News

Vikran Engineering announced the cancellation of order worth Rs 354.21 crore from Ellume Energy MH Solar One (SPV) due to prolonged delays in achieving the necessary project readiness milestones at the client`s end. The client was unable to provide the required Power Purchase Agreement (PPA), work commencement approvals, design clearances, scope finalization, and mobilization permissions within the expected timelines. Consequently, the commencement of the project remained uncertain, making execution of the work order commercially unviable.The order pertained to turnkey Engineering, Procurement, and Construction (EPC) Contract for the 100 MW AC Solar Power Project in Maharashtra.

Vikran Engineering�has accepted a work order dated 26 June 2026 from NOPL Solar Projects�(NOPL) for Designing, Engineering, Procurement, Supply, Erection, Testing and Commissioning on Turnkey EPC Basis (including Supply of Solar PV Modules and Inverters) for development of a 969 MW AC Solar Power Project at multiple locations in the State of Maharashtra, aggregating to Rs 3,517.98 crore. The Company had earlier accepted a work order from Onix Renewable on 23 December 2025 for execution of the EPC works for the 600 MW project for Rs 2035.26 crore. Against the said earlier arrangement, work to the extent of around Rs 388.67 crore had been tentatively executed and the balance order value of around Rs 1,893.26 crore stands mutually cancelled pursuant to the revised contractual arrangement.Pursuant to the acquisition of 100% equity stake in NOPL by the Company, the project execution structure has been realigned and the EPC works for the project will now be executed directly under the work order awarded by developer (NOPL). Accordingly, the earlier work order issued by Onix Renewable has been mutually cancelled and replaced by the direct Work Order from NOPL for the same project vide letter dated 23 June 2026 from Onix Renewable to NOPL and Company. This change is solely on account of the restructuring of contractual arrangements following the acquisition and does not arise due to any dispute, default or performance-related issue.

Vikran Engineering has allotted 40 Secured, Unlisted, Redeemable, NonConvertible Debentures (NCDs) of the face value of Rs 50 lakh each and aggregating to Rs 20 crore on private placement basis.

Vikran Engineering has allotted 20 Secured, Unlisted, Redeemable, NonConvertible Debentures (NCDs) of the face value of Rs 50,00,000 each and aggregating to Rs 10 crore in dematerialised form and on private placement basis.

Vikran Engineering announced that the Board of Directors of the Company at its meeting held on 22 May 2026, inter alia, have recommended the final dividend of Rs 0.18 per equity Share (i.e. 18%) , subject to the approval of the shareholders.