Vikran Engineering Ltd receives order from NOPL Solar Projects Pvt Ltd

Vikran Engineering Limited ("the Company") has accepted a Work Order dated 26th June 2026 from NOPL Solar Projects Private Limited ("NOPL") for Designing, Engineering, Procurement, Supply, Erection, Testing and Commissioning on Turnkey EPC Basis (including Supply of Solar PV Modules and Inverters) for development of a 969 MW AC Solar Power Project at multiple locations in the State of Maharashtra, aggregating to INR 3517.98 Crores (Rupees Three Thousand Five Hundred Seventeen point Ninety Eight Crores Only), inclusive of GST.

The Company had earlier accepted a Work Order from Onix Renewable Limited on 23rd December 2025 for execution of the EPC works for the 600 MW project for Rs. INR 2035.26 Crores. Against the said earlier arrangement, work to the extent of around Rs. 388.67 Crores had been tentatively executed and the balance order value of around Rs. 1,893.26 Crores stands mutually cancelled pursuant to the revised contractual arrangement.

Pursuant to the acquisition of 100% equity stake in NOPL by the Company, the project execution structure has been realigned and the EPC works for the project will now be executed directly under the Work Order awarded by developer (NOPL). Accordingly, the earlier Work Order issued by Onix Renewable Limited has been mutually cancelled and replaced by the direct Work Order from NOPL for the same project vide letter dated 23rd June 2026 from Onix Renewable Limited to NOPL and Company. This change is solely on account of the restructuring of contractual arrangements following the acquisition and does not arise due to any dispute, default or performance-related issue.

The aforesaid change is not expected to have any material adverse impact on the Company's operations, financial position or business prospects as the Company continues to execute the EPC works for the project under the revised contractual arrangement with NOPL.

Shares of Vikran Engineering Limited was last trading in BSE at Rs. 70.29 as compared to the previous close of Rs. 71.14. The total number of shares traded during the day was 40035 in over 336 trades.

The stock hit an intraday high of Rs. 73.95 and intraday low of 70.00. The net turnover during the day was Rs. 2855167.00.

Source : Equity Bulls

Keywords

VikranEngineering INE01R501028 CivilConstruction NOPLSolarProjects OrderWin