Vikran Engineering Credit Rating
India Ratings revised Vikran Engineering's outlook to Negative and assigned IND BBB+ to proposed NCDs. The revision reflects equity infusion needs and high working capital utilisation.
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India Ratings revised Vikran Engineering's outlook to Negative and assigned IND BBB+ to proposed NCDs. The revision reflects equity infusion needs and high working capital utilisation.
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.
Standalone revenue grew 25% in Q2, but EBITDA margin fell to 9.1% from 14.4% and consolidated PAT fell about 70%. Management blames unrecovered price escalation and delayed NOPL funding.
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 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 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.