Vikran Engineering Secures Rs 530.80 Crore Orders for Distribution Infrastructure in Maharashtra
Join Us
Follow Us
The stock price has declined over 44.88 per cent in last one year. The stock has delivered around 8.42 per cent returns from its 52-week low of Rs 51.10 per share.
✨ AI Powered Summary
On Thursday, shares of Vikran Engineering Ltd fell 0.22 per cent to Rs 55.45 per share from its previous closing of Rs 55.57 per share. The stock’s 52-week high is Rs 118.40 per share and its 52-week low is Rs 51.10 per share. The stock surged around 0.56 per cent to its Intraday high of Rs 55.88.
Vikran Engineering Ltd (VEL) has announced that it has secured two major Letters of Award (LoA) aggregating to Rs 530.80 crore (excluding GST) from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), a Government of Maharashtra undertaking. The contracts are for the development of distribution infrastructure and system strengthening works across the Nashik and Kolhapur zones in Maharashtra.
The orders have been awarded under the Asian Development Bank (ADB)-funded Power Distribution Enhancement Program through a National Competitive Bidding process. The Nashik Zone contract is valued at Rs 235.63 crore, while the Kolhapur Zone contract stands at Rs 295.17 crore, both excluding GST.
The scope of work under these contracts includes end-to-end turnkey execution covering site survey, planning, design, engineering, manufacturing, testing, supply, transportation, installation, commissioning, and documentation, including civil works. Key deliverables involve setting up new 33/11 kV, 22/11 kV, and 33/22 kV substations, development of 33 kV, 22 kV, and 11 kV transmission lines, augmentation and renovation of substations and Transformers, installation of distribution transformers, laying of LT and HT underground cabling, and implementation of GIS mapping and asset tagging.
Both projects are scheduled to be completed within a 21-month timeline from the respective dates of award.
Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Ltd, stated that securing both contracts through competitive bidding reflects strong confidence in the company’s technical expertise and execution capabilities. He added that these orders significantly strengthen the company’s Order Book and support its long-term growth while contributing to Maharashtra’s power infrastructure development.
Vikran Engineering Ltd is a diversified EPC company with operations across power transmission and distribution, water infrastructure, and Railway electrification, along with emerging capabilities in Solar EPC and smart metering. The company provides end-to-end turnkey solutions and has completed 45 projects across 14 states, serving clients such as NTPC, Power Grid Corporation of India, and various state utilities.
The company has a market cap of over Rs 1,430 crore. The stock price has declined over 44.88 per cent in last one year. The stock has delivered around 8.42 per cent returns from its 52-week low of Rs 51.10 per share.
Disclaimer: The article is for informational purposes only and not investment advice.