Vikran Engineering Reports 28% Year-on-Year Revenue Growth in Q1 FY27, Driven by Solar and Power T&D Contracts

Vikran Engineering Reports 28% Year-on-Year Revenue Growth in Q1 FY27, Driven by Solar and Power T&D Contracts​

Thane, August 11, 2026: Vikran Engineering Limited, a rapidly growing EPC company with expertise across various infrastructure segments including Power Transmission & Distribution (T&D), Water Infrastructure, Railway Electrification, and Renewable Energy, announced its unaudited financial results for the quarter ended June 30, 2026. The Company maintains a strong project pipeline supported by a diversified order book spanning Renewable Energy, Power Transmission & Distribution, Water Infrastructure, and Railway Electrification.

The company achieved significant growth in the first quarter of FY27, with revenue rising by approximately 28% year-on-year (YoY).

Q1 FY27 Financial Performance Highlights​

The performance data for Vikran Engineering Limited across the relevant periods is presented below:

Operational and Project Milestones​

Vikran Engineering Limited announced several key operational achievements that strengthened its portfolio:

• Solar EPC Secured: The company secured a 969 MW AC Solar EPC project from its wholly-owned subsidiary, NOPL Solar Projects, with a contract value of ₹ 3,517.98 crore including GST.
• High Voltage Order: A contract worth ₹ 120.7 crore was secured from POWERGRID for a 400 kV GIS Substation Extension Package across Magarwada, Vadodara, and Rajgarh, enhancing the company’s presence in high-voltage transmission infrastructure.
• Commissioning Achievement: The successful commissioning of the 132 kV Miao-Namsai Transmission Line in Arunachal Pradesh, covering 40.6 km and 138 tower foundations, reinforces the company's execution capabilities in challenging terrain.
• Contract Conclusion: The Ellume Energy EPC contract was concluded mutually due to prolonged project readiness delays at the client's end, a development expected to have no material impact on the Company’s operations or growth outlook.

Order Book and Future Outlook​

As of August 11, 2026, the total Order Book stood at ₹ 6,496.2 crores. The mix of projects in the order book is diversified as follows:


Mr. Rakesh Markhedkar, Chairman & Managing Director of Vikran Engineering Limited, commented on the results, stating that the first quarter of FY27 was commenced positively with approximately 28% year-on-year revenue growth and around 24% EBITDA growth, noting that margins remained broadly stable.

He further highlighted that the integration of NOPL Solar Projects represents a major milestone in strengthening the renewable energy platform. Markhedkar added that the recent POWERGRID order and the commissioning of the Miao-Namsai transmission line reinforce execution capabilities and customer confidence within the core Power Transmission & Distribution business.

Looking ahead, Mr. Markhedkar stated that the company remains confident in structural growth opportunities across power and renewable energy infrastructure. While Solar EPC will be a continued growth driver, the firm is also selectively evaluating emerging areas such as Battery Energy Storage Systems and Data Centre infrastructure, maintaining a focus on disciplined growth and prudent capital allocation.

Company Profile​

Vikran Engineering Limited functions as a diversified EPC player providing end-to-end turnkey solutions across conceptualization, design, supply, installation, testing, and commissioning in Power Transmission & Distribution, Water Infrastructure, and Railway Electrification. The company has successfully completed 45 projects across 14 states, serving marquee clients including NTPC and the Power Grid Corporation of India. Its operational strength is supported by an asset-light model and a robust supply chain comprising over 3,500 vendors.

VIKRAN Stock Price Movement​

On Tuesday, shares of Vikran Engineering Limited edged higher to close at ₹73.64, reflecting a 1.10% gain as the company stock traded in the market. The equity closed after the session amidst volume totaling nearly 1.9 million shares.