Vikran Engineering Q1 FY27 Earnings Call Transcript Released
Vikran Engineering reported Q1 FY27 standalone revenue growth of 28% and PAT growth of 212%. The company is executing a ₹3,518 crore solar EPC project in Maharashtra via its subsidiary NOPL. The order book stands at ₹6,496 crore, with solar EPC at 62%. Power T&D business secured orders worth ₹530 crore from MSEDCL and ₹120 crore from Power Grid.
The announcement details strong financial performance, strategic acquisitions, significant project wins, and a robust order book, all of which are material information for investors and indicate substantial business growth and future potential.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT on a standalone basis, with significant improvements in margins. Strategic acquisitions and project advancements, alongside new order wins, indicate positive business momentum.
Vikran Engineering Limited announced the transcript of its Q1 FY27 Earnings Conference Call, held on August 12, 2026. The call featured insights from Chairman and Managing Director Mr. Rakesh Markhedkar, Whole-Time Director Mr. Nakul Markhedkar, and CFO Mr. Ashish Bahety.
During the quarter ended June 30, 2026, the company reported strong year-on-year growth on a standalone basis. Revenue increased by approximately 28%, with EBITDA growing by 24% and Profit After Tax (PAT) surging by 212%. The standalone PAT margin improved significantly to 8.6% from 3.5% in the corresponding quarter last year.
A key strategic focus for Vikran Engineering is strengthening its presence in renewable energy, particularly solar EPC. Following the acquisition of NOPL Solar Project Private Limited, the company has realigned its execution framework for a 969 megawatt AC solar project in Maharashtra. Vikran is undertaking the EPC execution for this project, valued at approximately ₹3,518 crore, directly from NOPL. This move aims to enhance alignment between project ownership and EPC execution, leveraging the company's engineering and project management capabilities.
The Power Transmission & Distribution (T&D) business remains a core strength. The company secured orders worth approximately ₹530 crore from MSEDCL for distribution infrastructure and system strengthening. Additionally, orders worth around ₹120 crore were secured from Power Grid Corporation of India for a 400 KV GIS substation extension. The successful commissioning of the Miao-Namsai transmission line in Arunachal Pradesh was highlighted as a testament to their execution capabilities in technically challenging projects.
As of the reporting date, Vikran's order book stands at approximately ₹6,496 crore, with solar EPC accounting for 62%, Power T&D at 28%, and water infrastructure at 10%. The company emphasized a disciplined approach to growth, focusing on execution-ready opportunities, prudent bidding, working capital discipline, and sustainable project-level returns.
On a consolidated basis, income from operations stood at ₹141.6 crore, with consolidated EBITDA at around ₹11.3 crore and a PAT of ₹4 crore. The consolidation of NOPL, now a 100% subsidiary, is expected to contribute significantly as the project progresses. The company is also exploring opportunities in adjacent areas such as battery energy storage systems and data center infrastructure.
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