Vikran Engineering Limited — Investor Meet, 01-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Vikran Engineering Limited held a Q4 and FY26 Earnings Conference Call on May 26, 2026. Management discussed the company's strategic evolution, diversification into solar EPC, and strong execution capabilities across power transmission, water infrastructure, and railway electrification. They highlighted the acquisition of NOPL Solar, which strengthens their integrated renewable energy platform, and a credit rating upgrade to IND A-. The outlook for FY27 is cautiously confident, focusing on scaling the business sustainably, with growth driven by solar EPC and power transmission.

Financial highlights for FY26 show a record revenue of INR1,249 Cr, up from INR916 Cr in FY25, with EBITDA at INR175 Cr and PAT at INR92 Cr. For Q4 FY26, revenue was INR647 Cr and EBITDA was INR92 Cr. Management anticipates FY27 revenue to exceed INR2,200 Cr, maintaining EBITDA margins around 14-15%. They are focused on improving cash flow, targeting positive operating cash flow by FY28, and do not plan for further equity dilution.

Key discussion points included the status of the Onix project, which is now fully integrated, and a robust current order book of INR5,700 Cr. The company is exploring opportunities in data center EPC projects, leveraging its existing strengths in power and water infrastructure. Management expressed confidence in their execution capabilities and future growth trajectory, aiming for a 35-36% CAGR.