Vikran Engineering shares experienced a remarkable 15% surge on Wednesday, hitting an intraday high of ₹99.80 on the BSE, as investors responded positively to a major order announcement. The newly listed company secured a substantial contract that has captured significant market attention due to its size relative to the company's market capitalisation.

Major Solar EPC Contract Details

The company announced it has received a significant work order worth ₹2,035.26 crore from Onix Renewables Limited for the development of a 600 MW AC solar power project. This contract represents a major milestone for Vikran Engineering, with the order value nearly matching its current market capitalisation of ₹2,563.64 crore.

Scope of Work and Project Components

The contract encompasses comprehensive turnkey EPC (Engineering, Procurement, and Construction) works for the solar power project. The scope includes several critical components that demonstrate the project's complexity and scale:

• Design and engineering services
• Procurement and supply of equipment
• Erection and installation works
• Testing and commissioning of solar plants
• Supply of solar PV modules and inverters

The project will be executed across multiple locations in Maharashtra, requiring coordinated efforts and substantial logistical planning to meet the 12-month execution timeline specified in the contract.

Management Commentary and Strategic Impact

Commenting on the order win, Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering, highlighted the significance of this achievement: "This order marks an important milestone for Vikran Engineering and reflects the strong momentum we are witnessing in our renewable energy EPC business. It is a clear vote of confidence in our engineering depth, project management capabilities, and ability to deliver large-scale solar projects with speed and quality."

The management emphasized that this win meaningfully strengthens the company's order book and positions it well for sustained growth, supporting India's clean energy ambitions through reliable and sustainable infrastructure development.

Market Performance and Stock Movement

Shares of Vikran Engineering traded 15% higher on Wednesday, reaching an intraday high of ₹99.80, reflecting strong investor confidence in the company's ability to execute this large-scale project. The stock performance demonstrates market optimism about the company's growth prospects in the renewable energy sector.

Corporate Profile and Strategic Positioning

Vikran Engineering is a diversified EPC company with established capabilities across multiple infrastructure segments. The company has built strong expertise in power transmission and distribution, water infrastructure, and railway electrification, along with growing strengths in solar EPC and smart metering solutions.

This major order win significantly boosts the company's renewable energy portfolio and aligns with its broader strategic presence across critical infrastructure sectors. The company has reaffirmed its strategy of scaling participation in complex infrastructure projects while maintaining high execution standards, positioning itself as a key player in India's expanding solar energy sector.

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.