Vikran Engineering Limited reported its audited financial results for the fourth quarter and fiscal year ended March 31, 2026, during an earnings conference call held on May 26, 2026. The company posted a record revenue of INR1,249 crores for FY26, a significant increase from INR916 crores in the previous year, driven by strong execution across power transmission and distribution (T&D) and solar EPC projects. For Q4FY26, revenue from operations stood at INR647 crores compared to INR355 crores in the corresponding quarter of the previous year. Profit after tax (PAT) for the quarter rose to INR56 crores from INR38 crores, while full-year PAT reached INR92 crores against INR78 crores in FY25.

Financial Performance

The company’s EBITDA for Q4FY26 was INR92 crores, representing a margin of 14.2%. For the full year, EBITDA was approximately INR175 crores with margins maintained around 14%. Management attributed the healthy year-on-year growth to execution momentum in the power T&D business and an increasing contribution from solar EPC projects. The EBITDA margins for the year were slightly impacted by a provision of INR20 crores taken against delayed receivables from Jal Jeevan Mission (JJM) projects, which the company expects to reverse as payments are received.

Strategic Acquisition and Order Book

A major strategic development during the year was the acquisition of NOPL Solar Private Limited, which holds 969 megawatts of PM-KUSUM power purchase agreements (PPAs) with the Maharashtra Government. This project requires an investment of INR4,200 crores and is expected to generate revenue of over INR500 crores over 25 years with strong EBITDA margins of 85% to 88%. Following this acquisition and other project wins, the company's total order book has expanded to INR5,700 crores. Management guided for a revenue of INR2,200 crores to INR2,500 crores in FY27, with approximately 60% expected to come from solar, 30% from power T&D, and the balance from water infrastructure.

Operational Outlook

Vikran Engineering is focusing on scaling its solar EPC vertical while maintaining its foundation in high-voltage transmission substations and underground cabling. The company has also identified data centers as a new growth area, targeting an initial order book of INR100 crores in the EPC segment. To support its expansion, the company’s credit rating was upgraded from BBB+ to IND A- with a stable outlook. Management expects the company to turn cash flow positive from FY28 onwards as the pace of growth stabilizes and the contribution from the NOPL subsidiary increases.

Vikran Engineering Limited has informed the stock exchanges regarding the resignation of one of its Senior Managerial Personnel. Mr. Mukhesh Nandan Jha, who held the position of Senior General Manager-Procurement, has tendered his resignation to pursue better professional growth opportunities outside the organization.

Resignation Details

The resignation was formally communicated via a letter dated May 22, 2026. While the resignation was tendered on this date, Mr. Jha will continue to serve the company until his last working day. The cessation of his employment is scheduled to take effect from the closure of business hours on Saturday, June 20, 2026.

Regulatory Disclosure

The company stated that the disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The necessary details, along with a copy of the resignation letter, have been submitted to the exchanges and are available on the company's official website.