Shares of Vikran Engineering Limited jumped more than 14% in morning trade after the company announced a major renewable energy contract win, strengthening its position in India’s fast-growing solar EPC space.
The rally came after Vikran Engineering confirmed that it has accepted a large work order worth ₹2,035.26 crore (excluding GST) from Onix Renewables Limited. The order was accepted on December 23, 2025, and relates to the development of a 600 MW AC solar power project spread across multiple locations in Maharashtra.
Under the agreement, Vikran Engineering will execute the project on a turnkey EPC basis, covering the entire lifecycle from design and engineering to procurement, supply, erection, testing, and commissioning. The scope also includes the supply of key components such as solar PV modules and inverters, positioning the company as a full end-to-end execution partner for the project.
The contract has been awarded by a domestic entity and is classified as an EPC works order for solar plant development. While the base contract value stands at ₹2,035.26 crore excluding GST, the total value including applicable taxes and GST is estimated at around ₹2,216.40 crore. The company has indicated that the entire project is scheduled to be completed within a 12-month execution timeline.
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