Slide 1: Revised Investor Presentation cover letter to exchanges
Date: 25th May 2026 To, To, The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai-400001. Bandra (E), Mumbai –400051. (Scrip Code: E
Slide 2: Investor Presentation May 2026
Investor Presentation May 2026
Slide 3: Safe Harbor
SAFE HARBOR This presentation has been prepared by Vikran Engineering Limited, solely to provide information about the Company to its stakeholders. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctnes
Slide 4: Table of Contents
TABLE OF CONTENTS 04 Financial & Operational Highlights 13 Company Overview 21 Business Verticals 29Way ahead Investor Presentation May 2026
Slide 5: Financial Highlights
“)>) Financial Highlights
Slide 6: Management Comment
MANAGEMENT COMMENT “ FY26 has been a defining year for Vikran Engineering as we strengthened our position across high-growth infrastructure segments, particularly Solar EPC. The scale-up in our order book reflects growing customer confidence in our execution capabilities and our ability to participa
Slide 7: Financial Snapshot
FINANCIAL SNAPSHOT (₹ in Cr) Revenue from Operations EBITDA & EBITDA Margin* PAT & PAT Margin 30% 70 14% 100 19% 13% 14% 11% 8% 9% 647 25% 60 12% 80 92 20% 50 56 10% 60 68 40 8% 15% 38 355 40 30 6% 10% 266 35 20 4% 20 5% 21 10 2% 0 0% 0 0% Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 F
Slide 8: Consolidated Profit & Loss Statement
CONSOLIDATED PROFIT & LOSS STATEMENT Particulars (₹ Cr) Q4 FY26 Q4 FY25 YoY (%) Q3 FY26 QoQ (%) FY26 FY25 YoY (%) Revenue from operations 647.4 355.4 82.2% 266.5 143.0% 1,249.3 915.8 36.4% Other income 6.8 4.0 6.5 16.9 6.5 Total income 654.2 359.3 82.1% 273.0 139.7% 1,266.2 922.4 37.3% Cost of mater
Slide 9: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET AS ON Particulars (₹ Cr) 31-Mar-26 31-Mar-25 Particulars (₹ Cr) 31-Mar-26 31-Mar-25 Property, plant and equipment 10.8 9.0 Equity share capital 25.8 18.4 Investment properties 2.1 2.1 Other equity 1,211.6 449.5 Intangible assets 0.2 0.2 Right-of-use assets 8.4 1.5 Total Eq
Slide 10: Order Book
ORDER BOOK ₹ in Cr As on 31st Mar, 2026 As on 31st Mar, 2025 Vertical Order Book % Order Book Order Book % Order Book Solar 2,825.1 54.2% - - Power T&D 1,705.8 32.8% 1,237.4 60.5% Water 634.4 12.2% 764.6 37.4% Railway 40.7 0.8% 42.3 2.1% Total 5,206.0 100.0% 2,044.3 100.0% Total Order Book as on 22n
Slide 11: Strategic Acquisition of NOPL Solar Projects
STRATEGIC ACQUISITION OF NOPL SOLAR PROJECTS Transforming Vikran into an Integrated Renewable Energy Platform Business Transformation Enhanced Earnings Quality • Strategic transition from a pure-play EPC contractor to an • Creates stable and predictable long-duration cash flows integrated renewable
Slide 12: Long Term Value Creation
LONG TERM VALUE CREATION Particulars Details Target Investment 969 MW PM-KUSUM Solar Portfolio Acquisition Structure 100% Ownership Total Project Cost ₹4,200 Cr PPA Tenure 25 Years Off-taker MSEDCL Tariff ₹3.074/kWh Strong Earnings & Cashflow Visibility Strong Execution & Scalability Advantage Gover
Slide 13: Company Overview
a: | Company Overview
Slide 14: About the Company
ABOUT THE COMPANY One of India’s fast-growing, diversified EPC companies, providing concept-to-commissioning solutions across key infrastructure sectors Diversified Presence PAN India Presence 45 completed projects across 14 states; currently active in 16 states with 190+ project and store locations
Slide 15: Journey
JOURNEY 2023 2024 2025 2026 Serviced first order from Special appreciation: Secured 765 kV substation project from Power Grid Completed acquisition of 100% stake in NOPL Solar NTPC Ltd. for a project in Commissioning bays at Successfully listed on NSE and BSE Projects Private Limited Kupwara, J&K Ka
Slide 16: Our Executive Board of Directors and KMPs
OUR EXECUTIVE BOARD OF DIRECTORS AND KMPS Experienced Promoters backed by Senior Leadership Team Nakul Markhedkar, Whole Time Director Rakesh Ashok Markhedkar, Promoter & CMD • Holds a Bachelor's degree in technology (electronics and • Experience of over 35 years in EPC project execution communicati
Slide 17: Our Executive Board of Directors and KMPs
OUR EXECUTIVE BOARD OF DIRECTORS AND KMPS Experienced Promoters backed by Senior Leadership Team Kanchan Rakesh Markhedkar, Chief Human Resource Officer • Leading the Human Resources and Administration functions across the Head Office and project sites. • Focuses on talent development, compliance, a
Slide 18: Brief Profile of Independent Directors
