Vikran Engineering Approves Key Management Changes and ₹175 Crore Solar Power Investment

Vikran Engineering Limited, a prominent player in the engineering sector, has announced significant management changes and a major investment plan following a board meeting held on September 22, 2025. The company's board approved unaudited financial results for the quarter ended June 30, 2025, and made key decisions that could shape its future trajectory.

Management Restructuring

The board has approved several important changes to its key management personnel:

1. Mr. Vipul Markhedkar, currently serving as Head of Business Operations, has been designated as a Key Management Personnel. Mr. Markhedkar, who holds an MBA from NMIMS with a major in Finance and minor in Operations, is expected to play a crucial role in driving the company's business growth initiatives and operational strategy.

2. Mrs. Kanchan Rakesh Markhedkar has been appointed as the Chief Human Resource Officer (CHRO) and designated as a Key Management Personnel. In her role, Mrs. Markhedkar will lead the Human Resources and Administration functions across the company's head office and project sites.

3. Mr. Vinod Mohandass, General Manager (Business Development & Execution), has resigned from his position due to personal reasons. He will continue to discharge his duties until September 30, 2025.

It's worth noting that both new appointees have familial ties to the company's leadership. Mr. Vipul Markhedkar is the son of Mr. Rakesh Ashok Markhedkar, the Chairman and Managing Director, and the brother of Mr. Nakul Markhedkar, Whole-Time Director. Mrs. Kanchan Rakesh Markhedkar is the wife of the Chairman and Managing Director and the mother of the Whole-Time Director.

Solar Power Investment Initiative

In a strategic move, Vikran Engineering's board has approved exploring an investment of up to ₹175.00 Crore in a Special Purpose Vehicle (SPV) engaged in a Solar Power Project. This investment is aimed at securing Engineering, Procurement, and Construction (EPC) contracts for solar projects, potentially opening up new revenue streams for the company.

The board stated that the investment would be funded through either external funding or internal accruals, demonstrating the company's commitment to expanding its footprint in the renewable energy sector.

Financial Results and Meeting Details

The board meeting, which commenced at 4:20 PM and concluded at 4:45 PM, also saw the approval of unaudited financial results for the quarter ended June 30, 2025. While specific financial figures were not disclosed in the available information, the approval of these results suggests the company's continued focus on transparency and regulatory compliance.

As Vikran Engineering Limited embarks on these significant changes and investment plans, stakeholders will be keenly watching how these decisions impact the company's performance and market position in the coming months.