Vikran Engineering Limited is a fast-growing Indian Engineering, Procurement, and Construction (EPC) company with a diversified portfolio focused primarily on energy and water infrastructure. The company provides end-to-end services, from conceptualization to commissioning, on a turnkey basis. Its service sectors include power transmission and distribution, water infrastructure, railway infrastructure, and solar energy.

Its key strengths lie in an in-house design and engineering team and a track record of timely project execution. The company has successfully completed 45 projects across 14 states with an executed contract value of over ₹19 billion as of June 30, 2025. It currently has 44 ongoing projects across 16 states with a total order book of over ₹24 billion.

Vikran Engineering has established a strong client base in the government sector, including prominent clients like NTPC Limited and Power Grid Corporation of India Limited. The company has demonstrated exceptional financial performance in the past years. The company’s focus on operational excellence and cost efficiency has enabled it to deliver high-value projects while meeting stringent quality standards.

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• Diversified Portfolio and Financial Performance: It maintains a diversified order book across various business verticals and has consistently delivered strong financial performance.
• Pan-India Presence and Asset-Light Model: The Company has established a pan-India presence and operates with an asset-light model, supported by a robust supply chain.
• Strong In-house Capabilities and Experienced Team: Its strengths include in-house technical and engineering capabilities, a focus on process control and quality, and an experienced management team with deep domain knowledge.
• Timely Project Execution: The Company is one of the fastest-growing EPC firms, with a strong track record of timely project execution in the power transmission, distribution, and water infrastructure sectors.

The Company VIKRAN ENGINEERING IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Funding working capital requirements of the company (₹ 541 Cr.)

General corporate purposes

At the upper band of IPO ₹ 97, the stock is valued at 32.15 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.