Vikran Engineering Limited (VEL), one of India's emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, has commissioned its second 5 MW solar power plant in Ambijalgaon, Ahilyanagar district, Maharashtra, under the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme. The newly operational plant marks another milestone in the company's expanding renewable energy portfolio and reflects continued progress under the 600 MW solar contract secured in December 2025. The development was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Second 5 MW Solar Plant Commissioned

The Ambijalgaon solar plant has been developed to provide reliable daytime electricity for agricultural irrigation, addressing longstanding challenges faced by farmers in the region due to unstable grid supply and dependence on costly diesel-powered irrigation. The following table summarises the key parameters and expected annual impact of the newly commissioned facility:

Beyond clean power generation, the plant is expected to provide reliable daytime power supply for irrigation pumps through the dry season and enable productive utilisation of underutilised land, creating long-term revenue opportunities for local landowners.

Management Commentary

Commenting on the development, Mr. Rakesh Markhedkar, CMD, Vikran Engineering Limited, said: "The commissioning of our second solar power plant under this project marks another important milestone in Vikran Engineering's renewable energy journey and reflects our commitment to building infrastructure that delivers measurable impact on the ground. Beyond clean power generation, projects like these directly support farmer livelihoods, improve rural energy reliability, and contribute meaningfully to India's sustainability goals. We remain focused on executing our solar pipeline with speed and precision as we continue to scale our renewable energy footprint across the country."

Expanding Renewable Energy Footprint

With this commissioning, Vikran Engineering has now operationalised 2 solar power plants under its broader solar development pipeline, while an additional 145 MW remains under active construction, with the overall execution pipeline progressing as scheduled. The company's ability to maintain project momentum despite the operational complexities of executing in monsoon-prone geographies—while coordinating across government agencies, land partners, contractors, and supply chains—demonstrates its growing execution capabilities in large-scale renewable infrastructure deployment.

The development further highlights Vikran Engineering's strategic diversification beyond its traditional transmission and distribution business into high-growth renewable energy infrastructure. The company is a diversified EPC player with expertise across Power Transmission & Distribution, Water Infrastructure, and Railway Electrification, supported by emerging capabilities in Solar EPC and Smart Metering. Over the years, Vikran has successfully completed 45 projects across 14 states with marquee clients including NTPC and Power Grid Corporation of India, backed by a supply chain of 3,500+ vendors.

Vikran Engineering Limited has incorporated a wholly owned subsidiary, Vikran Renewable Private Limited (VRPL), on 4th May 2026, marking its formal entry into the renewable energy sector. The development was disclosed to stock exchanges on 5th May 2026 in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new subsidiary is incorporated in India and is yet to commence business operations.

Subsidiary Details and Capital Structure

VRPL has been set up as a Private Limited Company and is a Wholly-Owned Subsidiary of Vikran Engineering Limited. The key financial and structural details of the newly incorporated entity are presented below:

The parent company has subscribed to 100% of the total paid-up equity share capital of VRPL in cash, acquiring 10,000 equity shares of Rs. 10 each, amounting to Rs. 1,00,000.

Business Objectives and Industry Focus

VRPL has been incorporated to undertake the development, implementation, and operation of integrated renewable energy projects. Its business scope encompasses the following activities:

• Solar power generation and other renewable energy sources
• Power generation, storage, and sale
• Related EPC (Engineering, Procurement, and Construction) activities
• Infrastructure development and allied activities
• Acting as a holding company to promote, incorporate, acquire, invest in, and hold interests in subsidiaries, joint ventures, or associate companies engaged in renewable energy or related businesses

Vikran Engineering Limited may undertake these activities directly through VRPL or through structured project arrangements, in line with its business strategy.

Related Party and Regulatory Disclosures

The incorporation of VRPL falls within the ambit of a related party transaction, as the Promoter, Mr. Nakul Markhedkar, and Promoter Group member Mr. Vipul Rakesh Markhedkar are also Directors in VRPL. The transaction has been executed at arm's length. No governmental or regulatory approvals are required for the acquisition, and no indicative time period for completion is applicable, given the nature of the transaction as a fresh incorporation.

The disclosure was made pursuant to SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th September 2026. The intimation was signed by Kajal Rakholiya, Company Secretary and Compliance Officer, from Thane.