Vikran Engineering has paid a penalty of ₹4,01,400 to resolve a Goods and Services Tax (GST) compliance issue involving goods detained in transit without valid documentation.

The State Taxes Officer, Kashmir, Jammu and Kashmir, issued a Show Cause Notice cum Order in Form GST DRC-01 on August 22, 2026. The order was passed under Section 129(3) of the CGST Act, 2017, citing contravention of Section 129(1) for moving goods without a valid E-Way Bill and tax invoice during the August 2026 tax period.

Regulatory Disclosure

The company disclosed the matter pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It noted that the order was received after business hours on Saturday, August 22, 2026, a non-working day. Consequently, the disclosure was made following an internal assessment of materiality as per its policy framework.

Operational Impact

Vikran Engineering stated that it does not foresee any material impact on its financial or operational activities due to this penalty. The company confirmed that the payment was made voluntarily on August 22, 2026, and that proceedings for filing an appeal with the appropriate authorities are currently underway.

Vikran Engineering Limited has fixed August 28, 2026, as the record date for determining shareholder eligibility for its final dividend of ₹0.18 per equity share for FY26. The payout will be made on or after September 14, 2026, subject to approval at the upcoming Annual General Meeting (AGM).

The Board of Directors recommended the dividend during its meeting on May 22, 2026. Shareholders must submit tax deduction or exemption forms by August 26, 2026, to ensure timely processing.

AGM and Voting Details

The company has dispatched notices for its 18th AGM, scheduled for September 11, 2026, via video conference or other audio-visual means (VC/OAVM). Remote e-voting begins on September 7, 2026, at 9:00 am and concludes on September 10, 2026, at 5:00 pm. Notices include a weblink and QR code for access.

Capital Structure and Borrowing Limits

The Board seeks shareholder approval to enhance borrowing capacity under Section 180(1)(a) and Section 180(1)(c) of the Companies Act, 2013. This proposal supersedes limits approved at the Extra-Ordinary General Meeting (EOGM) on April 30, 2025.

The aggregate secured indebtedness shall not exceed ₹3,500 crore. This enhancement supports increased business activities and strategic requirements.

Debt Issuance Authorization

Shareholders are asked to approve the issuance of Senior, Secured/Unsecured, Rated, Listed/Unlisted, Taxable, Redeemable Non-Convertible Debentures (NCDs) or other debt securities up to ₹1,000 crore. Issuance may occur via private placement or public issue in tranches. Proceeds will finance operations, working capital, and general corporate purposes.

To facilitate this, the Articles of Association will be amended to include Clause 137(e), allowing the Debenture Trustee to nominate a director on the Board per SEBI regulations.

Governance Updates

Mr. Nakul Markhedkar, Whole-Time Director, retires by rotation and is eligible for re-appointment. Shareholders must also ratify remuneration for related-party Key Managerial Personnel:

• Mrs. Kanchan Markhedkar (CHRO): Maximum remuneration of ₹3,67,73,205 per annum.
• Mr. Vipul Markhedkar (CBO): Maximum remuneration of ₹2,19,83,280 per annum.

Both appointments require approval under Section 188(1)(f) of the Companies Act, 2013, due to their relationship with the Chairman and Managing Director.

Strategic Expansion

The AGM will consider altering the Object Clause of the Memorandum of Association to explicitly include building and operating substations, transmission lines, renewable energy projects, data centers, and water infrastructure. This amendment aligns the legal framework with current engineering, procurement, and construction (EPC) operations in power transmission and distribution.