The Vikran Engineering Share Price is now trading in the ₹97-99 price band on the National Stock Exchange of India (NSE: VIKRAN) and the Bombay Stock Exchange (BSE: 544496). This is following its recent volatility following its IPO and is currently backed by a continuous stream of massive solar EPC and infrastructure contracts. There is an improvement in the investor mood with the company still enhancing its order book, profit margins and fitting itself to the long-term power transmission, renewable energy, water and rail infrastructure development story of India. At a 2,500-2,560 crore market capitalisation and VWAP generally near 98.5, Vikran Engineering is now on the radar of mid-cap and infrastructure-related investors seeking high-growth EPC opportunities outside of the established giants.
This article will guide complete information about Vikran Engineering Share Price 2026-2030: Overview, Financials, Orders, and More.
Vikran Engineering Limited Company Overview
Vikran Engineering limited is a turnkey EPC (Engineering, Procurement and Construction) contractor founded in 2008 and operating in over 14 states of India. The firm has developed high performance in power transmission and distribution, water infrastructure, railway electrification and most recently, solar power EPC projects. Vikran Engineering has finished over 45 infrastructure projects over the years and the total cost of these projects is over 1900 crore. Its customer base comprises famous government and state owned utilities like NTPC, Power grid corporation of India, MPPMCL and other state electricity boards. The organization’s change in strategy towards renewable energy EPC projects which include extensive and solar projects supported by the government in particular has bolstered its position in the market overall. Position as India undergoes the transition towards clean energy. Promoters presently own approximately 56 percent with CMD Rakesh Markhedkar being the leader which shows high promoter commitment, long term outlook.
| Particulars | Details |
| Company Name | Vikran Engineering Limited |
| Founded | 2008 |
| Sector | EPC – Power, Water, Railways, Solar |
| Market Cap | ₹2,512–2,558 crore |
| NSE Symbol | VIKRAN |
| BSE Code | 544496 |
| Promoter Holding | ~56.2% |
| Order Book | ~₹2,442 crore |
| ROCE | ~27% |
| ROE | ~20.5% |
Vikran Engineering Limited Business Strength
The main advantage of Vikran Engineering is its turnkey EPC, which enables clients to engage one contractor when it comes to the complex infrastructure projects. This model enhances performance, cost-effectiveness and schedules. The high ROCE and ROE of the company point to the efficient utilization of capital, whereas the stable growth of revenues means the increasing capacity of the projects implementation.
Key Positives & Risks
| Aspect | Observation |
| Strength | Strong 3-year average ROE of ~27.6% |
| Strength | Improving operating margins (up to ~18%) |
| Risk | High debtor days at ~253 |
| Risk | Rising working capital days (149 days) |
Peer Positioning (At a Glance)
| Company | Market Cap (₹ Cr) | P/E | ROCE % |
| Larsen & Toubro | 5,70,708 | 35.6 | 14.5 |
| NBCC | 32,306 | 48.4 | 33.2 |
| KEC International | 20,030 | 29.4 | 18.0 |
| Vikran Engineering | 2,517 | 29.7 | 27.2 |
Overall Vikran Engineering is an efficient mid-cap player in the EPC market, although its size is below average, it has above-average returns ratios.
Vikran Engineering Limited Share Price Live Details
The stock of Vikran Engineering has been moving range-bound within recent sessions, which suggests consolidation following severe rallies on order related news.
| Exchange | Price (₹) | Day Range (₹) | 52W High / Low (₹) | Volume |
| NSE | ~99.17 | 97.11 – 99.90 | 118.40 / 84.20 | 2.3M+ |
| BSE | ~97.4–98.6 | Intraday stable | 118.40 / 84.20 | High |
Although the stock is trading below its 50-day moving average, it remains very active indicating the involvement of institutions and high-net-worth investors.
Vikran Engineering Limited Share IPO and Listing Performance
In September 2025, Vikran Engineering listed its stock in the stock market following a 772 crore IPO priced at 92-97 band. The problem involved a new issue and offer-for-sale and proceeds were mainly utilized in working capital and debt reduction and expansion.
The stock priced at a small premium of about 99, although it experienced selling pressure during the first sessions and ended lower on the first day of trading. It bounced back after listing in a sharp way because of a good performance in order wins but after that it faltered because of volatile quarterly earnings. At the moment, the share is trading almost at its IPO price, providing a new investor entry point.
| IPO Particulars | Details |
| IPO Opening Date | 26 August 2025 |
| IPO Closing Date | 29 August 2025 |
| Listing Date | 3 September 2025 |
| Price Band | ₹92 – ₹97 per share |
| Issue Size | ~₹772 crore |
| Issue Type | Fresh Issue + Offer for Sale (OFS) |
| Lot Size | 148 shares |
| Minimum Investment | ~₹14,356 |
| Listing Price | ~₹99 per share |
| Listing Gain | ~2% over upper band |
| Exchanges | NSE (VIKRAN), BSE (544496) |
Vikran Engineering Limited Share Price Historical Trend Analysis
The price trend points to a trend common with new EPC stocks- sharp rallies due to news of an order, and then downplay.
