Financial Performance Summary

Quarterly Performance (Q4 FY26 vs Q4 FY25):

  • Revenue from Operations: ₹647.4 Cr (up 82.2% from ₹355.4 Cr in Q4 FY25)
  • EBIDTA*: ₹92.2 Cr (up 35.9% from ₹67.9 Cr in Q4 FY25)
  • EBITDA Margin: 14.2% (down from 19.1% in Q4 FY25)
  • PAT: ₹56.0 Cr (up 48.3% from ₹37.8 Cr in Q4 FY25)
  • PAT Margin: 8.6% (down from 10.6% in Q4 FY25)

Annual Performance (FY26 vs FY25):

  • Revenue from Operations: ₹1,249.3 Cr (up 36.4% from ₹915.8 Cr in FY25)
  • EBIDTA*: ₹175.1 Cr (up 9.3% from ₹160.2 Cr in FY25)
  • EBITDA Margin: 14.0% (down from 17.5% in FY25)
  • PAT: ₹91.7 Cr (up 17.8% from ₹77.8 Cr in FY25)
  • PAT Margin: 7.3% (down from 8.5% in FY25)

*EBITDA is calculated excluding Other Income

Operational Highlights

Strategic Acquisition:

  • Completed acquisition of 100% stake in NOPL Solar Projects Private Limited
  • This acquisition strengthens the Company's renewable energy portfolio and expands participation across the solar value chain

Project Commissioning:

  • Commissioned second 5 MW solar power plant in Ambi Jalgaon, Maharashtra under the PM KUSUM Scheme

Order Book Status

Recent Contract Wins:

  • Two Letters of Award worth ₹531 crores received from MSEDCL for Power Distribution Enhancement Across Nashik and Kolhapur Zones in Maharashtra

Order Book Composition (as on 22nd May 2026):

  • Total order book: ₹5,737 crores
  • Solar: 49%
  • Power T&D: 39%
  • Waste: 11%
  • Railway Infrastructure: 1%

The robust order book provides strong medium-term revenue visibility and reinforces the Company's expanding presence in India's energy transition and infrastructure buildout.

Management Commentary

Mr. Rakesh Markhedkar, Chairman & Managing Director, commented:

  • FY26 was a defining year as the company strengthened position across high-growth infrastructure segments, particularly Solar EPC
  • Scale-up in order book reflects growing customer confidence in execution capabilities
  • Expanded renewable energy footprint through strategic investments that complement EPC capabilities
  • Focus for FY27 remains on disciplined execution, margin improvement, operational efficiencies, and calibrated expansion across Power T&D, Solar and Data Centre
  • Company is well positioned to benefit from strong capex cycle in India's infrastructure and renewable energy sectors
  • Evaluating opportunities in select international markets to further diversify growth trajectory
  • Strong emphasis on governance and risk management

Business Overview

Vikran Engineering Limited is a diversified EPC player with expertise across:

  • Power Transmission & Distribution
  • Water Infrastructure
  • Railway Electrification
  • Emerging capabilities in Solar EPC and Smart Metering

The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning.

Track Record:

  • Successfully completed 45 projects across 14 states
  • Marquee clients include NTPC, Power Grid Corporation of India, state utilities, and public health departments
  • Asset-light model with in-house design and engineering expertise
  • Strong supply chain of 3,500+ vendors ensuring efficient mobilization and timely delivery