• Power Grid order: Vikran bagged a ₹153.73 crore (₹181 crore including GST) contract for a 400 kV substation and 300 MVAR STATCOM in Tumkur, Karnataka, with a 21-month execution timeline and 12–15% delivery expected in the current financial year.
• Order book visibility: The unexecuted order book stands at ₹6,503 crore—split across solar (61%), power T&D (30%), and water (10%)—with ₹4,000 crore in additional orders targeted over the next six months and ₹2,500–3,000 crore in L1 positions.
• NOPL acquisition impact: The acquired ₹4,200 crore NOPL Solar project provides ~₹3,000 crore in EPC value and is projected to generate ₹525 crore in annual revenue at an 85–88% EBITDA margin, with 650 MW of the 969 MW capacity targeted for completion by March.
• FY27 financial guidance: Management maintained its FY27 targets, projecting minimum revenue of ₹2,200 crore and an EBIT margin of approximately 15%, translating to around ₹320–325 crore in EBIT.