Investors are likely to closely watch the shares of recently listed Vikran Engineering Limited in Friday's trading session following a significant new order announcement. The company has secured a major engineering, procurement, and construction (EPC) contract valued at ₹459.20 crore from NTPC Renewable Energy Limited, marking a pivotal moment in its growth trajectory.
A Major Step in Solar Energy Expansion
In an official press release issued on Thursday, December 26, Vikran Engineering confirmed it received a Notification of Award (NOA) for a 400 MW AC grid-connected solar power project. The project is located in Chitrakoot-1, Uttar Pradesh. This contract falls under the Balance of System (BoS) package, which is critical for connecting the solar power generation system to the grid.
The company has set an aggressive timeline of 12 months to complete the entire project. The comprehensive scope of work encompasses several key activities, including inland transportation of materials, insurance, installation, testing, and final commissioning. The contract also includes conducting guarantee tests to ensure the plant is fully operational and ready to contribute to the state's power supply.
Strategic Diversification and Leadership Commentary
This substantial order is seen as a key milestone in Vikran Engineering's strategic plan to diversify its business portfolio. While the firm has a strong foundation in power transmission, distribution, water infrastructure, and railway electrification, this win solidifies its position in the competitive solar EPC segment.
Commenting on this development, Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Limited, stated that the order is a strong validation of the company's execution capabilities in the renewable energy space. He emphasized that the project aligns with the company's focus on expanding its presence in utility-scale solar infrastructure and supports India's broader objectives for a clean energy transition.
Second Mega Order in One Week
Notably, this is the second major contract secured by Vikran Engineering within the same week, creating a remarkable surge in its order book. Earlier, on Tuesday, the company announced a massive work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV).
That project involves developing 600 MW AC solar power projects across various locations in Maharashtra. For this contract, Vikran Engineering will be responsible for supplying crucial components like solar PV modules and inverters, with a similar 12-month completion deadline.
The combined value of these two orders stands at an impressive ₹2,494 crore. This total notably exceeds the company's current market capitalisation, which was approximately ₹2,486 crore at the time of the announcement, highlighting the significant scale of these new business inflows.
Share Price Performance and Market Debut
Vikran Engineering entered the public markets in September 2025, listing at its IPO price of ₹97 per share. The stock witnessed positive momentum in the subsequent two months, rallying by a cumulative 10%. However, this upward trend faced resistance in December, with the stock entering a corrective phase.
Despite a recent attempt at a rebound, the stock remained in negative territory for the month of December, trading down by about 10% prior to this order announcement. Market analysts now anticipate that these substantial contract wins could reignite investor interest and potentially reverse the recent downtrend, as they significantly enhance the company's revenue visibility and growth prospects.
Disclaimer: Investors are advised to consult certified financial experts before making any investment decisions related to the stock market.
