Vikran Engineering shares surged 9.50% to touch ₹110.35 on Monday following the company's announcement of securing Letters of Award (LOAs) for solar power projects with 45.75 MW AC capacity in Madhya Pradesh. The company has achieved a significant milestone with its order book reaching ₹5,000.00 crore and expects to begin FY26 with an order book ranging from ₹5,500.00 to ₹5,700.00 crore.

Solar Project Win Details

The projects have been granted under the PM KUSUM-C scheme by M.P. Urja Vikas Nigam Limited and will be implemented in Vidisha district for supplying power to Madhya Pradesh Power Management Company Limited (MPPMCL). These solar power plants will be developed under the Surya Mitra Krishi Feeders Scheme, a feeder solarisation initiative supported by the Ministry of New and Renewable Energy.

Stock Performance

The stock has demonstrated strong momentum with impressive gains across multiple timeframes. Over the past week, Vikran Engineering shares have rallied 17.93%, while the two-week performance shows a gain of 14.61%, reflecting sustained buying interest and robust short-term uptrend.

Order Book Growth Trajectory

The company's current order book has reached ₹5,000.00 crore, driven by increased requests for solar transmission and distribution projects. According to projections, Vikran Engineering expects to begin FY26 with an order book ranging from ₹5,500.00 to ₹5,700.00 crore, representing potential growth of 10.00% to 14.00%.

Strategic Market Position

Vikran Engineering will serve as the Renewable Power Generator (RPG) for these grid-connected solar PV-based plants. The company noted that the LOAs were issued by a domestic government entity and the contracts are not classified as related party transactions. This award further enhances the company's presence in decentralised and utility-scale solar projects, particularly those linked to national renewable energy programmes such as agricultural feeder solarisation, positioning it favorably in India's expanding clean energy infrastructure development space.

Vikran Engineering has secured significant solar power project contracts in Madhya Pradesh while indicating strong prospects for additional business opportunities. The company announced it has accepted letters of award from MP Urja Vikas Nigam Ltd for developing grid-connected solar photovoltaic power projects with a combined capacity of 45.75 MW (AC), and sees the possibility of securing extra ₹2000 crore in orders.

Current Project Portfolio

The awarded projects fall under the Surya Mitra Krishi Feeders Scheme, which forms part of the broader PM-KUSUM programme aimed at promoting solar energy adoption in agricultural sectors. The solar photovoltaic power plants will be developed in Vidisha district of Madhya Pradesh, where Vikran Engineering will function as the renewable power generator.

Commercial Framework

The power generated from these solar installations will be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL) under long-term agreements. The contracts span 25 years and feature tariffs ranging from ₹2.75 to ₹2.80 per unit. Beyond the current projects, the company has indicated potential additional orders worth ₹2000 crore.

Strategic Market Position

These developments represent Vikran Engineering's expanding presence in India's renewable energy landscape. The projects are components of efforts to promote feeder-level solarisation for agricultural power supply in Madhya Pradesh. The initiative aligns with broader state and national objectives to reduce dependence on conventional energy sources while supporting the agricultural sector through renewable power generation.