Vikran Engineering Ltd

Vikran Engineering Ltd has issued a corrigendum to its 18th Annual Report for the Financial Year 2025-26, correcting inadvertent typographical errors. The corrections pertain to the remuneration disclosure for directors on page 128, where the column heading was amended from 'Salary per month (in Rs.)' to 'Remuneration for FY 25-26 (in Rs.)'. Additionally, the time of the Annual General Meeting on page 130 was corrected from '03:00 A.M.' to '11:30 A.M.'. The company has submitted a revised Annual Report incorporating these changes, clarifying that no other modifications were made to the original report.

Vikran Engineering Ltd has disclosed receipt of a Show Cause Notice cum Order from the State Taxes Officer, Kashmir, concerning goods found in transit without a valid E-Way Bill and tax invoice. The company has paid a penalty of ₹4,01,400/- levied under Section 129(3) of the CGST Act, 2017. An appeal against the order is currently being processed. The company stated that it does not foresee any material impact on its financial or operational activities due to this incident. The disclosure was made in compliance with SEBI regulations.

Vikran Engineering Ltd has announced the record date for the payment of its final dividend for the Financial Year ended March 31, 2026. The Board of Directors had recommended a dividend of ₹0.18 per equity share (18%) of face value ₹1. This recommendation is subject to shareholder approval at the upcoming 18th Annual General Meeting. The record date for determining entitlement to this dividend has been fixed as Friday, August 28, 2026. Dividend payments are scheduled to commence on or after Monday, September 14, 2026. The last date for submitting tax deduction or exemption forms is Wednesday, August 26, 2026.

Vikran Engineering Ltd has dispatched letters to shareholders without registered email IDs, providing a weblink and QR code to access the Notice of the 18th Annual General Meeting (AGM) and the Annual Report for FY2025-26. The AGM is scheduled for September 11, 2026, via Video Conference. The company also announced a final dividend of ₹0.18 per equity share for FY2025-26, with a record date of August 28, 2026. E-voting will be open from September 7 to September 10, 2026. Shareholders are urged to update their KYC details for dividend credit.

Vikran Engineering Ltd has announced the convening of its 18th Annual General Meeting (AGM) scheduled for September 11, 2026, at 11:30 AM IST. The meeting will be conducted entirely through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). Key agenda items include the adoption of audited financial statements for FY 2025-26, the appointment of Mr. Nakul Markhedkar as a Director, and the declaration of a final dividend of ₹0.18 per equity share for FY 2025-26. Additionally, the company will seek approval for an amendment to the Object Clause of its Memorandum of Association. The notice and annual report are being sent electronically to registered members, with a web-link provided to others. Remote e-voting is available from September 7 to September 10, 2026.

Vikran Engineering Limited has filed its Annual Report for the Financial Year ended March 31, 2026, as per SEBI regulations. The report highlights the company's significant growth and strategic diversification into the renewable energy sector, which has become a major driver of its order book. The company also announced its successful listing on the NSE and BSE in September 2025. The report details business verticals, project execution, financial statements, and corporate governance. Vikran Engineering emphasizes its commitment to building India's infrastructure, focusing on power, clean energy, mobility, and water sectors.

Vikran Engineering Ltd has announced the allotment of Non-Convertible Debentures (NCDs) across two tranches. Tranche II, amounting to ₹3.50 Crores, was allotted on August 3rd, 2026, and Tranche III, for ₹6 Crores, was allotted on August 7th, 2026. These are Secured, Unrated, Unlisted, Redeemable, Taxable NCDs with a tenure of 12 months and 5 days, carrying a fixed coupon rate of 11.40% per annum, payable monthly. The principal repayment is structured with 95% due in November 2026 and the remaining 5% in August 2027. This issuance is part of a larger ₹20 Crores NCD program, with ₹10.50 Crores already allotted previously.

