Summary of Key Information:

Reporting Period (Quarter/Year): Quarter ended 30 June 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Quarterly Financial Results and Regulatory Disclosures

Audit Opinion:

Clean opinion with an emphasis of matter paragraph regarding ongoing litigation.

Auditor’s Comment:

The auditor draws attention to Note 5/6 regarding uncertainty about the outcome of an ongoing litigation with a customer for recoverability of ₹2,926 lakhs, currently pending in the Commercial Court, Jaipur. The next hearing is scheduled for 29 September 2026. Management considers the amount good and recoverable based on contractual tenability and legal opinion. No adjustments have been made in the financial statements. The auditor's conclusion is not modified in respect of this matter.

Consolidated Results:

(All amounts in INR lakhs)

Quarter ended 30 June 2026:

  • Revenue from operations: 14,159
  • Other income: 1,019 (includes ₹581 lakhs write-back of provident fund liabilities/provisions)
  • Total income: 15,178
  • Total expenses: 14,635
  • Profit before share of loss of an associate, exceptional item and tax: 543
  • Exceptional item - expense: (121) [Related to implementation of New Labour Codes]
  • Profit before share of loss of an associate and tax: 422
  • Share of loss from an associate: (0)
  • Profit before tax: 422
  • Total tax expense: 23
  • Profit for the period: 399
  • Other comprehensive loss: (7)
  • Total comprehensive income: 392
  • Profit attributable to owners of the Holding Company: 399
  • Total comprehensive income attributable to owners of the Holding Company: 392
  • Paid up equity share capital: 2,579
  • Other equity: 1,21,158
  • Basic EPS: ₹0.15
  • Diluted EPS: ₹0.15

Comparatives:

Quarter ended 30 June 2025:

  • Revenue from operations: 15,916
  • Profit for the period: 565
  • Basic EPS: ₹0.31

Year ended 31 March 2026:

  • Revenue from operations: 1,24,931
  • Profit for the year: 9,170
  • Basic EPS: ₹4.05

Segment-wise Performance:

The Group is principally engaged in a single business segment viz. Engineering, Procurement and Construction (EPC) services. The Group's Chief Operating Decision Maker (CODM) monitors and reviews the operating results of the Group prepared on the basis of financial information of EPC business as a whole. The Group operates only within India.

Corporate Actions:

  • The Company acquired 49% equity stake in NOPL Solar Projects Private Limited for ₹490 lakhs on 27 April 2026, making it an associate
  • Acquired remaining 51% equity stake for ₹510 lakhs on 20 May 2026, making NOPL a wholly owned subsidiary
  • The Company subscribed to 100% paid-up equity share capital of ₹1 lakh in Vikran Renewable Private Limited on 04 May 2026, making it a wholly-owned subsidiary
  • The Company subscribed to 100% paid-up equity share capital of ₹1 lakh in Vikran For Good Foundation on 04 May 2026, making it a wholly-owned subsidiary (incorporated under Section 8 for CSR activities)

Other Significant Information:

  • The Government of India implemented New Labour Codes effective 21 November 2025, resulting in an exceptional expense of ₹121 lakhs (₹55 lakhs gratuity liability + ₹66 lakhs compensated absence) due to past service cost from change in definition of "wages"
  • Other income includes ₹581 lakhs write-back of certain liabilities/provisions related to provident fund after conclusion of assessments and receipt of order from statutory authority
  • The Company notes that quarterly results may vary widely due to project-based nature of business and may not be directly comparable
  • This is the second quarter for which consolidated financial results are presented (first consolidation was for Q4 FY26)