Vikran Engineering’s shares rose 9.06 per cent to Rs. 61.15 after the company secured an order worth approximately Rs. 1.54 bn from Power Grid Corporation of India. The contract covers the 400 kV air-insulated switchgear (AIS) extension substation package SS 136T and will add to the company’s order book.

The project involves extending the 400/220 kV Tumkur-II AIS pooling substation and carrying out civil works for a 300 MVAR static synchronous compensator (STATCOM) at the same facility. It forms part of a transmission system strengthening initiative at Tumkur-II to support the integration of an additional 2.7 GW of renewable energy through the tariff-based competitive bidding route.

Vikran Engineering’s responsibilities include the design, engineering, manufacture, testing and supply of equipment and materials. The scope also covers transportation, unloading, storage, erection, testing and commissioning required for the complete execution of the package.

The work has been structured through separate contracts for the supply of goods and services. The overall execution schedule is 21 months from the date on which the notification of award is issued. Chairman and managing director Rakesh Markhedkar said the order would strengthen the company’s presence in high-voltage transmission infrastructure and demonstrate its capability to execute complex substation and grid projects.

The company operates as an engineering, procurement and construction (EPC) player across power transmission and distribution, water infrastructure and railway electrification, with emerging capabilities in solar EPC and smart metering. In the first quarter of FY27, consolidated net profit fell 29.38 per cent to Rs. 39.9 mn, while revenue increased 11.04 per cent to Rs. 1.42 bn compared with the corresponding quarter of FY26.