Vikran Engineering Limited has announced the execution of a Share Purchase Agreement to acquire a 49% equity stake in NOPL Solar Projects Private Limited for ₹4.9 crore on April 28, 2026, marking a significant strategic expansion into India's renewable energy sector.

Regulatory Compliance and Transaction Details

The acquisition was announced pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction involves purchasing a substantial minority stake in NOPL Solar Projects, which is engaged in the development, operation, and maintenance of solar power projects.

PM-KUSUM Scheme Integration

NOPL Solar Projects Private Limited is associated with a 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in Maharashtra. This association positions Vikran Engineering to participate in one of India's flagship solar energy initiatives, enhancing the strategic value of the acquisition.

Management Commentary

Commenting on the development, Mr. Rakesh Markhedkar, CMD of Vikran Engineering Limited, stated that the acquisition reflects the company's intent to deepen its presence in sectors defining India's next phase of infrastructure growth. He emphasized that renewable energy continues to emerge as one of the most compelling long-term opportunities within India's infrastructure landscape.

Strategic Business Expansion

This investment aligns with Vikran Engineering's long-term vision of diversifying beyond its core engineering operations into high-growth, future-focused sectors. The acquisition builds on the company's growing momentum in the renewable energy segment, following successful execution of solar power projects during the current financial year. Through this partnership, the company aims to enhance its participation across the renewable energy value chain and strengthen its capabilities in delivering next-generation infrastructure solutions.

Vikran Engineering Limited has formally notified stock exchanges about the appointment of RSM Astute Consulting Private Limited as its Internal Auditor for a comprehensive three-year term. The appointment was approved by the Board of Directors on 16th April 2026, with the formal intimation sent to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Internal Auditor Appointment Details

The company has provided comprehensive details of the appointment in its regulatory filing to stock exchanges.

About RSM Astute Consulting

RSM Astute Consulting Private Limited, operating as RSM India, brings significant expertise to the role. The firm has been a member of RSM International since 1996 and ranks among India's top 6-7 audit, tax, and consulting firms. With a strong pan-India presence across 14 cities and over 3,000 professionals, RSM India operates a robust Internal Audit & Risk Advisory Services practice featuring over 1,050 professionals with expertise in IT assurance, forensics, ESG, and analytics.

Nodal Officer Appointments

The board had previously designated two key officers to handle Investor Education and Protection Fund Authority coordination and claims verification processes.

Both officers are based at the company's address: B-2 & B-3, B Wing, 3rd Floor, Ashar IT Park, Road No. 16-Z, Wagle Industrial Estate, Thane, Maharashtra, India - 400604.

Regulatory Compliance

The formal intimation was signed by Ms. Kajal Rakholiya, Company Secretary and Compliance Officer, and submitted to both BSE Limited (Scrip Code: 544496) and National Stock Exchange of India Limited (Scrip Symbol: VIKRAN). The appointment aligns with the company's commitment to maintaining robust internal audit mechanisms and regulatory compliance standards.