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Vikran Engineering Limited — Earnings Release 2026
Feb 13, 2026
59110_rns_2026-02-14_f61510d4-72ab-45f0-9ccb-5b40b996a43c.pdf
Earnings Release
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Date: 14[th] February 2026
| To The General Manager Department of Corporate Services, BSE Limited Phiroze Jee Jee Bhoy Tower Dalal Street, Fort Mumbai – 400001 ScripCode: 544496 |
To The General Manager Department of Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kural Complex, Bandra (East), Mumbai – 400051 Symbol: VIKRAN |
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Sub: Press Release -Vikran Engineering Limited announces its un-audited financial results for the third quarter and nine month ended 31[st] December 2025
Dear Sir/Ma’am,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we hereby enclosed herewith Press Release update regarding un-audited financial results of Vikran Engineering Limited for the third quarter and nine month ended on 31[st] December 2025.
The above information is also available on the Company’s website at vikrangroup.com
This is for your information and records.
Thanking You.
Yours faithfully,
FOR VIKRAN ENGINEERING LIMITED
Digitally signed by KAJAL SAGAR KAJAL SAGAR RAKHOLIYA RAKHOLIYA Date: 2026.02.14 01:18:47 +05'30'
Kajal Rakholiya Company Secretary and Compliance Officer Mem. No. A45271 Place: Thane Encl.: as above
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Vikran Engineering Reports 9M FY26 Revenue Growth; Order Book expands to ₹4,987 crore, Registering over 140% YoY and 120% QoQ growth, driven by strong Solar project wins
Mumbai, February 14[th] , 2026: Vikran Engineering Limited, one of India’s fast-growing EPC companies with presence across Power Transmission & Distribution, EHV Substation, Railway & Metro Electrification, and Water Segment today announced its un-audited financial results for the third quarter and nine month ended December 31[st] , 2025.
The Company’s consolidated order book has witnessed a substantial expansion and stands at over ₹4,987 crore as of December 31[st] , 2025, compared to ₹2,027 crore as on December 31[st] , 2024, reflecting growth of 146%. This robust increase provides strong revenue visibility and reinforces execution momentum over the next two years.
Key Consolidated Highlights:
| Particulars(₹ Cr.) | Q3 FY26 | Q3 FY25 | Q2 FY26 | 9M FY26 | 9M FY25 |
|---|---|---|---|---|---|
| Revenue from Operations | 266.5 | 265.2 | 176.3 | 601.9 | 560.5 |
| EBIDTA* | 34.9 | 65.2 | 25.4 | 82.9 | 92.4 |
| EBITDA Margin(%) | 13.1% | 24.6% | 14.4% | 13.8% | 16.5% |
| PAT | 20.9 | 33.7 | 9.1 | 35.7 | 40.0 |
| PAT Margin(%) | 7.8% | 12.7% | 5.2% | 5.9% | 7.1% |
*EBITDA is calculated excluding Other Income
Operational Highlights:
- Company has incorporated a Special Purpose Vehicle (SPV), namely Vikran MP Solar Private limited
Order Book:
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Secured a prestigious order from Onix Renewables Limited for supply of 600 MW AC solar plant offering end-to-end turnkey services worth ₹2,035.3 crores
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Won an EPC Contract from NTPC Renewable Energy for 400 MW AC Solar Project in Uttar Pradesh worth ₹459.2 crores offering Balance of System (BoS) work.
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Won an order from M.P. Urja Vikas Nigam Limited for the implementation of grid-connected Solar PV based power plants with a total capacity of 45.75 MW AC
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Cancellation of order from Carbonminus Maharashtra One Private Limited worth Rs. 1,641.91 crores post detailed internal review, reflecting the management’s strong commitment to prudence, risk assessment, and long-term strategic alignment.
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Commenting on the overall performance of the Company, Mr. Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering Limited said,
“ FY26 marks a pivotal year for Vikran Engineering as we significantly strengthened our presence in the Solar EPC segment. The large-format solar orders secured during the year have materially enhanced our revenue visibility, with our consolidated order book now exceeding ₹4,700 crore as on 13[th] February 2026.
While margins during the period reflect execution ramp-up and project mix dynamics, we expect operating leverage benefits to play out as solar projects move into advanced execution phases.
With a strong pipeline across Power T&D, Solar and Water, and a clear focus on disciplined bidding and risk management, we are positioning Vikran Engineering for scalable and sustainable growth. We are also actively evaluating opportunities in select international markets, particularly in Africa and the Middle East, to diversify our growth trajectory ”
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 conceptualisation, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution.
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 visitwww.vikrangroup.com | For more information, please visitwww.vikrangroup.com |
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| ~~For further information please contact:~~ | |
Vikran Engineering Limited, Ms. Kajal Rakholiya Company Secretary & Compliance Officer [email protected] |
Mr. Sumit Kinikar / Mr. Bhavya Aggarwal Adfactors PR [email protected] / [email protected] |
Cautionary statement concerning forward-looking statements:
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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