Vikran Engineering Limited has disclosed a total order book exceeding ₹6,400 Cr as of July 2, 2026, driven by a strategic expansion into the renewable energy sector. The infrastructure EPC major reported a 36% year-on-year increase in revenue from operations to ₹1,249 Cr for the financial year ended March 31, 2026, while profit after tax (PAT) rose to ₹92 Cr. The company is transitioning from a pure-play EPC contractor to an integrated renewable energy platform following the acquisition of NOPL Solar Projects Private Limited.

Order Book and Strategic Acquisition

The company's order book composition shifted significantly in FY26, with solar projects now constituting the largest segment. As of March 31, 2026, the solar vertical accounted for ₹2,825.1 Cr, representing 54.2% of the total order book of ₹5,206 Cr. This marks a substantial increase from the previous year when solar projects were not recorded in the order book. The Power Transmission & Distribution (T&D) vertical held an order book of ₹1,705.8 Cr, while Water Infrastructure stood at ₹634.4 Cr.

The acquisition of NOPL Solar Projects, covering a 969 MW PM-KUSUM solar portfolio, is central to the company's strategy. This project involves a total investment of ₹4,200 Cr and features a 25-year Power Purchase Agreement (PPA) with MSEDCL at a tariff of ₹3.074/kWh. The initiative is supported by ₹1,017 Cr in Central Financial Assistance under the PM-KUSUM scheme.

Financial Performance

Vikran Engineering reported steady financial growth across FY26. Revenue from operations increased from ₹916 Cr in FY25 to ₹1,249 Cr in FY26. EBITDA for the period stood at ₹175 Cr, with margins at 14%, while PAT margins were recorded at 7%.

The balance sheet reflects strong asset growth, with total assets increasing to ₹2,503.5 Cr as of March 31, 2026, up from ₹1,354.7 Cr in the previous year. Total equity also saw a significant rise, reaching ₹1,237.4 Cr compared to ₹467.9 Cr in FY25.

Operational Expansion

The company operates across 22 states with 190 active project sites as of March 31, 2026. Key business verticals include Power Transmission & Distribution, Solar EPC, Water Infrastructure, and Railway Electrification. Recent milestones include securing a 765 kV substation project from PGCIL and a 400 MW solar project from NTPC Renewable Energy in 2025.

Looking ahead, Vikran Engineering plans to scale up operations by leveraging government initiatives in solar and high-speed rail infrastructure. The firm also aims to expand its geographical footprint into the Middle East and African markets while exploring opportunities in data centres and smart metering.

Vikran Engineering has set an ambitious revenue target of ₹7500 crore by FY31, with the company planning to strategically focus on the data center segment as a core growth driver. The announcement highlights the company's long-term growth vision and its intent to align with the rapidly expanding data center infrastructure landscape.

Revenue Target and Strategic Focus

Vikran Engineering has outlined a clear financial milestone, targeting revenues of ₹7500 crore by FY31. The company's strategic roadmap places a significant emphasis on the data center sector, reflecting its intent to tap into the growing demand for data center-related engineering and infrastructure solutions.

Data Center Segment as a Growth Driver

The company's focus on data centers signals a deliberate strategic pivot toward one of the most rapidly growing segments in India's infrastructure space. By prioritizing this sector, Vikran Engineering aims to position itself as a key player in meeting the engineering and infrastructure requirements of data center projects. This focus is expected to be a significant contributor to the company's long-term revenue ambitions.