Vikran Engineering Secures ₹3,518 Crore Solar Project Order from NOPL
Vikran Engineering Limited secured a ₹3,517.98 Crore EPC contract from its subsidiary NOPL for a 969 MW solar project in Maharashtra. The 12-month project order replaces a prior contract, with no adverse impact expected due to internal restructuring post-acquisition.
The value of the new order is significant (₹3,517.98 Crores), representing a major business development for the company.
The company has secured a substantial new order, which is positive for its business outlook.
Vikran Engineering Limited has announced the receipt of a significant work order valued at ₹3,517.98 Crores from NOPL Solar Projects Private Limited (a wholly-owned subsidiary of Vikran Engineering). This order is for the Designing, Engineering, Procurement, Supply, Erection, Testing, and Commissioning on a Turnkey EPC Basis for a 969 MW AC Solar Power Project spread across multiple locations in Maharashtra. The contract includes the supply of Solar PV Modules and Inverters.
This new order from NOPL replaces a previous work order accepted on December 23, 2025, from Onix Renewable Limited for a 600 MW project worth ₹2,035.26 Crores. Due to Vikran Engineering's acquisition of 100% equity in NOPL, the project execution structure has been realigned, leading to the cancellation of the earlier order with Onix Renewable Limited. The balance order value of approximately ₹1,893.26 Crores from the Onix Renewable Limited contract stands mutually cancelled. The company has clarified that this change is a result of contractual restructuring following the acquisition and is not due to any dispute, default, or performance-related issues. The cancellation and the new direct order from NOPL are not expected to have any material adverse impact on the company's operations, financial position, or business prospects.
The execution period for the new work order is 12 months. The director and key management personnel of Vikran Engineering also hold directorships in NOPL, and the contract is considered an arm's length transaction.
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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.