Vikran Engineering Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

The scope of work includes design, engineering, procurement, supply of solar PV modules and inverters, erection, testing and commissioning of the project.

The order follows a restructuring of the project execution framework. The company had earlier received an EPC work order worth Rs 2,035.26 crore from Onix Renewable in December 2025 for execution of a 600 MW project.

Of this, work worth approximately Rs 388.67 crore has been tentatively executed, while the balance contract value of around Rs 1,893.26 crore has been mutually cancelled.

Following Vikran Engineering's acquisition of 100% equity in NOPL Solar Projects, the EPC execution has been realigned, with the project now being executed directly under a work order issued by NOPL.

The company clarified that the cancellation of the earlier Onix Renewable contract was solely due to the revised contractual structure arising from the acquisition and was not related to any dispute, default or performance issue.

It further stated that the revised arrangement is not expected to have any material adverse impact on its operations, financial position or business prospects.

Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.

The company's consolidated net profit jumped 48.31% to Rs 56 crore on a 82.19% increase in revenue to Rs 647.40 crore in Q4 FY26 as compared with Q4 FY25.

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Vikran Engineering announced the cancellation of order worth Rs 354.21 crore from Ellume Energy MH Solar One (SPV) due to prolonged delays in achieving the necessary project readiness milestones at the client's end. The client was unable to provide the required Power Purchase Agreement (PPA), work commencement approvals, design clearances, scope finalization, and mobilization permissions within the expected timelines. Consequently, the commencement of the project remained uncertain, making execution of the work order commercially unviable.

The order pertained to turnkey Engineering, Procurement, and Construction (EPC) Contract for the 100 MW AC Solar Power Project in Maharashtra.

The scope of work includes design, engineering, procurement, supply of solar PV modules and inverters, erection, testing and commissioning of the project.

The order follows a restructuring of the project execution framework. The company had earlier received an EPC work order worth Rs 2,035.26 crore from Onix Renewable in December 2025 for execution of a 600 MW project.

Of this, work worth approximately Rs 388.67 crore has been tentatively executed, while the balance contract value of around Rs 1,893.26 crore has been mutually cancelled.

Following Vikran Engineering's acquisition of 100% equity in NOPL Solar Projects, the EPC execution has been realigned, with the project now being executed directly under a work order issued by NOPL.

The company clarified that the cancellation of the earlier Onix Renewable contract was solely due to the revised contractual structure arising from the acquisition and was not related to any dispute, default or performance issue.

It further stated that the revised arrangement is not expected to have any material adverse impact on its operations, financial position or business prospects.

Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.

The scrip fell 1.19% to end at Rs 70.29 on the BSE on Thursday.

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Vikran Engineering?has accepted a work order dated 26 June 2026 from NOPL Solar Projects?(NOPL) for Designing, Engineering, Procurement, Supply, Erection, Testing and Commissioning on Turnkey EPC Basis (including Supply of Solar PV Modules and Inverters) for development of a 969 MW AC Solar Power Project at multiple locations in the State of Maharashtra, aggregating to Rs 3,517.98 crore.

The Company had earlier accepted a work order from Onix Renewable on 23 December 2025 for execution of the EPC works for the 600 MW project for Rs 2035.26 crore. Against the said earlier arrangement, work to the extent of around Rs 388.67 crore had been tentatively executed and the balance order value of around Rs 1,893.26 crore stands mutually cancelled pursuant to the revised contractual arrangement.

Pursuant to the acquisition of 100% equity stake in NOPL by the Company, the project execution structure has been realigned and the EPC works for the project will now be executed directly under the work order awarded by developer (NOPL). Accordingly, the earlier work order issued by Onix Renewable has been mutually cancelled and replaced by the direct Work Order from NOPL for the same project vide letter dated 23 June 2026 from Onix Renewable to NOPL and Company. This change is solely on account of the restructuring of contractual arrangements following the acquisition and does not arise due to any dispute, default or performance-related issue.