Vikran Engineering Secures ₹2,035 Crore Solar Plant Order from Onix Renewables
Vikran Engineering Limited secured a ₹2,035.26 Crore work order from Onix Renewables for a 600 MW solar plant in Maharashtra. The 12-month project includes EPC services. Total value with GST is ₹2,216.40 Crores. No promoter interest in the awarding entity.
The value of the order (₹2,035.26 Crores) is substantial relative to the company's size and is expected to significantly boost revenue and profitability.
The company has received a large work order, which is a positive development for its business.
Vikran Engineering Limited has announced the receipt of a significant work order valued at ₹2,035.26 Crores (excluding GST) from Onix Renewables Limited (SPV). This contract is for the development of a 600 MW AC solar plant, which will be executed on a turnkey EPC basis.
The scope of work includes design, engineering, procurement, supply, erection, testing, and commissioning, encompassing the supply of Solar PV Modules and Inverters. The project is slated for development across multiple locations within the State of Maharashtra.
The execution period for this substantial order is set at 12 months. The total consideration, including all applicable taxes and GST, amounts to ₹2,216.40 Crores. The company confirmed that neither the promoter nor any group companies have any interest in Onix Renewables Limited, and the order does not fall under related party transactions.
What to do with a filing like this
Vikran Engineering Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Vikran Engineering Limited. Read the original for the full detail.