MW portfolio was held under a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company and had been wholly owned since May 2026, with 60-65 MW commissioned and about 150 MW half-completed. Vikran reported revenue of Rs 1,249.3 crore for the year to March 2026 and an order book of about Rs 6,500 crore, with roughly 60% in solar.

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Vikran Engineering's board approved issuing corporate guarantees of up to ₹2,941.19 crore in favour of its wholly owned subsidiary to support bank and institutional credit for business operations and solar projects. It also approved up to ₹200 crore of additional promoter contribution to the subsidiary through equity, loans, NCDs, OCDs, quasi-equity or other permitted instruments. The guarantee's lender, tenure and other commercial terms remained to be finalised, and it would represent a contingent liability if the subsidiary failed to meet repayment obligations. The board also approved the company's FY26 cost audit report, authenticated by R. R. Ahirwar & Associates. Vikran's FY26 revenue was ₹1,249.3 crore and its order book was ₹5,737 crore, while its wholly owned NOPL subsidiary held a 969 MW solar portfolio under a 25-year power purchase agreement.

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Sept 25 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING - GETS TAX DEMAND OF 8.4 MILLION RUPEES, INTEREST 6.3 MILLION RUPEES AND PENALTY 836,196 RUPEES

Source text: ID:nNSE1J1JNw

Further company coverage: VIKN.NS

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** Shares of India's Vikran Engineering VIKN.NS rise 8% to 60.64 rupees

** Stock on track for its biggest percentage gain in nearly four months

** Construction firm says it secured an order worth 1.54 billion rupees ($16.06 million) from Power Grid Corporation of India PGRD.NS for a 400 kV AIS extension substation package

** More than 5 million shares change hands, about 3.7x the 30-day avg volume - LSEG compiled data

** Stock down 39.4% YTD

($1 = 95.8775 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Vikran Engineering Limited secured a ₹153.76 crore order, exclusive of GST, from Power Grid Corporation of India for the 400 kV AIS extension substation package SS-136T at the Tumkur-II pooling substation. The award, made through domestic competitive bidding, covered design, engineering, manufacture, supply, erection, testing and commissioning over 21 months, including civil works for a ±300 MVAR STATCOM associated with integration of 2.7 GW of renewable capacity. Order wins ranged from about ₹354 crore to about ₹2,035 crore across recent awards. The order book stood at ₹5,737 crore at the end of FY26, with solar at 49% and power transmission and distribution at 39%. Revenue for FY26 was ₹1,249.3 crore, with EBITDA of ₹175.1 crore.

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Aug 11 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD JUNE-QUARTER PROFIT 175.1 MILLION RUPEES

• VIKRAN ENGINEERING LTD JUNE-QUARTER REVENUE FROM OPERATIONS 2.04 BILLION RUPEES

Source text: [ID:]

Further company coverage: VIKN.NS

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Vikran Engineering scheduled a board meeting for 11 August to consider its June-quarter financial results and the terms of a proposed issue of up to ₹1,000 crore of secured, listed non-convertible debentures or other debt securities. The securities were proposed for issuance through private placement or public issue in one or more tranches, subject to shareholder approval. The board was also due to consider a minor wording change to the ₹1,500 crore overall borrowing limit approved in May, without changing that resolution’s substance. Vikran’s order book stood at ₹5,737 crore in May, with solar EPC accounting for 49% and power transmission and distribution for 39%. The company reported FY26 revenue of ₹1,249 crore and operating cash flow of negative ₹437 crore.

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Vikran Engineering Ltd secured a ₹120.69 crore order from Power Grid Corporation of India Ltd for extension and augmentation of 400 kV GIS substations at Magarwada, Vadodara, and Rajgarh. The work includes design, supply, erection and commissioning of GIS bays and allied infrastructure. The company’s outstanding order book stood at ₹5,737 crore at the end of May 2026, with power transmission and distribution contributing 39%. Vikran Engineering had recently commissioned a 132 kV transmission line in Arunachal Pradesh, adding to its portfolio of strategic grid projects.

