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.

Vikran Engineering Limited has executed a Share Purchase Agreement (SPA) to acquire a 51% equity stake in NOPL Solar Projects Private Limited, making it a wholly-owned subsidiary. The company purchased 5,100 equity shares at a price of ₹10,000 per share. The aggregate consideration for this transaction amounted to ₹5.10 crore, which was discharged entirely in cash. The acquisition was completed on May 20, 2026.

Prior to this transaction, Vikran Engineering held a 49% stake in the target entity. With the purchase of the remaining shares, the company now holds 100% of the paid-up equity share capital of NOPL Solar Projects Private Limited. The acquisition falls within the ambit of a related party transaction, as one director and one key managerial personnel of the acquirer are also directors in the target entity. The transaction was conducted at an arm's length basis.

The strategic move aligns with Vikran Engineering's objective to diversify its business and expand its footprint in the renewable energy sector. NOPL Solar is engaged in the development, operation, and maintenance of solar power projects. Specifically, the entity is undertaking a 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in Maharashtra. The company has already undertaken the execution of solar power projects in the fiscal year 2025-2026.

Transaction Details

The target entity was incorporated on May 20, 2024, with a paid-up capital of INR 1,00,000. No specific governmental or regulatory approvals were required for the completion of this acquisition.