Vikran Engineering Wins $2,035 Cr Solar EPC Order, Shares Jump 15%

Vikran Engineering’s shares surged over 15% on Dec 24 after the company announced a massive solar contract worth about Rs 2,035 crore.

Details of the order

The company will design, build, and commission a 600 MW solar power project for Onix Renewables in Maharashtra. The deal covers everything from engineering to supplying solar panels and inverters, and is expected to finish within 12 months.

Impact on the stock

The stock rose to Rs 99.96 per share in morning trading, close to its market value of around Rs 2,235 crore. After the announcement, the shares stayed slightly above the IPO price of Rs 97.

Credit rating upgrades

• Long‑term bank facilities of Rs 140.40 cr: upgraded to IVR A‑/Stable.
• Long‑/short‑term facilities of Rs 280 cr: upgraded to IVR A‑/Stable (A2+).
• Short‑term facilities of Rs 40 cr: upgraded to IVR A2+.

Why it matters

This contract adds a huge renewable project to Vikran’s portfolio and strengthens its order book, supporting its goal of growing in large‑scale infrastructure work. The rating upgrades also improve the company’s borrowing terms.

Remember, this is just an overview, not a prediction. Do your own research before making any investment decisions.