| Revenue growth | Standalone H1 +26%; consolidated H1 only +5%. |
|---|---|
| Margins | Standalone EBITDA margin 9.1% vs 14.4%; guides ~15% ±1% on substation EPC. |
| Order book | Analyst-cited ₹6,200 Cr order book; ~30% substation; mgmt didn't dispute. |
| Demand visibility | Pipeline-led; NOPL solar execution depends on lender disbursement timing. |
| Management confidence | Confident-optimistic; repeatedly deflects margin miss to pending price variation. |
Growth
Standalone revenue +25% Q2, +26% H1; H1 EBITDA flat at ₹48 Cr, margin 11.3% vs 14.3%.
Outlook
FY27 standalone revenue targeted above ₹2,300 Cr; Q3 hoped ₹850–900 Cr; FY28 consolidated ₹2,400–2,500 Cr.
Risks
Consolidated Q2 PAT ₹2.75 Cr (1.3% margin) vs ₹9.12 Cr; NOPL funding delays, NCD-driven finance cost, unrecovered escalation pending certification.
Last quarter's promises, checked
Delivered
- Guided ~₹120 Cr Power Grid order → ₹120.69 Cr (= BEAT)
Partly delivered
- Guided IREDA financial close/disbursement this quarter → ₹2,941 Cr loan at 9.15} in place; disbursement delayed (= PARTIAL)
- Guided FY27 execution ₹2,200–2,500 Cr → now 'above ₹2,300 Cr'; H1 standalone +26% (= PARTIAL)
Missed
- Guided 14–17% EBITDA margin → Q2 standalone 9.1%, H1 11.3% (= MISS)
- Guided ~₹100 Cr NOPL revenue in Sept → ~₹7 Cr Q2 standalone (= MISS)
- Guided Q1 EBITDA +24% YoY → H1 standalone EBITDA flat at ₹48 Cr (= MISS)
Earnings Call Transcript filed with BSE, NSE: VIKRAN. Summary written with AI assistance from the document.
Vikran Engineering Ltd: key numbers
- Share price
- ₹53.89
- Market cap
- ₹1,390 Cr
- Revenue (annual)
- ₹1,249 Cr
- Net profit (annual)
- ₹91.70 Cr
- P/E (TTM)
- 16.6×Sector 50.0×
- Promoter holding
- 56.27%+0.00% QoQ
- FII holding
- 0.80%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Vikran Engineering Ltd
All →Vikran Engineering Legal & Regulatory
Vikran Engineering received a SEBI administrative warning for non-disclosure of a dispute under Regulation 30. No monetary penalty was imposed; the company is examining the observations.
Vikran Engineering Investor Presentation: Key Takeaways
H1 FY27 standalone revenue ₹424.1 Cr (+26.5%), PAT ₹25.4 Cr (+71.6%), EBITDA margin 11.4%. Consolidated PAT fell to ₹6.7 Cr on NOPL intra-group elimination; pivot to solar IPP.
Vikran Engineering Results Update
Vikran Engineering reported H1 FY27 revenue up 26.5% to ₹424.1 Cr and PAT of ₹25.4 Cr. Q2 EBITDA fell 20.8% year-on-year as margins narrowed.
Vikran Engineering Q2 FY27 Results: Net Profit ₹2.8 Cr, Down 69.2% YoY
Vikran Engineering Ltd reported revenue from operations of ₹211.8 Cr (+20.1% YoY) and net profit of ₹2.8 Cr (-69.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹2.8 Cr · -69.2% YoY
Vikran Engineering Debt & Borrowing: ₹10 Cr
Vikran Engineering allotted Tranche 2 of secured, unlisted NCDs aggregating ₹10 Crore at 11.40% coupon, maturing November 2027. The debt issuance is effective on 3 November 2026 and is not proposed to be listed.
- Value
- ₹10.00 Cr
- Execution
- Allotment 03 Nov 2026, maturity 18 Nov 2027
Vikran Engineering Board Meeting Date
Vikran Engineering will hold a board meeting on 05-Nov-2026 to consider unaudited standalone and consolidated results for the quarter and half-year ended September 2026. The trading window remains closed until 48 hours after the results are submitted.