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.
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.
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.
Vikran Engineering allotted ₹25 Crore of secured NCDs from its ₹50 Crore issue. The 11.40% debentures mature November 14, 2027.
Vikran Engineering Ltd has filed its quarterly shareholding pattern as mandated by SEBI Regulations. This filing discloses the stake distribution across promoter and public categories.
Vikran Engineering's subsidiary NOPL secured a ₹2,941.19 Crore loan from IREDA to finance a solar project. Financing for the associated internal EPC contract is now finalized.
Vikran Engineering approved a Rs. 2941.19 Crore corporate guarantee for its subsidiary. Additionally, the company will infuse Rs. 200 Crore into the subsidiary for project financing requirements.
Vikran Engineering received a GST show cause notice involving a tax demand, interest, and penalty totaling Rs. 7.79 Crore for FY 2022-23.
Vikran Engineering received a show cause notice from the State Tax Department for alleged GST utilization issues, with total demand, interest, and penalty of ₹6.09 Crore.
Vikran Engineering Limited received a GST show cause notice with a total demand of Rs. 1.55 Crore. The notice includes tax, interest, and penalties for alleged excess ITC claims.
Vikran Engineering secured a ₹153.76 Crore order from POWERGRID for the 400 kV AIS Extension Substation Package SS-136T. The project execution period is 21 months.
Vikran Engineering received a GST show cause notice with a total demand of ₹5.88 Crore including penalty. The company does not anticipate any material financial impact.
Vikran Engineering Limited won an Income Tax Appellate Tribunal appeal for AY 2016-17, resulting in the extinction of a ₹3.97 Crore contingent tax liability.
Vikran Engineering Ltd shareholders approved alterations to the Objects Clause of the Memorandum of Association and the Articles of Association at the 18th Annual General Meeting.
Vikran Engineering received a GST show cause notice for Rs. 1.88 Crore (tax and penalty). The company anticipates no material financial or operational impact.