Vikran Engineering Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,388 Cr
- P/E
- 15.25
- ROE
- 10.85%
- Price to sales
- 1.11
- Debt to equity
- 0.24
- 52W high / low
- ₹113 / ₹51.9
- EBITDA margin
- 14.30%
- Net profit margin
- 7.41%
- Promoter holding
- 56.27%
- Sales (last year)
- ₹1,249 Cr
Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) company.[1]
Guidance scorecard · Q1 FY27 call
What Vikran Engineering Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ1 FY27 call
20–40%- Vikran Engineering targets robust growth driven by two prestigious transmission lines and the 969 MW NOPL solar project.
- The company aims to execute INR2,300-2,500 crores of revenue in FY27, with approximately INR1,500 crores from the NOPL project.
- Revenue from NOPL is expected to increase significantly, with INR62 crores recognized in Q1 and around INR1,500 crores planned for the remaining year.
- Order book remains healthy and mostly profitable, supporting continued growth.
- Focus on high-margin, selective orders rather than low-margin aggressive bidding is expected to improve profitability.
- Receivables and working capital management improvements are anticipated to enhance cash flows.
2 more points from Vikran Engineering Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Vikran Engineering Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Vikran Engineering is investing significantly in the NOPL solar project, with a total project cost of around INR4,000 crores.
- They plan to complete the NOPL project within 12 months, targeting revenue of approximately INR1,500 crores in the current financial year.
- The project funding is planned at around 75% debt and 25% equity, with financial closure expected within the current quarter.
- A subsidy of around INR1,017 crores (CFA) is available to support refinancing.
- Multiple backup plans and lender arrangements are in place to ensure equity deployment without affecting other projects.
2 more points from Vikran Engineering Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Vikran Engineering Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book stands at approximately INR 6,496 crores.
- Significant order: 969 MW solar EPC project (NOPL) valued around INR 3,518 crores including GST.
- Company targets revenue execution of INR 2,300 to INR 2,500 crores in FY27.
2 more points from Vikran Engineering Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of Vikran Engineering Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Vikran Engineering Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 136 | 159 | 265 | 355 | 159 | 176 | 266 | 647 |
| Expenses + | 122 | 146 | 200 | 288 | 137 | 151 | 232 | 555 |
| Operating Profit | 14 | 13 | 65 | 68 | 23 | 25 | 35 | 92 |
| OPM % | 10% | 8% | 25% | 19% | 14% | 14% | 13% | 14% |
| Other Income + | 0 | 1 | 1 | 4 | 1 | 3 | 5 | 7 |
| Interest | 7 | 10 | 20 | 15 | 15 | 18 | 13 | 20 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 6 | 3 | 45 | 56 | 7 | 10 | 26 | 78 |
| Tax % | 30% | 32% | 26% | 32% | 24% | 7% | 19% | 28% |
| Net Profit + | 4 | 2 | 34 | 38 | 6 | 9 | 21 | 56 |
| EPS in Rs | 129.22 | 0.11 | 1.83 | 2.06 | 0.31 | 0.35 | 0.81 | 2.17 |
Financials of Vikran Engineering Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 441 | 336 | 476 | 524 | 786 | 916 | 1,249 |
| Expenses + | 374 | 300 | 442 | 444 | 652 | 754 | 1,074 |
| Operating Profit | 68 | 36 | 34 | 80 | 134 | 162 | 175 |
| OPM % | 15% | 11% | 7% | 15% | 17% | 18% | 14% |
| Other Income + | -12 | 2 | 2 | 6 | 5 | 7 | 16 |
| Interest | 16 | 15 | 19 | 29 | 35 | 55 | 66 |
| Depreciation | 1 | 1 | 2 | 4 | 4 | 3 | 3 |
| Profit before tax | 39 | 23 | 14 | 54 | 101 | 110 | 121 |
| Tax % | 34% | 28% | 28% | 21% | 26% | 29% | 24% |
| Net Profit + | 26 | 17 | 10 | 43 | 75 | 78 | 92 |
| EPS in Rs | 886.36 | 569.90 | 355.72 | 1,475.21 | 2,253.92 | 4.24 | 3.56 |
| Dividend Payout % | 0% | 5% | 10% | 9% | 5% | 0% | 0% |
Financials of Vikran Engineering Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.29 | 0.29 | 0.29 | 0.29 | 0.33 | 18 | 26 |
| Reserves | 67 | 83 | 93 | 131 | 291 | 450 | 1,212 |
| Borrowings + | 66 | 98 | 92 | 157 | 184 | 274 | 301 |
| Other Liabilities + | 154 | 192 | 314 | 425 | 484 | 612 | 965 |
| Total Liabilities | 286 | 373 | 499 | 712 | 960 | 1,355 | 2,504 |
| Fixed Assets + | 8 | 9 | 14 | 14 | 12 | 13 | 21 |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 7 | 12 | 1 | 1 | 1 | 1 |
| Other Assets + | 278 | 355 | 474 | 698 | 947 | 1,341 | 2,481 |
| Total Assets | 286 | 373 | 499 | 712 | 960 | 1,355 | 2,504 |
Financials of Vikran Engineering Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 20 | -12 | 23 | 6 | -66 | -129 | -437 |
| Cash from Investing Activity + | 2 | -7 | -8 | -14 | -16 | -9 | -156 |
| Cash from Financing Activity + | -23 | 20 | -22 | 9 | 82 | 141 | 624 |
| Net Cash Flow | -2 | 1 | -7 | -0 | -0 | 2 | 31 |
| Free Cash Flow | 18 | -15 | 18 | 5 | -69 | -132 | -553 |
| CFO/OP | 55% | -22% | 92% | 15% | -35% | -66% | -224% |
Financials of Vikran Engineering Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 137 | 268 | 283 | 258 | 215 | 253 | 296 |
| Inventory Days | 55 | 58 | 38 | 49 | 48 | 45 | 60 |
| Days Payable | 104 | 193 | 228 | 402 | 282 | 360 | 596 |
| Cash Conversion Cycle | 89 | 134 | 94 | -95 | -18 | -62 | -240 |
| Working Capital Days | 33 | 68 | 68 | 52 | 89 | 149 | 282 |
| ROCE % | 24% | 18% | 34% | 36% | 27% | 17% |
Guidance history
How Vikran Engineering Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
4 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −47.5% | 6% |
| Last 6 months | −25.5% | 12% |
| Last 3 months | −24.8% | 8% |
The price is 53.1% below its all-time high of ₹114.88 (19 Sept 2025). Stocks more than 20% below their peak have their score halved, so 8 became 4.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Vikran Engineering Ltd: 0.4 × 6 + 0.4 × 12 + 0.2 × 8 = 8, halved to 4 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Vikran Engineering Ltd's management said in earlier quarters
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