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July 31 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD - GETS ORDER WORTH 1.21 BILLION RUPEES FROM POWERGRID CORP

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Vikran Engineering's board approved the issuance of corporate guarantees aggregating up to ₹3,400 crore in favour of its wholly owned subsidiaries on 10 July 2026. The guarantees are intended to help the subsidiaries secure credit facilities from banks and financial institutions to fund solar projects and other business operations. The board also approved a promoter contribution infusion of up to ₹1,160 crore into the subsidiaries, which may come through equity, unsecured loans, or convertible instruments. The guarantees represent a contingent liability for the listed parent, with no immediate cash outlay unless a subsidiary defaults.

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July 10 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING - APPROVES CORPORATE GUARANTEES UP TO 34 BILLION RUPEES FOR WHOLLY-OWNED SUBSIDIARIES

• VIKRAN ENGINEERING - APPROVES PROMOTER CONTRIBUTION INFUSION UP TO 11.60 BILLION RUPEES INTO SUBSIDIARIES

Source text: ID:nBSE34Nr7N

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Vikran Engineering has decided not to proceed with a ₹354.21 crore turnkey EPC order from Ellume Energy MH Solar One Private Limited that it had accepted in October 2025. The cancellation follows prolonged delays in project readiness at the client's end, including the lack of a Power Purchase Agreement, work commencement approvals, and design clearances. The company said the decision was taken by mutual understanding and will not have a material adverse impact on its business or financial performance. The order was for a 100 MW AC solar project in Maharashtra.

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Vikran Engineering has accepted a ₹3,517.98 crore work order from its wholly owned subsidiary NOPL Solar Projects to build a 969 MW AC solar power project in Maharashtra on a turnkey EPC basis. The contract covers design, engineering, procurement, supply, erection, testing and commissioning, including solar modules and inverters. The new order replaces an earlier ₹2,035.26 crore contract awarded by Onix Renewable in December 2025 for a 600 MW project at the same site. Work worth about ₹388.67 crore had already been executed, and the balance has been mutually cancelled following Vikran’s acquisition of a controlling stake in NOPL. The restructuring does not arise from any dispute or performance issue. The company said the change will have no material adverse impact on operations or finances, and the order is to be executed within 12 months.

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** Shares of Vikran Engineering VIKN.NS up as much as 15.97%, last up nearly 12 % at 72.40 rupees

** Construction firm posted nearly 50% y/y surge in Q4 profit; revenue from ops expanded 82%

** Trading volume at 15.17 million shares, 6.3x 30-day avg

** YTD stock down about 27%

($1 = 95.1975 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

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May 22 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD - APPROVES FUNDRAISING THROUGH NCDS FOR AMOUNT NOT EXCEEDING 4 BILLION RUPEES

Source text: ID:nnAZN4SY0C9

Further company coverage: VIKN.NS

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April 28 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD - ACQUIRES 49% STAKE IN NOPL SOLAR PROJECTS PRIVATE LIMITED

• VIKRAN ENGINEERING LTD - ACQUIRES 49% STAKE FOR INR 49 MILLION RUPEES

Source text: ID:nnAZN4ST3XH

Further company coverage: VIKN.NS

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** Shares of Vikran Engineering VIKN.NS rise 9.3% to 60.55 rupees

** The construction firm secures an order worth 5.31 billion rupees ($57.2 million) from the Maharashtra State Electricity Distribution Company

** VIKN says each contract is scheduled to be completed within a 21-month timeline from the date of the respective Letter of Award

** Co on track for its biggest single-day gain since last December, if gains hold

** Including session's gains, stock is down 39.34% YTD

** VIKN trades at a trailing 12-month price-to-earnings ratio of 19.45, compared with the industry median of 13.92 - LSEG

($1 = 92.8800 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

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April 3 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD - SECURES 5.31 BILLION RUPEES ORDERS FOR DISTRIBUTION INFRASTRUCTURE IN MAHARASHTRA

Source text: ID:nNSEc3YPKB

Further company coverage: VIKN.NS

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Feb 3 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• VIKRAN ENGINEERING LTD - ENTERS LOAN AGREEMENT WITH ONIX RENEWABLE

• VIKRAN ENGINEERING LTD - LOAN AGREEMENT SIZE IS 491.5 MILLION RUPEES

Source text: ID:nBSE5WysGh

Further company coverage: VIKN.NS

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Dec 26 (Reuters) - Vikran Engineering Ltd VIKN.NS:

• ACCEPTS LOAS FOR 45.75 MW SOLAR POWER PLANTS

Source text: ID:nNSE8FT1FW

Further company coverage: VIKN.NS

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