Vikran Engineering Q2 FY27 Results: Consolidated Net Profit ₹2.75 Crore on Total Income of ₹216 Crore
- Earnings
- EPC and power
Reviewed byRachit TripathiBlacklitt Research
Vikran Engineering (NSE: VIKRAN) reported consolidated total income of ₹215.71 crore and net profit of ₹2.75 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹215.71 crore, up 20.3% YoY and 42.1% QoQ
- Net profit: ₹2.75 crore, down 69.9% YoY and 31.1% QoQ
- EPS, basic: ₹0.11, against ₹0.44 a year earlier and ₹0.15 in the June quarter
- Finance costs: ₹20.60 crore, up 14.1% YoY and 37.8% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 215.71 | 179.28 | +20.3% | 151.78 | +42.1% | |
| Revenue from operations | 211.84 | 176.29 | +20.2% | 141.59 | +49.6% |
| Other income | 3.87 | 2.99 | +29.4% | 10.19 | -62.0% |
| 2.75 | 9.14 | -69.9% | 3.99 | -31.1% | |
| Profit before tax | 2.80 | 9.79 | -71.4% | 5.43 | -48.4% |
| Finance costs | 20.60 | 18.05 | +14.1% | 14.95 | +37.8% |
| Depreciation | 2.73 | 0.59 | +362.7% | 1.09 | +150.5% |
| Tax expense | 0.05 | 0.65 | -92.3% | 1.44 | -96.5% |
| Net profit margin | 1.27% | 5.10% | -3.82 pp | 2.63% | -1.35 pp |
| EPS, basic (₹) | 0.11 | 0.44 | -75.0% | 0.15 | -26.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit fell 69.9% year on year, while profit before tax fell 71.4%. Profit before tax was ₹2.80 crore against ₹9.79 crore a year earlier, and the tax expense was ₹0.05 crore against ₹0.65 crore.
Revenue from operations rose 20.2% year on year to ₹211.84 crore, and other income rose 29.4% to ₹3.87 crore. Depreciation was ₹2.73 crore against ₹0.59 crore, and finance costs were ₹20.60 crore against ₹18.05 crore. The year-ago column is marked 'refer note 5', and the notes say consolidated results for periods before the subsidiary's incorporation represent the standalone results and may not be strictly comparable.
Other income was ₹3.87 crore, against ₹10.19 crore in the quarter ended 30 Jun 2026. The notes say other income for that quarter, and for the half year, includes ₹5.81 crore written back for provident fund liabilities after an order from the statutory authority. The year ended 31 Mar 2026 includes an exceptional expense of ₹1.21 crore for the New Labour Codes, made up of ₹55 lakh for gratuity and ₹66 lakh for compensated absence.
The notes say revenue, costs and profits can vary widely between quarters, which they link to the progress of individual projects that do not follow a uniform timeline. The Group acquired the remaining 51% stake in NOPL Solar Projects Private Limited for ₹5.10 crore; from 20 May 2026 NOPL is a wholly owned subsidiary, having been an associate from 27 Apr 2026 to 19 May 2026. The board also approved a common overheads and services agreement with NOPL valued at ₹80 crore during the project's construction period.
Inference
The auditor, Walker Chandiok & Co LLP, reported an unmodified conclusion on the consolidated results and drew attention to a customer litigation over a receivable of ₹26.36 crore pending in the Commercial Court, Jaipur. Management says the amount is good for recovery and that no liability is likely to arise, and the next hearing is set for 10 Dec 2026. On 4 Nov 2026 SEBI issued an administrative warning to the company and its board over a dispute with GS Products India, with an aggregate claim of about ₹12.50 crore before the MSME Facilitation Council, Aligarh. The company had said the additional disputed amount of about ₹1.81 crore was below its ₹3.26 crore materiality threshold, but SEBI observed that the aggregate claim exceeded that threshold and said the company had not disclosed the dispute to the stock exchanges. The board noted that the company will submit a detailed reply.
The board approved bids in PFC Consulting tenders for the 765 kV GSS Babai and the 400 kV GSS Bhojrajka (Khushkhera) transmission projects. Each would give the company 100% of a newly incorporated special purpose vehicle, subject to being declared the successful bidder, with the cost to be determined under the tender terms. The company's recent filings also include intimations of allotment of non-convertible debentures on 30 Oct 2026 and 03 Nov 2026.
The filing does not give the reasons for the fall in net profit, and the outcome of the customer litigation is not known.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
