Vikran Engineering jumped 8.79% to Rs 60.25 after the company announced that it has received two major letters of award (LoA) aggregating to Rs 530.80 crore from Maharashtra State Electricity Distribution Co. (MSEDCL).
The Maharashtra State Electricity Distribution Company is a Government of Maharashtra undertaking.
These contracts are for undertaking distribution infrastructure strengthening works in the Nashik and Kolhapur zones under the ADB-funded power distribution enhancement program.
The Nashik package is valued at Rs 235.63 crore, while the Kolhapur package stands at Rs 295.17 crore.
The scope includes end-to-end EPC execution covering survey, design, engineering, supply, installation and commissioning of distribution infrastructure, including new substations, transmission lines, transformer augmentation, underground cabling and GIS-based asset mapping.
Both projects are to be executed on a turnkey basis with a completion timeline of 21 months from the respective award dates.
Rakesh Markhedkar, chairman and managing director, Vikran Engineering, said: “These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure.
Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.”
Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.
The company had reported a 37.9% decline in standalone net profit to Rs 20.91 crore on a 0.5% rise in net sales to Rs 266.46 crore in Q3 FY26 as compared with Q3 FY25.
