Vikran Engineering shares rally nearly 10% as firm bags 45.75 MW solar power projects in Madhya Pradesh

The company had “accepted Letters of Awards (LOAs) from M.P. Urja Vikas Nigam Limited for the implementation of grid-connected Solar PV-based power plants with a total capacity of 45.75 MW AC in Vidisha district, Madhya Pradesh,” Vikran Engineering had said in a regulatory filing on December 26.

The projects will be developed under the Surya Mitra Krishi Feeders Scheme, with feeder solarisation as part of the PM KUSUM-C scheme, for the sale of power to Madhya Pradesh Power Management Company Limited (MPPMCL).

Under the awards, Vikran Engineering will also act as a Renewable Power Generator (RPG) for the implementation of the solar power plants. The projects will have a power purchase tenure of 25 years, with tariffs ranging from ₹2.75 per kWh to ₹2.80 per kWh, as specified in the LOAs.

The projects have been granted by a domestic government entity, and the company has confirmed that the contracts do not fall under related party transactions, in line with applicable regulatory disclosures, Vikran Engineering further said.

“The acceptance of these LOAs further strengthens Vikran Engineering’s growing presence in decentralised and utility-scale solar projects, particularly those aligned with national schemes aimed at agricultural feeder solarisation and renewable energy integration,” the company added.

Last week, the company had bagged another EPC order worth ₹2,035 crore. The firm had received the work order from Onix Renewables Limited, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in the state of Maharashtra.

Vikran Engineering share price

At 11:35 AM, Vikran Engineering shares were trading at ₹105.70 apiece on NSE, surging 4.91%.

Listed in September 2025, the stock has gained 18% in the last five trading sessions. It has advanced over 3% in a month’s time.

The company has a market capitalisation of ₹2,728.44 crore, according to NSE data.

About Vikran Engineering

Vikran Engineering, which offers engineering, procurement and construction (EPC) services, provides end-to-end services, ranging from conceptualisation and design to testing and commissioning on a turnkey basis.

It has a presence across sectors like power, water, and railway infrastructure and has successfully executed projects for government entities, public sector undertakings (PSUs), and private companies.