Power stock gains 7% after receiving order from NTPC Renewables for solar PV project

Synopsis: The shares of the company surged today after it reported order receipt from NTPC Renewable Energy Limited, worth Rs. 459.20 Crores (excluding GST) to be executed in Uttar Pradesh

The shares of the company that provides comprehensive end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis across multiple infrastructure sectors are in focus, followed by a strong work order from a renewable PSU firm.

With a market capitalization of Rs. 2,588 crore, Vikran Engineering Ltd’s shares on Friday made a day high of Rs. 103.65 per share, up around 6.8 percent from its previous day’s close price of Rs. 96.5 per share. The share has given a return of 6 percent since its listing in September 2025.

Significant Order

Vikran Engineering Limited received a domestic order from NTPC Renewable Energy Limited for an EPC contract on the Balance of System (BOS) package of a 400 MW AC grid-connected solar PV project at Chitrakoot-1 in Uttar Pradesh. The contract covers inland transportation, insurance, installation, testing, commissioning, and guarantee tests.

The total value of the order stands at INR 459.20 Crores (excluding GST), with execution required within 12 months from the award date. This significant win underscores Vikrant’s capabilities in large-scale solar infrastructure projects.

This order further strengthens Vikrant’s robust order book, which stood at around Rs 4,000 crore as of November 10, 2025. The order mix is well diversified, with 32 percent from Power Transmission & Distribution, 18 percent from Water and Railway infrastructure, and the remaining 50 percent coming from the Solar segment. The client mix is largely private sector–driven at 61 percent, followed by government clients at 26 percent and PSUs accounting for the remaining 13 percent.

About the company

Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) company. Its extensive portfolio covers a spectrum of essential services, ranging from infrastructure projects to Power Transmission and EHV substations reaching up to 765kV. 

Vikran specialises in ensuring Power Distribution, handling every aspect from the 33/11kV Substation to the end consumer’s meter connection. With a comprehensive suite of offerings encompassing Design, Supply, Civil Works, Construction, and Testing and Commissioning.

Financial highlights, revenue grew by 11 percent to Rs. 176 crore, corresponding to the same quarter in the last financial year. Net profit of the company grew by 339 percent YoY to Rs. 9.14 crore in Q2 FY26, and EPS growth of 218 percent YoY to Rs. 0.35 per share in Q2 FY26.

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