Vikran Engineering jumps 12% on ₹530 cr MSEDCL power infra project wins

Shares of Vikran Engineering, an Engineering, Procurement, and Construction (EPC) company, climbed nearly 12 per cent to hit a high of ₹61.77 on the National Stock Exchange (NSE) in an overall subdued market. This comes after the company secured two contracts worth ₹530.80 crore from Maharashtra State Electricity Distribution (MSEDCL).

 

On Monday, April 6, the stock opened at ₹58.80, up 6 per cent from the previous session's close of ₹55.4. Around 11:45 AM, the stock was trading at ₹60.75, up 9.6 per cent. In comparison, the benchmark NSE Nifty50 was quoting at 22,619.40 levels, down by 93.70 points or 0.41 per cent.

 

 

Vikran Engineering has received two Letters of Award (LOA) amounting to ₹530.80 crore (excluding GST) from the MSEDCL for the Development of distribution infrastructure and system strengthening works across Nashik Zone and Kolhapur Zone in the state of Maharashtra. 

 

Both LoAs were issued under the Power Distribution Enhancement Program funded by the Asian Development Bank (ADB), awarded through National Competitive Bidding. The Nashik Zone contract is valued at ₹235.63 Crore and the Kolhapur Zone contract at ₹295.17 Crore, both excluding GST.

 

The scope of the work includes development of new 33/11 kV, 22/11 kV, and 33/22 kV substations; construction of 33 kV, 22 kV, and 11 kV lines; augmentation of transformers; renovation of substations; installation of distribution transformers; expansion of low-tension lines; deployment of high-tension and low-tension underground cabling; and GIS (Geographic Information System) mapping with asset tagging. Each contract is scheduled for completion within 21 months from the respective Letter of Award.

 

Rakesh Markhedkar, chairman and managing director, said these orders meaningfully strengthen the company's order book and position it well for sustained growth as it continues to contribute to Maharashtra’s power infrastructure development and support India’s broader energy access ambitions through reliable, timely, and sustainable infrastructure delivery.

Vikran Engineering Q3 results

In the December 2025 quarter (Q3FY26), the company reported a revenue from operations of ₹266.5 crore, marginally up from ₹265.2 crore in the year-ago period. However, its earnings before interest, tax, depreciation, and amortisation (Ebitda) fell 46 per cent Y-o-Y to ₹34.9 crore against ₹65.2 crore in the year-ago period. Profit after tax (PAT) stood at ₹20.9 crore, down from ₹33.7 crore in the corresponding quarter of the previous fiscal.