Vikran Engineering Order Book Jumps 146 percent to INR 4,987 Cr in 9M FY26 on Strong Solar EPC Wins
Vikran Engineering’s consolidated order book rose 146 percent year-on-year to INR 4,987 crore as of December 31, 2025, led by large solar EPC contracts and strengthening revenue visibility over the next two years.
February 14, 2026. By Mrinmoy Dey
This robust increase provides strong revenue visibility and reinforces execution momentum over the next two years, the company stated.
It has reported a revenue from operations of INR 266.5 crore in Q3 FY26 and profit after tax (PAT) of INR 20.9 crore. In 9M FY26, the company’s revenue has grown to INR 601.9 crore and PAT of 35.7 crore.
Commenting on the overall performance of the company, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering, said, “FY26 marks a pivotal year for Vikran Engineering as we significantly strengthened our presence in the Solar EPC segment. The large-format solar orders secured during the year have materially enhanced our revenue visibility, with our consolidated order book now exceeding INR 4,700 crore as on February 13, 2026.”
He further added, “While margins during the period reflect execution ramp-up and project mix dynamics, we expect operating leverage benefits to play out as solar projects move into advanced execution phases. With a strong pipeline across Power T&D, Solar and Water, and a clear focus on disciplined bidding and risk management, we are positioning Vikran Engineering for scalable and sustainable growth. We are also actively evaluating opportunities in select international markets, particularly in Africa and the Middle East, to diversify our growth trajectory.”
During 9M FY26, the company has secured an order from Onix Renewables for the supply of a 600 MW AC solar plant, delivering end-to-end turnkey services valued at INR 2,035.3 crore. It has also won an EPC contract from NTPC Renewable Energy for a 400 MW AC solar project in Uttar Pradesh, worth INR 459.2 crore, covering Balance of System (BoS) works. In addition, the company has received an order from MP Urja Vikas Nigam to implement grid-connected solar PV power plants with a total capacity of 45.75 MW AC, the company stated.
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