Vikran Engineering Ltd

Vikran Engineering Ltd has announced a change in its Corporate Identification Number (CIN) from L93000MH2008PLC272209 to L42202MH2008PLC272209. This change is a result of an alteration to the Objects Clause of the company's Memorandum of Association (MOA), which was approved by the shareholders via a Special Resolution at the Annual General Meeting held on September 11, 2026. The Ministry of Corporate Affairs has registered this alteration.

Vikran Engineering Limited's wholly-owned subsidiary, NOPL Solar Projects Private Limited, has entered into a facility agreement with Indian Renewable Energy Development Agency Limited (IREDA) for a rupee term loan of up to ₹2,941.19 crore. This loan will part-finance the development of a 969 MWac / 1,163 MWp solar photovoltaic power project across 152 locations in Maharashtra, with an estimated project cost of ₹4,201.70 crore. The financing arrangements for the EPC contract awarded to Vikran Engineering Limited by NOPL for Rs. 3517.98 Crores are now finalized, marking a significant step towards project implementation. Vikran Engineering Limited will provide a corporate guarantee for the loan.

Vikran Engineering Ltd's Board of Directors approved a corporate guarantee of up to ₹2941.19 Crores for its wholly-owned subsidiary to facilitate credit facilities for business operations and solar projects. Additionally, the board approved an infusion of up to ₹200 Crores as promoter contribution into the subsidiary, which can be made through various instruments like equity, unsecured loans, or NCDs. The board also took note of and approved the Cost Audit Report for the Financial Year 2025-26, authenticated by the company's cost auditor.

Vikran Engineering Ltd has received a Show Cause Notice (SCN) from the Office of Deputy Commissioner, State Tax, Jaipur, under various sections of RGST, CGST, and IGST Acts for the Financial Year 2022-23. The notice alleges utilization of excess Input Tax Credit (ITC). The total tax demand raised is ₹33,414,995.21, with interest amounting to ₹24,124,710.00 and a penalty of ₹3,341,498.00. The company received the notice on September 28, 2026. Vikran Engineering states it does not foresee any material impact on its financial or operational activities and plans to file a detailed reply, asserting a strong case on merits.

Vikran Engineering Ltd has received a Show Cause Notice (SCN) from the Office of Deputy Commissioner, State Tax, Jaipur, concerning alleged GST TDS turnover mismatch for FY 2022-23. The notice includes a tax demand of ₹45,079,720, interest of ₹28,389,108, and a penalty of ₹4,507,972, totaling approximately ₹7.8 crore. The company stated that it does not foresee any material impact on its financial or operational activities and intends to file a detailed reply, asserting a strong case on merits.

Vikran Engineering Ltd has received a Show Cause Notice (SCN) in Form GST DRC-01A from the Deputy Commissioner, State Tax, Jaipur. The notice pertains to the financial year 2022-23 and alleges excess Input Tax Credit (ITC) claimed in GSTR-3B which was not confirmed in GSTR-2A/GSTR-2B. The tax demand raised is ₹83,61,982.91, with proposed interest of ₹62,71,486.00 and penalty of ₹8,36,196.00. The company stated that it does not foresee any material impact on its financial or operational activities and intends to file a detailed reply, believing it has a strong case on merits.

Vikran Engineering Limited has secured a significant order worth ₹153.76 Crore (exclusive of GST) from Power Grid Corporation of India Limited (POWERGRID). The order is for the 400 kV AIS Extension Substation Package SS-136T, involving the extension of the 400/220 kV Tumkur-II (AIS) Pooling Substation and civil works for a STATCOM. This project is crucial for strengthening transmission systems and integrating renewable energy. The execution schedule is set at 21 months. This win reinforces Vikran's position in high-voltage transmission infrastructure and adds to its order book.

Vikran Engineering Ltd has received a Demand Cum Show Cause Notice (SCN) from the Office of Additional Commissioner, CGST & CX, Patna-I, under Section 73 of the CGST Act, 2017. The notice, dated September 22, 2026, pertains to the Financial Year 2022-23 and raises a tax demand of ₹5,34,45,785 and a penalty of ₹53,44,579. The alleged violations include discrepancies between GSTR-2A and GSTR-3B, non-payment of tax on reverse charge basis, and turnover differences as per TDS supplies. The company stated that it does not foresee any material impact on its financial or operational activities and will respond within the specified timeframe.

Vikran Engineering Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will be shut from October 1, 2026, until 48 hours after the declaration of the company's unaudited financial results for the quarter and half-year ended September 30, 2026. The exact date of the board meeting to approve these results will be communicated later. The company advises all relevant individuals to refrain from trading in its securities during this period. Further details are available on the company's website.

Vikran Engineering Ltd. announced that the Income Tax Appellate Tribunal (ITAT), "F" Bench, Mumbai, ruled in its favor for Assessment Year 2016-17. The order, dated September 15, 2026, accepted the company's submissions regarding the genuineness of loan transactions and the identity and creditworthiness of lenders under Section 68 of the Income Tax Act, 1961. As a result, the ITAT dropped the entire demand of ₹3,96,75,696/- and an addition of ₹6,79,64,220/-. These amounts were previously added by the Assessing Officer following a search action. The company anticipates no material financial or operational impact, and a contingent liability of ₹3,96,75,696/- will be extinguished.