BRIEF PROFILE OF INDEPENDENT DIRECTORS Rakesh Sharma, Independent Director • He holds a Bachelor’s degree in Engineering (Mechanical) from Punjab Engineering College, Punjab Engineering College, Punjab University and a Master’s degree in marketing management from Jamnalal Bajaj Institute of Manageme
Slide 19: Key Strengths
KEY STRENGTHS SPECIALIZED EXPERTISE & DECADES OF EXPERIENCE HIGHEST FINANCIAL PERFORMANCE & MARGINS • 93+ Years of Combined Experience in Design & Engineering • Achieved Highest EBITDA Margin, ROCE, and ROE among peers • Promoters bring 7+ decades of cumulative industry experience (from firms like L
Slide 20: Geographical Presence and Asset Light Model
GEOGRAPHICAL PRESENCE 22 3,500+ Unique States Served till date Suppliers’ Network & Relationships PAN India 190 Asset Light Active Sites as on 31st March 2026 Model for Equipment and Machineries To Expand into Middle East in the Private Sector EPC Projects Investor Presentation May 2026
Slide 21: Key Clientele
KEY CLIENTELE Governments / Public Sector Undertakings (PSUs) Investor Presentation May 2026
Slide 22: Business Verticals
>| Business Verticals
Slide 23: Business Areas
BUSINESS AREAS Experience Renewable Energy Power Transmission & Distribution Solar EPC Projects • Transmission lines- HV • Water Pump Installation Expanding into Other EPC Portfolio • Substations- AIS & GIS • Ground Mounted Solar Projects • Power Distribution Network • Smart Metering Metro Infrastru
Slide 24: Power Transmission, Substation & Distribution
POWER TRANSMISSION, SUBSTATION & DISTRIBUTION Delivering Reliable Power Infrastructure from Grid to Ground. One of India’s leading power transmission EPC companies, Vikran Engineering specializes in the construction of high-voltage transmission lines up to 400 kV and substations up to EHV 765 kV (AI
Slide 25: Water Infrastructure
WATER INFRASTRUCTURE Provides turnkey solutions for water treatment plants, distribution networks, and rainwater harvesting systems, catering to the diverse water infrastructure needs of communities across India. With deep expertise in both surface and underground drinking water projects, the compan
Slide 26: Railway Infrastructure
RAILWAY INFRASTRUCTURE specializes in designing and executing projects across overhead electrification (OHE), traction substations (TSS), underground EHV cabling, and signaling & telecommunication systems, ensuring seamless operations for both mainline railways and metro networks. Landmark Projects
Slide 27: Glimpse of Some of the Key Projects Executed (1/2)
GLIMPSE OF SOME OF THE KEY PROJECTS EXECUTED (1/2) OHE 25kV, 50 Hz AC Railway 765 kV AIS Bays / 400 kV Bays Electrification Project between in Raipur Substation for Power Purpose : Power Distribution Sengottai & Punalur section of Grid Corporation of India Limited work in Arunachal Pradesh Intra Tam
Slide 28: Glimpse of Some of the Key Projects Executed (2/2)
GLIMPSE OF SOME OF THE KEY PROJECTS EXECUTED (2/2) Others Substation Package SS-99 (ii) Augmentation of • Commissioning of 765 kV AIS Bays / 400 kV Bays in Raipur Substation for PGCIL. transformation capacity by 1×500MVA, 400/220kV ICT under Augmentation • Commissioning of 90 KM of Ashta -- Ujjain 4
Slide 29: Vertical Capabilities: Power
Vertical CAPABILITIES : POWER Transmission Line & Substations up to Power Distribution Network Smart Metering Connections Substation - up to 765kV 400 kV 33kV/11kV 7 Projects 3 Projects 30 Projects 30,000 Connections Extra High Voltage (EHV) Air Insulated Substations (AIS) High Voltage Gas Insulated
Slide 30: Vertical Capabilities: Water, Railways and Solar
Vertical CAPABILITIES : WATER, RAILWAYS AND SOLAR Vertical Head Description • Designing, supplying, and constructing water treatment plants (WTP) Water • Building overhead service reservoirs (OHSR) and intake wells Scope of Work • Laying distribution pipe networks for surface and underground drinkin
Slide 31: Way Ahead
Way Ahead
Slide 32: Further Scale Up Operations Through Strategic Initiatives
FURTHER SCALE UP THE OPERATIONS THROUGH VARIOUS STRATEGIC INITIATIVES Action Points to diversify further, scale up revenues and enhance margins Further strengthen our presence in Selectively expand our geographical Expand our EPC portfolio into Capitalizing on Government Power Transmission and Distr
Slide 33: Thank You!
Thank You ! For more information please contact, Vikran Engineering Ltd Investor Relations Advisors B-2 & B-3, B Wing, 3rd AdfactorsPR Floor, Ashar IT Park, Road No. 16-Z, Wagle Industrial Mr. Sumit Kinikar / Mr. Shubham Sangle Estate, Thane – 400604 Sumit.Kinikar@adfactorspr.com / shubham.sangle@ad