Vikran Engineering: Order book over Rs.6,200 crore, solar EPC dominates
- November 7, 2026
Vikran Engineering Ltd announced that its current outstanding order book stands at over Rs.6,200 crore with a clear dominance of solar EPC, to the tune of 60 per cent.
In a release discussing its recent performance, Vikran Engineering said that its unexecuted order book, as of October 31, 2026, was around Rs.6,257 crore with solar EPC accounting for 60 per cent, followed by power T&D with 29 per cent. The remaining 11 per cent was distributed over water and railway infrastructure segments.
In terms of ownership, private sector entities had a dominant share of 58 per cent, followed by government entities with 24 per cent, and public sector undertakings with 18 per cent.
Vikran had closed FY26 with an unexecuted order book of Rs.5,206 crore as of March 31, 2026, with solar EPC accounting for 54 per cent and power T&D, around 33 per cent.
Power T&D
In the power T&D segment, Vikran Engineering’s recent achievements include:
- Commissioning of the 132kV Miao-Namsai transmission line in Arunachal Pradesh, covering 40.6 km and 138 tower foundations, reinforcing the company’s execution capabilities in challenging terrains
- Securing a Rs.120.7-crore order from Power Grid Corporation of India Ltd (PGCIL) for a 400kV GIS substation extension package across Magarwada, Vadodara and Rajgarh
- Winning a Rs.153.76-crore order from PGCIL for a 400kV AIS substation extension at Tumkur-II, including STATCOM-related civil works
Also Read: Exclusive tndindia.com interview with Rakesh Markhedkar, CMD, Vikran Engineering (September 2, 2026)
Solar EPC
Vikran Engineering during H1FY27 secured long-term loan financing worth Rs.2,941.19 crore from Indian Renewable Energy Development Agency (IREDA) for the 969-MW AC solar EPC project through wholly-owned subsidiary NOPL Solar Projects.
“The integration of NOPL Solar Projects marks an important milestone in strengthening our renewable energy platform. With the project covering 152 locations across Maharashtra and a planned capacity of 969 MW AC, our immediate focus is on disciplined execution and effective coordination across project locations. The term loan facility agreement with IREDA is an important step in supporting the project. Disbursement will be aligned with execution progress across the eight project clusters,” noted Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering Ltd.
The acquisition of 100 per cent equity in NOPL Solar Projects Pvt Ltd was a strategic decision aimed at Vikran Engineering’s transition from a pure-play EPC contractor to an integrated RE-infrastructure company.
NOPL Solar has been awarded a 969-MW solar power project under the PM-KUSUM scheme. Solar power generated will the supplied to Maharashtra state discom MSEDCL under a 25-year PPA, at a tariff of Rs.3.074 per kWh. The total project cost, estimated at Rs.4,200 crore, will receive Rs.1,107 crore as Central Financial Assistance (CFA).
On full commissioning of the solar project, which is distributed over 152 locations across Maharashtra, Vikran expects an annual revenue stream of around Rs.525 crore.
Featured photograph (source: Vikran Engineering) is for representation only