Vikran Engineering Secures MSEDCL Order For ₹530.80 Crore
Vikran Engineering Limited, one of India’s emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, today, April 4, 2026, announced that,
The Company has received two major Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL). Source: BSE
Order Details
According to the BSE data, MSEDCL, a Government of Maharashtra Undertaking, has awarded Vikran Engineering an order for the Development of distribution infrastructure and system strengthening works across,
(1) Nashik Zone, and
(2) Kolhapur Zone.
Both LoAs were issued under the Power Distribution Enhancement Program funded by the Asian Development Bank (ADB), awarded through National Competitive Bidding.
The company’s management official stated that work under both orders entails executing the project on a turnkey basis, covering end-to-end activities, including site survey, planning, design, engineering, manufacturing, testing, supply, transportation, installation, commissioning, and documentation of all items and materials (including civil works).
Key Deliverables
Key deliverables include new 33/11 kV, 22/11 kV, and 33/22 kV Substations, new 33 kV, 22 kV, and 11 kV transmission lines, augmentation of power transformers and sub-stations, renovation works, distribution transformers, LT lines, HT/LT underground cabling, GIS Mapping, and Asset Tagging.
Order Value
The total value of both orders is aggregating to ₹530.80 Crore (excluding GST).
(1) The Nashik Zone contract is valued at ₹235.63 Crore, and
(2) The Kolhapur Zone contract is valued at ₹295.17 Crore.
Duration
Each contract is scheduled to be completed within a 21-month timeline from the date of the respective Letter of Award, a company spokesperson added.
Exchange Compliance
The Company has filed these details in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Refer to Vikran Engineering latest News for further information.
Leadership View
Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering Limited, said:
These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure.
Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.
These orders meaningfully strengthen our order book and position us well for sustained growth as we continue to contribute to Maharashtra’s power infrastructure development and support India’s broader energy access ambitions through reliable, timely, and sustainable infrastructure delivery.
Market Cap: The company’s market capitalization is ₹1,430 Cr.
Technical: The stock is trading below its major simple moving averages (20-day, 50-day, and 100-day) with all SMAs sloping downwards.
Price Performance: On a year-to-date (YTD) basis, Vikran Engineering’s stock has lost 44.65 percent and is down 44.15 percent in the last three-month period. However, the company’s shares are trading 16.65 percent lower in the last one-month period.
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