Vikran Engineering Ltd

Vikran Engineering Limited has submitted a declaration regarding an unmodified opinion from its statutory auditors, Walker Chandiok & Co LLP, on its audited standalone and consolidated financial results for the financial year ended March 31, 2026. This submission follows a clarification request from BSE and rectifies an inadvertent omission of the separate declaration with the initial filing of the financial results on May 22, 2026. The company confirms the auditors' positive assessment of its financial statements.

Vikran Engineering Ltd's Board of Directors has approved the issuance of corporate guarantees up to ₹3,400 Crores for its wholly-owned subsidiaries to facilitate their business operations and solar projects. Additionally, the board approved a promoter contribution of up to ₹1,160 Crores into these subsidiaries, which can be infused through various instruments like equity, loans, or NCDs. These measures aim to meet project financing requirements and support the subsidiaries' business needs. The meeting also authorized the Corporate Affairs Committee to finalize terms and execute necessary agreements for the corporate guarantees.

Vikran Engineering Ltd has informed the stock exchanges about the cancellation of a previously accepted Letter of Award (LOA) from Ellume Energy MH Solar One Private Limited. The order, valued at approximately ₹354.21 crore, was for a 100 MW AC Solar Power Project in Maharashtra. The cancellation is attributed to prolonged delays by the client in meeting project readiness milestones, including the inability to provide a Power Purchase Agreement (PPA) and other necessary approvals within expected timelines. Vikran Engineering stated that the project's commencement remained uncertain, rendering its execution commercially unviable. The company emphasized that the cancellation is by mutual understanding and is not expected to have a material adverse impact on its overall business operations or financial performance. Vikran Engineering remains focused on strategically aligned and execution-ready opportunities.

Vikran Engineering Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be shut from July 1, 2026, until 48 hours after the declaration of the company's unaudited financial results for the quarter ended June 30, 2026. The exact date of the board meeting to approve these results will be communicated later. This measure is standard practice to prevent potential insider trading before the public release of financial information.

Vikran Engineering Limited has received a significant work order from NOPL Solar Projects Private Limited (a wholly-owned subsidiary) for the development of a 969 MW AC Solar Power Project in Maharashtra. The project, valued at ₹3517.98 Crores inclusive of GST, will be executed on a turnkey EPC basis. This new order replaces a previous arrangement with Onix Renewable Limited, which has been mutually cancelled due to a restructuring of contractual arrangements following Vikran Engineering's acquisition of NOPL. The company anticipates no material adverse impact on its operations or financial position from this change.

Vikran Engineering Ltd has approved the allotment of 40 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) aggregating to ₹20 Crores. The allotment was made on a private placement basis at a face value of ₹50 Lakhs per NCD. The debentures carry a fixed coupon rate of 11% per annum, with monthly interest payments and principal repayment due on June 8, 2028. A subservient charge over current assets has been created as security. The debentures are not proposed to be listed on any stock exchange. This move aims to raise capital through debt financing.

Vikran Engineering Ltd has announced the allotment of 20 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) aggregating to ₹10 Crores. The NCDs have a face value of ₹50 Lakhs each, a tenure of 24 months, and a fixed coupon rate of 11% per annum, with monthly interest payments and principal repayment on maturity. The issuance was done on a private placement basis and is not proposed to be listed on any stock exchange. A subservient charge over current assets has been created as security. The debentures are redeemable at par on maturity out of internal accruals or other permissible sources.

Vikran Engineering Ltd. has disclosed the contact details of its Key Managerial Personnel (KMP) as authorized by the Board of Directors. This information is provided to determine the materiality of events or information and to ensure compliance with Regulation 30(5) of the Listing Regulations, 2015. The authorized personnel include Chairman & Managing Director, Whole-Time Directors, Chief Financial Officer, and Company Secretary & Compliance Officer.

Vikran Engineering Ltd announced its audited financial results for FY26, reporting a 36.4% increase in revenue from operations to ₹1,249.3 Cr. The company's consolidated order book crossed ₹5,000+ crores as of March 31, 2026, driven by Solar EPC wins. Vikran also completed the acquisition of NOPL Solar Projects Private Limited and commissioned a 5 MW solar power plant in Maharashtra. EBITDA increased by 9.3% to ₹175.1 Cr, while PAT rose by 17.8% to ₹91.7 Cr.

Mr. Mukesh Nandan Jha, Senior General Manager - Procurement (Senior Managerial Personnel) of Vikran Engineering Ltd, has resigned from his position effective May 22, 2026, to pursue better professional growth opportunities outside the company. His last working day will be June 20, 2026. The company has disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.