Thane : Vikran Engineering Limited, one of India’s fast-growing EPC companies with a diversified presence across Power Transmission & Distribution, EHV Substations, Railway & Metro Electrification, Water Infrastructure, Renewable Energy, and emerging Data Centre infrastructure, today announced its unaudited financial results for the second quarter and half year ended September 30 th, 2026.
The Company continues to maintain a healthy project pipeline supported by a diversified order book across Renewable Energy, Power Transmission & Distribution, Water Infrastructure and Railway Electrification, providing strong revenue visibility over the medium term.
Key Standalone Highlights
Q2 & H1 FY27 Performance
*EBITDA is calculated excluding Other Income.
Recent Operational Highlights:
- Successfully commissioned the 132 kV Miao-Namsai Transmission Line in Arunachal Pradesh, covering 40.6 km and 138 tower foundations, reinforcing the Company’s execution capabilities in challenging terrains
- Secured a ₹120.7 crore order from POWERGRID for a 400 kV GIS Substation Extension Package across Magarwada, Vadodara and Rajgarh, strengthening Vikran’s presence in high-voltage transmission infrastructure
- Secured a ₹153.76 crore order from POWERGRID for a 400 kV AIS Substation Extension at Tumkur-II, including STATCOM-related civil works, strengthening its high-voltage transmission EPC portfolio.
- Secured ₹2,941.19 crore term loan financing from IREDA for the 969 MW AC Solar EPC project through wholly owned subsidiary NOPL Solar Projects, strengthening project funding and supporting execution of the large-scale renewable energy project.
- Total Order Book as on 31st October 2026 stood at ₹6,257.53 crores.
- Order Book Mix:
- Solar – 60%
- Power T&D – 29%
- Water Infrastructure – 10%
- Railway Infrastructure – 1%
Commenting on the performance of the Company, Mr. Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering Limited, said:
“We have delivered healthy growth in our standalone business during H1 FY27, with revenue from operations increasing by approximately 27% year-on-year to ₹424.1 crore. Profit after tax grew by around 71.7% to ₹25.38 crore, reflecting improved profitability during the first half. While EBITDA remained broadly stable at ₹48.13 crore, we remain focused on improving operating margins and maintaining financial discipline as we scale our business.
The integration of NOPL Solar Projects marks an important milestone in strengthening our renewable energy platform. With the project covering 152 locations across Maharashtra and a planned capacity of 969 MW AC, our immediate focus is on disciplined execution and effective coordination across project locations. The term loan facility agreement with IREDA for financing up to ₹2,941.19 crore, at an interest rate of 9.15%, is an important step in supporting the project. Disbursement will be aligned with execution progress across the eight project clusters.
Our core Power Transmission & Distribution business continues to strengthen its presence in high-voltage infrastructure. During the period, we received two orders from POWERGRID: approximately ₹120.69 crore for the 400 kV GIS Substation Extension Package and ₹153.76 crore for the 400 kV AIS Extension Substation Package, both excluding GST. The commissioning of the 132 kV Miao–Namsai transmission line in Arunachal Pradesh further demonstrates our execution capabilities.
Looking ahead, we remain focused on timely project execution, strengthening our presence across power transmission and renewable energy infrastructure, and improving operating efficiency. Our priorities continue to be disciplined project selection, prudent working capital management and sustainable long-term value creation for our stakeholders.”