| Period | High (₹) | Low (₹) | Key Trigger |
| Listing Month (Sep 2025) | ~118 | ~95 | IPO buzz & order optimism |
| Q1 FY26 | ~110 | ~95 | Profit decline |
| Dec 2025 | ~106 | ~97 | Solar EPC orders |
| Jan 2026 | ~100 | ~97 | Consolidation |
Vikran Engineering Limited – Share Price 2026-2030 Forecast
Hence the price targets of Vikran Engineering for the upcoming years are just speculative analyst predictions and not concrete values. As of early 2026, the stock is trading in the ₹97–103 range. Analysts provide future year share price estimates of Vikran Engineering, which are not guaranteed values. By early 2026, the stock is trading at ₹97-₹103. Prices have a wide range of future price objectives on platforms depending on a number of uncertain factors, which include order book growth, execution in EPC (power, solar, railways), debt and working capital control, government infrastructure expenditures, and market conditions. The decline of some algorithm-based platforms is sharp, and optimistic analysts foresee high long-term growth on the basis of infrastructure drive in India. We advise investors to take such predictions as orientation of opinions but not as investment recommendations.
Share Price Forecast (Analyst Estimates)
| Year | Bearish Estimates (₹) | Bullish Estimates (₹) | Key View |
| 2026 | ~79 | 130 – 404 | Highly mixed outlook |
| 2027 | ~56 | 387 – 621 | Polarized forecasts |
| 2028 | ~33 | 600 – 830 | Infrastructure-led optimism |
| 2029 | ~10 | 812 – 1054 | Extreme divergence |
| 2030 | Near zero* | 1034 – 1300 | Long-term bull case |
Vikran Engineering Limited Order Book and Business Visibility
Vikran Engineering has a strong and diversified order book of about 2,442 crore, which is one of the largest strengths of the company. Recent key wins include:
- NTPC 400 MW solar EPC project 459 crore.
- 45.75 MW PM-KUSUM solar projects in Madhya Pradesh.
- Onix Renewables ₹ 2,035 crore large-scale solar EPC tender.
These projects give the firm revenue exposure in the coming 12-24 months and enhance the portfolio of this firm on the renewable energy front, which is likely to be a significant growth driver.
Vikran Engineering Limited Share Financial Performance Overview
Annual Financials
| FY | Revenue (₹ Cr) | PAT (₹ Cr) | EPS (₹) | ROCE (%) |
| FY24 | 786 | 75 | 2.25 | ~27 |
| FY25 | 916 | 78 | 4.24 | 27.2 |
Vikran Engineering Limited Share Quarterly Financial Performance (₹ Crore)
Q2 FY26 recorded high growth in profitability with PAT increasing more than four times year on year with improved execution and operating leverage.
| Quarter | Sales | Operating Profit | Net Profit |
| Jun 2024 | 136.06 | 14.07 | 4.29 |
| Sep 2024 | 159.24 | 12.78 | 2.08 |
| Mar 2025 | 355.35 | 67.85 | 37.76 |
| Jun 2025 | 159.16 | 22.65 | 5.65 |
| Sep 2025 | 176.29 | 25.44 | 9.14 |
The March 2025 quarter stands out, driven by higher execution and improved margins.
Vikran Engineering Limited Balance Sheet Strength
Vikran Engineering has a comfortable debt profile of total debt approximately 270-275 crore and debt-to-equity ratio of less than 0.6. Improved financial flexibility and lowered cost of borrowing have been brought about by credit rating upgrades to A-/Stable.
| Metric | Value |
| Total Assets | ~₹1,355 crore |
| Total Debt | ~₹273 crore |
| Debt/Equity | ~0.58 |
| Book Value | ~₹45 |
Vikran Engineering Limited Valuation Ratios and Peer Comparison
While the P/B ratio appears elevated, the company’s superior ROCE and growth visibility justify partial premium valuation compared to peers.
| Metric | Vikran Engg | Sector Avg |
| P/E | ~30–34 | ~42 |
| P/B | ~4.7–4.8 | ~3.5 |
| ROE | ~20% | ~15% |
Future Growth Outlook
Vikran Engineering Limited Share price is targeting about 3,500 crore new orders in FY26, due to increasing government expenditure on power transmission, rail, water supply, and renewable energy projects. The long term solar capacity addition and expansion in the power grid of India offers a big visibility of multi year growth to EPC players such as Vikran engineering. The company is enjoying a healthy order inflow, high ROCE, increasing operating margins, expanding renewable energy exposure, and having an experienced promoter group that enhances the growth outlook. Yet, high working capital, the risk of execution lag and strong competition with larger EPC companies should be taken into consideration by investors since it may influence profitability and cash flows unless handled effectively.
Conclusion
Vikran Engineering Limited share price is a high growth EPC company that has successfully transferred to renewable energy infrastructure. Although short-term changes are the expected volatility being the result of execution cycles and market sentiment, the solid order book, increasing profitability, and future wind of infrastructure of the company make it an attractive long-term investment story among the average-risk investors. Investors in emerging EPC stocks outside the large cap should pay close attention to Vikran Engineering as the infrastructure and clean energy accelerates in India.
FAQs
Vikran Engineering is an EPC firm that undertakes turnkey contracts in power transmission, railways, water infrastructure and renewable energy.
The future is good because of the infrastructure investment that is run by the government and the 3,500 crores of new orders that the company plans to achieve in FY26.
Yes, the company is increasingly being exposed to solar and power grid projects, which provide long-term growth prospects.
Its major strengths involve high order inflow, high ROCE, increasing margins, and experienced promoter group.
The key risks to consider are large working capital demands, potential delays during the execution, and the threat of being displaced by larger EPC players.
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