Recently listed stock Vikran Engineering is expected to attract investors’ attention during Friday’s session, December 26, after the company secured a significant order win.
The company, in a press release issued today, said it has received a Notification of Award (NOA) from NTPC Renewable Energy Limited for a ₹459.20 crore EPC contract for a 400 MW AC grid-connected solar power project at Chitrakoot-1 in Uttar Pradesh.
As per the company, the contract involves execution of the Balance of System (BoS) package for the solar project and is to be completed within a 12-month period. The scope of work includes inland transportation, insurance, installation, testing, commissioning, and guarantee tests, ensuring full operational readiness of the project.
The order represents a significant milestone in Vikran Engineering’s diversification strategy and further strengthens its credentials in the solar EPC segment, alongside its established presence in power transmission and distribution, water infrastructure, and railway electrification.
Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering Limited, said, "Securing this order from NTPC Renewable Energy Limited is a strong endorsement of Vikran Engineering’s EPC capabilities and execution track record in the renewable energy sector. This project aligns with our strategic focus on expanding our footprint in utility-scale solar infrastructure while contributing meaningfully to India’s clean energy transition.”
Second order win this week
This was the second major order win for the company this week. On Tuesday, the company received a major work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in Maharashtra.
Under the contract, the company will supply key components such as solar PV modules and inverters, with the project expected to be completed within a 12-month timeline. With both orders combined at ₹2,494 crore, the total order value exceeds the company’s market capitalisation of ₹2,486 crore.
Vikran Engineering share price trend
Vikran Engineering share price made its stock market debut in September 2025, listing at the IPO price of ₹97 apiece, but the momentum improved in the following months, with the stock rallying a cumulative 10% in the following two months.
However, the rally proved short-lived as the stock slipped into the selling zone in December. Although it a staged rebound recently, the gains were insufficient to turn the month positive, with the stock still down 10% for December.
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