Vikran Engineering Ltd announced its unaudited financial results for Q1 FY27, reporting a significant 28.2% year-on-year revenue growth to ₹204.0 crore. EBITDA increased by 23.7% to ₹28.0 crore, while PAT saw a substantial surge of 209.9% to ₹17.5 crore. The company highlighted key operational wins, including a large 969 MW AC Solar EPC project worth ₹3,517.98 crore and a ₹120.7 crore order from POWERGRID. The total order book stands at ₹6,496.2 crore, with Solar and Power T&D forming the largest segments. The company expressed confidence in structural growth opportunities in power and renewable energy infrastructure.

Vikran Engineering Ltd has announced its unaudited financial results for the quarter ended June 30, 2026. The results were reviewed by Walker Chandiok & Co LLP, who found no material misstatements. A significant note highlights an ongoing litigation with a customer concerning a recoverable balance of INR 2,926 lakhs, which the management considers good and recoverable. The auditor's conclusion was not modified regarding this matter.

Vikran Engineering's standalone revenue for the quarter ended 30 June 2026 rose 28.2% YoY to ₹203.99 Cr (₹159.16 Cr in Q1 FY26), with standalone PAT up 209.9% YoY to ₹17.51 Cr as NPM nearly doubled to 8.58% from 3.55% a year ago. Management's own release cites ~28% revenue growth and ~24% YoY EBITDA growth with margins broadly stable — both check out: standalone EBITDA works out to roughly ₹28 Cr versus ~₹22.7 Cr a year ago (+24%), with OPM near-flat at ~13.7% against 14.2% in Q1 FY26. On a consolidated basis — now the primary lens, since NOPL Solar Projects (taken from 49% associate to wholly-owned subsidiary effective 20 May 2026) and Vikran MP Solar are consolidated for the first time this quarter — revenue was ₹141.59 Cr and PAT ₹3.99 Cr, with NPM just 2.82% and OPM roughly 8%, materially below the standalone print and below management's guided 14-15% EBITDA margin band. There is no consolidated Q1 FY26 comparable to measure this against; the gap versus standalone reflects elimination of intercompany EPC revenue and margin that the parent recognises on its own subsidiaries' solar projects, a mechanical consolidation effect rather than weaker underlying execution, but it means the headline ₹204 Cr/28% growth story sits well above the ₹4 Cr consolidated bottom line. Against the FY27 guidance from the Q4 FY26 call (₹2,200-2,500 Cr revenue, 14-15% EBITDA margin, cash-flow positive by FY28), one quarter in is too early to call beat/met/missed on the full-year number, but standalone OPM (~13.7%) sits just inside the guided band while consolidated OPM (~8%) does not — a margin gap by basis worth tracking. QoQ, both revenue (-78.1%) and consolidated PAT (-92.9%) look sharply down against Q4 FY26 (₹647.40 Cr revenue, ₹56.00 Cr PAT), but Q4 is typically the heaviest EPC billing/certification quarter, and the filing's own notes caution that quarterly results 'may not be directly comparable' given project-linked revenue recognition — this is read as seasonal loading rather than a sequential slowdown, and is not the headline. No consensus/street estimates specific to this quarter turned up in a search of financial media for a company only recently listed, so vsStreet is marked unknown rather than guessed. The quarter's corporate actions tie directly into the numbers: completion of the NOPL Solar Projects acquisition and incorporation of Vikran Renewable Private Limited and Vikran For Good Foundation sit alongside a ₹120.69 Cr POWERGRID order win (31 July) and commissioning of a 132 kV transmission line in Arunachal Pradesh (29 July), consistent with continued transmission/EPC order-book execution. Debt moves this quarter (₹20 Cr NCD issuance, ₹15 Cr debenture redemption) come alongside board approvals on 11 August for up to ₹1,000 Cr in NCD/commercial-paper headroom, a raised ₹1,500 Cr overall borrowing limit, and ₹400 Cr in corporate guarantees to the two solar subsidiaries as performance security — funding tools for the EPC-into-subsidiary model that is also driving the standalone-consolidated gap above. Auditors flagged (unmodified opinion, both statements) an unresolved ₹29.26 Cr receivable tied to litigation with a customer in the Commercial Court, Jaipur, with the next hearing on 29 September 2026; management continues to treat the amount as good and recoverable.