Vikran Eng shares rally 9% on Q2 results, ₹1,642-crore order win

Vikran Engineering shares saw their best intraday rally since listing after it reported its quarterly earnings and its ₹1,641.91-crore contract win

Shares of Vikran Engineering Ltd saw their best intraday rally since listing, rising over 9 per cent on Tuesday after it reported its quarterly earnings and its ₹1,641.91-crore contract win. 

 

The civil construction firm's stock rose as much as 9.4 per cent during the day to ₹108.6 per share, the steepest rise since its listing in September this year. The stock pared gains to trade 5.16 per cent higher at ₹104.3 apiece, compared to a 0.15 per cent decline in Nifty 50 as of 12:15 PM. 

 

Shares of the company rose for the third straight session and currently trade at 10 times the average 30-day trading volume, according to Bloomberg. The counter has risen 5.5 per cent since its listing. Vikran Engineering has a total market capitalisation of ₹2,691.30 crore. 

 

Vikran Engineering Q2 results 

The company reported a 339.42 per cent rise in net profit to ₹9.14 crore for the quarter ended September 2025, compared with ₹2.08 crore in the corresponding quarter of the previous year. Revenue from operations increased 10.71 per cent to ₹176.29 crore from ₹159.24 crore in the same period last year.

Vikran Engineering secures ₹1,641.91 crore EPC contract 

The company received an Engineering, Procurement and Commissioning (EPC) contract from Carbonminus Maharashtra One Private Ltd. for the development of 505 Megawatt (Mw) (AC) grid-interactive, ground-mounted solar photovoltaic (PV) power plants based on crystalline PV technology under the MSEDCL LIS scheme across various districts in Maharashtra.

 

The contract, awarded by a domestic entity, includes the design, engineering, supply, erection, testing, and commissioning of the solar projects, the company said in a statement. The project is valued at ₹1,641.91 crore, plus applicable Goods and Services Tax (GST), and is scheduled to be completed within 11 months.

Vikran Engineering listing and IPO details 

Vikran Engineering shares were listed on the bourses in September this year. The IPO comprised a fresh issue of 74.3 million equity shares, raising ₹721 crore, along with an offer for sale (OFS) of 5.3 million shares amounting to ₹51 crore. 

 

The issue was offered in a price band of ₹92 to ₹97 per share and was open for subscription from August 26 to August 29, 2025. The IPO was met with strong investor demand, ending up oversubscribed by 23.59 times. The basis of allotment was finalised on September 1, 2025, and the company set the final issue price at ₹97 per share.