Vikran Engineering shares gained 3.98% during trading following the company's announcement of securing a ₹459.20 crore order from NTPC Renewable Energy Limited. The stock reached ₹100.23, representing gains from the previous day's trading levels as investors responded positively to the latest contract win.

Stock Performance and Market Response

The rally in Vikran Engineering shares reflects strong investor confidence following the contract announcement. The company's shares demonstrated solid momentum in the renewable energy sector, with trading activity showing sustained interest from market participants.

NTPC Renewable Energy Contract Details

The company secured the engineering, procurement and construction (EPC) contract for a 400 MW AC grid-connected solar project located at Chitrakoot-1 in Uttar Pradesh. The comprehensive scope covers the Balance of System (BoS) package, including inland transportation, insurance, installation, testing, commissioning, and guarantee tests to ensure full operational readiness.

Rakesh Markhedkar, Chairman and Managing Director, described the order as an endorsement of the company's EPC capabilities and execution track record in renewable energy. He said the project aligns with the firm's strategy to expand its presence in utility-scale solar infrastructure and supports India's decarbonization objectives.

Company Operations and Market Position

Vikran Engineering operates as a diversified EPC player with established capabilities across power transmission and distribution, water infrastructure, railway electrification, solar EPC, and smart metering solutions. The company has completed 45 projects across 14 states, working with prominent clients including NTPC, Power Grid Corporation of India, and various state utilities.

The Chitrakoot-1 project represents a significant addition to Vikran Engineering's solar portfolio and is expected to contribute meaningfully to India's renewable energy capacity addition. This contract win reinforces the company's position as a key player in India's expanding solar energy sector, with the order book providing strong revenue visibility for the coming periods.

Vikran Engineering Limited has received a credit rating upgrade from Infomerics Valuation and Rating Limited. The upgrade covers multiple banking facilities totaling ₹460.40 crores, reflecting the company's improved operational performance and strengthened financial position.

Credit Rating Upgrade Details

Infomerics Valuation and Rating Limited has upgraded Vikran Engineering's credit ratings from IVR BBB+/Stable to IVR A-/Stable. The comprehensive upgrade demonstrates enhanced creditworthiness and operational improvements.

Rating Rationale and Key Factors

The rating upgrade is attributed to several positive developments in the company's operational and financial metrics. Infomerics highlighted improved scale of operations as a primary driver, alongside substantial increases in the company's order book position.

The rating agency continues to derive comfort from multiple structural strengths:

• Experienced promoters with established expertise in the same line of business
• Comfortable capital structure supporting operational requirements
• Strong financial risk profile with improved metrics
• Geographical and sector diversification reducing concentration risks
• Stable demand outlook for the industry segment

Regulatory Compliance and Documentation

The credit rating upgrade was communicated to stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed rating rationale has been published on Infomerics Valuation and Rating Limited's official website for stakeholder reference.

This upgrade represents a significant milestone in Vikran Engineering's credit profile, potentially improving access to financing and reducing borrowing costs across its banking relationships.