Vikran Engineering order book rises to Rs 5,737 crore in FY26

Vikran Engineering Limited reported audited financial results for the quarter and financial year ended March 31, 2026, with its consolidated order book crossing Rs 5,000 crore at the end of FY26. The company said the order pipeline was supported by large solar engineering, procurement and construction (EPC) wins and continued growth across infrastructure segments.

As of May 22, 2026, the consolidated order book stood at Rs 5,737 crore. Solar projects accounted for 49% of the order book, followed by power transmission and distribution (T&D) at 39%, water infrastructure at 11%, and railway infrastructure at 1%.

The company reported consolidated revenue from operations of Rs 647.4 crore in Q4 FY26, compared to Rs 355.4 crore in Q4 FY25, reflecting an increase of 82.2%. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, rose 35.9% year-on-year to Rs 92.2 crore from Rs 67.9 crore. EBITDA margin for the quarter stood at 14.2%, compared to 19.1% in the corresponding quarter last year.

Profit after tax (PAT) for Q4 FY26 increased 48.3% to Rs 56 crore from Rs 37.8 crore in Q4 FY25. PAT margin stood at 8.6%, compared to 10.6% in the year-ago period.

For FY26, revenue from operations rose 36.4% to Rs 1,249.3 crore from Rs 915.8 crore in FY25. EBITDA increased 9.3% year-on-year to Rs 175.1 crore from Rs 160.2 crore, while EBITDA margin declined to 14% from 17.5%.

FY26 PAT stood at Rs 91.7 crore, compared to Rs 77.8 crore in FY25, marking a growth of 17.8%. PAT margin for the year declined to 7.3% from 8.5%.

During the year, Vikran Engineering completed the acquisition of a 100% stake in NOPL Solar Projects Private Limited to strengthen its renewable energy portfolio and expand its participation across the solar value chain.

The company also commissioned its second 5 MW solar power plant in Ambi Jalgaon, Maharashtra, under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme.

In addition, Vikran Engineering received two letters of award worth Rs 531 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for power distribution enhancement projects in the Nashik and Kolhapur zones of Maharashtra.

Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Limited, said FY26 marked a significant year for the company as it strengthened its presence across high-growth infrastructure segments, particularly solar EPC. He said the expansion of the order book reflects customer confidence in the company’s execution capabilities and participation in India’s energy transition.

He added that the company expanded its renewable energy footprint through strategic investments aligned with its EPC operations. For FY27, the company plans to focus on execution, margin improvement, operational efficiencies, and expansion across power T&D, solar, and data centre segments. He also said the company is assessing opportunities in selected international markets to diversify growth.