Vikran Engineering Posts Strong Q2FY26 Growth

12 Nov 2025 CW Team

The company reported a strong operational performance during the quarter, with EBITDA nearly doubling year-on-year and Profit After Tax (PAT) rising over 4.4 times, driven by improved execution, project efficiencies, and disciplined cost management. Operating margins expanded by more than 600 basis points, underscoring the company’s focus on profitability and execution excellence.

During Q2FY26, revenue from operations stood at Rs 1.76 billion, up 10.7 per cent year-on-year from Rs 1.59 billion in Q2FY25. EBITDA rose sharply to Rs 250.4 million, compared to Rs 120.8 million in the same period last year, reflecting a 98.9 per cent growth. For the first half of FY26, revenue increased by 13.6 per cent year-on-year to Rs 3.35 billion, while EBITDA grew by 76.6 per cent to Rs 480.1 million, demonstrating strong financial momentum across business segments.

Commenting on the company’s performance, Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering, said, “The second quarter of FY26 has been a period of steady growth, with healthy year-on-year improvement in revenue and a notable expansion in EBITDA margins. This performance reflects our continued focus on operational discipline, efficient project execution, and prudent cost management.”

He further added, “We achieved significant order inflows during the quarter, particularly in the Solar EPC segment, where we secured two marquee projects — a Rs 3.54 billion order from Ellume Energy MH Solar One and a Rs 16.42 billion project from Carbonminus Maharashtra One. These wins mark a key milestone in our renewable energy journey and substantially enhance our growth visibility. Following our successful IPO, our consolidated order book now exceeds Rs 40 billion, providing strong execution visibility for the next two years and reinforcing our position as one of India’s emerging multi-sector EPC players.”

Markhedkar highlighted that the second half of the year typically contributes a larger share of EPC execution, and the company expects this trend to continue through FY26. With a healthy and diversified order pipeline and a growing presence across key infrastructure sectors, Vikran Engineering is well-positioned to undertake larger and higher-value projects in the coming quarters.

“Our robust execution capabilities, consistent focus on timely delivery, and operational excellence continue to strengthen client trust and enhance our project delivery performance. As we expand our footprint into international markets, particularly in Africa and the Middle East, we remain confident of achieving sustained growth, driving geographical diversification, and consolidating our leadership position in the EPC industry,” he concluded.

Vikran Engineering, one of India’s fast-growing EPC companies with a presence across Power Transmission & Distribution, EHV Substations, Railway & Metro Electrification, and the Water segment, announced its unaudited financial results for the second quarter and half year ended September 30, 2025.The company reported a strong operational performance during the quarter, with EBITDA nearly doubling year-on-year and Profit After Tax (PAT) rising over 4.4 times, driven by improved execution, project efficiencies, and disciplined cost management. Operating margins expanded by more than 600 basis points, underscoring the company’s focus on profitability and execution excellence.During Q2FY26, revenue from operations stood at Rs 1.76 billion, up 10.7 per cent year-on-year from Rs 1.59 billion in Q2FY25. EBITDA rose sharply to Rs 250.4 million, compared to Rs 120.8 million in the same period last year, reflecting a 98.9 per cent growth. For the first half of FY26, revenue increased by 13.6 per cent year-on-year to Rs 3.35 billion, while EBITDA grew by 76.6 per cent to Rs 480.1 million, demonstrating strong financial momentum across business segments.Commenting on the company’s performance, Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering, said, “The second quarter of FY26 has been a period of steady growth, with healthy year-on-year improvement in revenue and a notable expansion in EBITDA margins. This performance reflects our continued focus on operational discipline, efficient project execution, and prudent cost management.”He further added, “We achieved significant order inflows during the quarter, particularly in the Solar EPC segment, where we secured two marquee projects — a Rs 3.54 billion order from Ellume Energy MH Solar One and a Rs 16.42 billion project from Carbonminus Maharashtra One. These wins mark a key milestone in our renewable energy journey and substantially enhance our growth visibility. Following our successful IPO, our consolidated order book now exceeds Rs 40 billion, providing strong execution visibility for the next two years and reinforcing our position as one of India’s emerging multi-sector EPC players.”Markhedkar highlighted that the second half of the year typically contributes a larger share of EPC execution, and the company expects this trend to continue through FY26. With a healthy and diversified order pipeline and a growing presence across key infrastructure sectors, Vikran Engineering is well-positioned to undertake larger and higher-value projects in the coming quarters.“Our robust execution capabilities, consistent focus on timely delivery, and operational excellence continue to strengthen client trust and enhance our project delivery performance. As we expand our footprint into international markets, particularly in Africa and the Middle East, we remain confident of achieving sustained growth, driving geographical diversification, and consolidating our leadership position in the EPC industry,” he concluded.

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