Vikran Engineering Ltd. held its Q1 FY27 earnings conference call to discuss financial performance and business updates.
**Financial Performance:**
* Standalone revenue grew ~28% YoY to INR204 Cr.
* EBITDA rose ~24% YoY to INR28 Cr, with margins at 13.7%.
* PAT surged ~210% YoY to INR17.5 Cr, with margins improving to 8.6%.
* Consolidated revenue was INR141.6 Cr with EBITDA of INR11.3 Cr and PAT of INR4 Cr.
* Standalone financials are recommended for review due to NOPL consolidation impact.
**Operational Highlights & Outlook:**
* Order book stands at INR6,496 Cr, with Solar EPC at 62% and Power T&D at 28%.
* NOPL solar EPC project (969 MW, INR3,518 Cr) is on track for execution within 12 months.
* Secured orders aggregating INR530 Cr from MSEDCL and INR120 Cr from Power Grid.
* Successfully commissioned Miao-Namsai transmission line in Arunachal Pradesh.
* Management is focused on disciplined execution, working capital management, and sustainable project returns.
* Exploring opportunities in battery energy storage systems and data center infrastructure.
**Analyst Q&A Highlights:**
* NOPL orders contributed INR62 Cr to standalone revenue.
* H2 is expected to see heavier execution and growth due to seasonal industry trends.
* Discussions are ongoing for project financing for NOPL, with positive initial assessments.
* Debtor days are seen as peaking and expected to decline.
The company demonstrated strong operational momentum and a positive outlook, particularly with the scaling up of its solar EPC business.