Vikran Engineering Limited — Capital/Financing Update 2025

Dec 23, 2025

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Date: 23[rd] December 2025

To, To, The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai-400001. Mumbai –400051. (Scrip Code: Equity - 544496 ) (Scrip Symbol: VIKRAN )

Sub: Press Release -Order Win of INR 2035.26 Crores

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Press Release pertaining to the award of an EPC Contract of INR 2035.26 Crores for solar plant development of 600 MW AC at multiple locations in the State of Maharashtra.

This is for your information and record.

Thanking You,

Yours faithfully,

FOR VIKRAN ENGINEERING LIMITED

Digitally signed KAJAL by KAJAL SAGAR SAGAR RAKHOLIYA RAKHOLIYA Date: 2025.12.23 18:08:26 +05'30' Kajal Rakholiya Company Secretary and Compliance Officer Place: Thane Encl.: as above

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PRESS RELEASE

Vikran Engineering Secures ₹2,035 Crore EPC Order for 600 MW Solar Power Projects in Maharashtra

600 MW AC solar capacity across multiple locations in Maharashtra marks a major scale-up in the company’s renewable energy EPC portfolio.

Mumbai, December 23, 2025: Vikran Engineering Limited (VEL), one of India’s emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, today announced that it has received a major work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in the state of Maharashtra.

The work order, accepted on December 23, 2025, entails execution of the project on a turnkey EPC basis , covering end-to-end activities including design, engineering, procurement, supply, erection, testing, and commissioning. The scope of work also includes the supply of key components such as solar PV modules and inverters . The project is expected to be completed within a 12-month timeline .

Commenting on the development, Rakesh Markhedkar , Chairman and Managing Director, Vikran Engineering Limited, said:

“This order marks an important milestone for Vikran Engineering and reflects the strong momentum we are witnessing in our renewable energy EPC business. It is a clear vote of confidence in our engineering depth, project management capabilities, and ability to deliver large-scale solar projects with speed and quality. This win meaningfully strengthens our order book and positions us well for sustained growth, as we continue to support India’s clean energy ambitions through reliable, timely, and sustainable infrastructure development.”

This order win significantly enhances Vikran Engineering’s renewable energy portfolio and complements its established presence across power transmission and distribution, water infrastructure, and railway electrification . It also reinforces the company’s strategic focus on scaling participation in large, complex infrastructure projects while maintaining high standards of execution and delivery.

About Vikran Engineering Limited:

Vikran Engineering Limited is a diversified EPC player with expertise across Power Transmission & Distribution, Water Infrastructure, and Railway Electrification, supported by emerging capabilities in Solar EPC and Smart Metering. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution.

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Over the years, Vikran has successfully completed 45 projects across 14 states with marquee clients including NTPC, Power Grid Corporation of India, state utilities, and public health departments. The company’s assetlight model, in-house design and engineering expertise, and strong supply chain of 3,500+ vendors ensure efficient mobilization and timely delivery of projects.

For more information, please visit www.vikrangroup.com

For further information please contact:

Karishma Rohra / Manasvi Bhutala

Adfactors PR

karishma.rohra@adfactorspr.com / manasvi.butala@adfactorspr.com

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