Vikran Engineering skyrockets 15% on deal win, ratings upgrade; details

Vikran Engineering share price today: Vikran Engineering shares were buzzing in trade on Wednesday, December 24, 2025, with the scrip rising up to 15.04 per cent to hit an intraday high of ₹99.80 per share.

 

Around 1:00 PM, Vikran Engineering share price was trading 11.01 per cent higher at ₹96.30 per share. By comparison, BSE Sensex was trading flat with a positive bias at 85,555.48 levels.

 

What drove Vikran Engineering shares 15% higher today?

 

Vikran Engineering share price rose on the back of a ₹2,035-crore deal win, along with ratings upgrade from Infomerics Valuation and Rating.

 

Vikran Engineering secured a major work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV). 

 

 

The order covers the development of 600 MW AC solar power projects across multiple locations in Maharashtra.

 

Accepted on December 23, 2025, the project will be executed on a turnkey EPC basis, encompassing end-to-end activities such as design, engineering, procurement, supply, erection, testing, and commissioning. The scope also includes the supply of key components, including solar PV modules and inverters. 

 

The company aims to complete the project within a 12-month timeframe.

 

Infomerics upgrades ratings

 

Vikran Engineering also informed exchanges that Infomerics Valuation and Rating Limited has upgraded the company’s credit ratings, as per its rating letter dated December 22, 2025. 

 

The rating on long-term bank facilities of ₹140.40 crore has been upgraded to IVR A- with Stable outlook from IVR BBB+ with Stable outlook. 

 

Further, the rating on long-term/short-term bank facilities of ₹280 crore has been revised to IVR A- with Stable outlook for the long-term portion and IVR A2+ for the short-term portion, from IVR BBB+/Stable and IVR A2, respectively. 

 

The rating on short-term bank facilities of ₹40 crore has also been upgraded to IVR A2+ from IVR A2.

 

Vikran Engineering Q2 show

 

Vikran Engineering reported a robust performance for the quarter ended September 30, 2025, driven by strong execution across its Power Transmission and Distribution (T&D) business. Revenue from operations rose 10.7 per cent year-on-year to ₹176.3 crore, compared to ₹159.2 crore in Q2 FY25. Ebitda nearly doubled (up 98.9 per cent Y-o-Y) to ₹25.4 crore from ₹12.8 crore in the same period last year, with margins improving sharply to 14.4 per cent from 8 per cent, reflecting enhanced operational efficiency and cost control. 

 

The company’s net profit surged more than fourfold to ₹9.1 crore, against ₹2.1 crore in Q2 FY25, signaling major improvement in profitability.

 

Vikran Engineering IPO listing

 

Vikran Engineering shares made a steady debut on the stock exchanges on September 3, 2025. The stock listed at ₹99.70 on the BSE, marking a 2.78 per cent premium over its issue price of ₹97. On the NSE, the shares opened at ₹99, up 2.06 per cent from the issue price, reflecting a modest but positive market debut for the company.

 

“Following our successful IPO, our consolidated order book now exceeds ₹4,000 crore, providing healthy execution visibility for the next two years and reinforcing our position as a growing multi-sector EPC player. The second half of the year contributes a larger share of EPC execution, and we expect this trend to continue in FY26 as well,” Markhedkar said. 

 

About Vikran Engineering 

 

Vikran Engineering Limited is a diversified EPC company with expertise in Power Transmission & Distribution, Water Infrastructure, and Railway Electrification, along with growing capabilities in Solar EPC and Smart Metering. 

 

The company offers end-to-end turnkey solutions from design to commissioning and has executed over 45 projects across 14 states for clients such as NTPC, Power Grid Corporation, and various state utilities.