Vikran Engineering Limited — M&A Activity 2026

May 20, 2026

VIKRAN ENGINEERING LIMITED

(Formerly Known as VIKRAN ENGINEERING & EXIM PRIVATE LIMITED)

Date: 21st May 2026

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

Dear Sir/Madam,

Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Acquisition of 51% stake in NOPL Solar Projects Private Limited

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with applicable SEBI Circular(s), we hereby inform that the Company has executed a Share Purchase Agreement ("SPA") for acquisition of 51% equity stake in NOPL Solar Projects Private Limited ("Target Entity"), subject to customary conditions precedent as agreed between the parties.

The disclosure as required under Schedule III of the SEBI LODR Regulations read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as amended read with Regulation 30 of the SEBI (LODR) Regulations is attached herewith and marked as Annexure A to this letter.

This is for your information and records.

Thanking You.

Yours faithfully,

FOR VIKRAN ENGINEERING LIMITED

KAJAL
SAGAR
RAKHOLIYA
A

Digitally signed by KAJAL
SAGAR
RAKHOLIYA
Date: 2026.05.21
01:32:04 +05'30'

Kajal Rakholiya
Company Secretary and Compliance Officer
Place: Thane
Encl.: as above

Registered Office: B-2 & B-3, B Wing, 3rd Floor, Ashar IT Park, Road No.16-Z, Wagle Industrial Estate, Thane - 400604.

CIN: L93000MH2008PLC272209 • Email: info@vikrangroup.com • Tel.: 022-68693200

www.vikrangroup.com

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VIKRAN ENGINEERING LIMITED

(Formerly Known as VIKRAN ENGINEERING & EXIM PRIVATE LIMITED)

Annexure I

Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular No. SEBI/ HO/49/14/14 (7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026

Sr. No.	Particulars	Details
a	Name of the target entity, details in brief such as size, turnover etc.	NOPL Solar Projects Private Limited (“Target Entity”), was incorporated on 20th May 2024 with the Paid-up capital INR 1,00,000.
b	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at arm’s length	Yes, the acquisition falls within the ambit of a related party transaction. As One Director and One KMP of the Company are also Directors in NOPL Solar Projects Private Limited, the Target Entity. Further, prior to the present acquisition, the Company was already holding 49% stake in the Target Entity.
Except as stated above, neither the promoter/promoter group/group companies have any other interest in the Target Entity.
The acquisition has been undertaken on an arm’s length basis.
c	Industry to which the entity being acquired belongs	Renewable Energy – Solar Power Generation
d	Objects and impact of acquisition	The acquisition is in line with the Company’s strategy to expand its presence in the renewable energy sector. It will enable business diversification and support long-term growth through participation in solar energy projects.
e	Brief details of any governmental or regulatory approvals required for the acquisition	Not Applicable

Registered Office : B-2 & B-3, B Wing, 3rd Floor, Ashar IT Park, Road No.16-Z, Wagle Industrial Estate, Thane - 400604.

CIN : L93000MH2008PLC272209 • Email : info@vikrangroup.com • Tel.: 022-68693200

www.vikrangroup.com

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VIKRAN ENGINEERING LIMITED

(Formerly Known as VIKRAN ENGINEERING & EXIM PRIVATE LIMITED)

f	Indicative time period for completion of the acquisition	The acquisition of 5,100 Equity Shares, constituting 51% of the paid-up equity share capital of the Target Entity, was completed on 20th May, 2026. Pursuant to the said acquisition and together with the earlier acquisition of 49% equity stake, the Company has acquired 100% stake in the Target Entity.
g	Consideration - whether cash consideration or share swap or any other form and details of the same	Consideration is discharged in cash.
h	Cost of acquisition and/or the price at which the shares are acquired	The aggregate consideration for the acquisition is Rs. 5.10 Crores for acquisition of 5,100 Equity Shares at a price of Rs. 10,000 per Equity Share.
i	Percentage of shareholding / control acquired and / or number of shares acquired	51% of the paid-up equity share capital comprising 5,100 Equity Shares has been acquired by the Company on 20th May 2026.
With the aforesaid acquisition, together with the earlier acquisition of 49% stake, the Company now holds 100% of the paid-up equity share capital of the Target Company, thereby making it a wholly owned subsidiary of the Company.
j	Brief background about the entity acquired	Target Entity was incorporated on 20th May 2024 with the Paid-up capital INR 1,00,000. It is engaged primarily for development, operation and maintenance of solar power projects 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in the renewable energy sector in state of Maharashtra.
The Company has undertaken execution of solar power projects in F.Y. 2025-2026 evidencing its operational progression within the solar energy business.

Registered Office : B-2 & B-3, B Wing, 3rd Floor, Ashar IT Park, Road No.16-Z, Wagle Industrial Estate, Thane - 400604.

CIN : L93000MH2008PLC272209 • Email : info@vikrangroup.com • Tel.: 022-68693200

www.vikrangroup.com