Vikran Engineering Shares Jump 15% on Rs 2,035 Crore Solar EPC Order Win
Vikran Engineering, a diversified EPC firm with established capabilities in power transmission, water infrastructure, railway electrification, and growing expertise in solar EPC, recently made headlines as its shares surged by 15%. The stock reached an intraday high of Rs 99.80 on the BSE after the announcement of a significant Rs 2,035.26 crore Engineering, Procurement, and Construction (EPC) order secured from Onix Renewables Limited.
Details of the Solar EPC Order
– The contract involves the development of 600 MW AC solar power projects across various locations in Maharashtra.
– Awarded on December 23, the project will be executed on a turnkey basis, emphasizing Vikran Engineering’s comprehensive service capabilities.
– Services covered include:
– Design and engineering
– Procurement of essential materials
– Erection, testing, and commissioning
– Supply of crucial components such as solar PV modules and inverters
– Completion of the entire project is scheduled within 12 months.
Leadership Insights
Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering, remarked, “This order represents a pivotal milestone for Vikran Engineering. It underscores the robust momentum in our renewable energy EPC business and signifies trust in our engineering excellence and project management capabilities. This achievement significantly strengthens our order book and positions us favorably for sustainable growth as we continue to contribute to India’s clean energy goals through reliable and timely infrastructure development.”
Strategic Implications
This notable order win not only enhances Vikran Engineering’s renewable energy portfolio but also solidifies its standing in power transmission and distribution, water infrastructure, and railway electrification. The company’s strategy focuses on expanding its involvement in complex infrastructure projects while upholding high execution standards.
In summary, Vikran Engineering’s recent 15% increase in shares following the sizeable solar EPC order reflects both its market confidence and strategic growth in the renewable energy sector. As the company embarks on this major project, it further cements its commitment to supporting India’s clean energy ambitions through sustainable infrastructure solutions.