Vikran Engineering Ltd
Incorporated in 2008, Vikran Engineering Limited is an Engineering, Procurement, and Construction (EPC) company.[1]
- Market Cap ₹ 1,794 Cr.
- Current Price ₹ 69.6
- High / Low ₹ 118 / 51.1
- Stock P/E 24.1
- Book Value ₹ 45.0
- Dividend Yield 0.00 %
- ROCE 27.2 %
- ROE 20.5 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.6%
Cons
- Company has high debtors of 253 days.
- Working capital days have increased from 96.5 days to 149 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Construction Construction Civil Construction
Part of BSE IPO BSE Allcap BSE Industrials
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 441 | 336 | 476 | 524 | 786 | 916 | 957 | |
| 374 | 300 | 442 | 444 | 652 | 754 | 806 | |
| Operating Profit | 68 | 36 | 34 | 80 | 134 | 162 | 151 |
| OPM % | 15% | 11% | 7% | 15% | 17% | 18% | 16% |
| -12 | 2 | 2 | 6 | 5 | 7 | 13 | |
| Interest | 16 | 15 | 19 | 29 | 35 | 55 | 62 |
| Depreciation | 1 | 1 | 2 | 4 | 4 | 3 | 3 |
| Profit before tax | 39 | 23 | 14 | 54 | 101 | 110 | 99 |
| Tax % | 34% | 28% | 28% | 21% | 26% | 29% | |
| 26 | 17 | 10 | 43 | 75 | 78 | 73 | |
| EPS in Rs | 886.36 | 569.90 | 355.72 | 1,475.21 | 2,253.92 | 4.24 | 3.53 |
| Dividend Payout % | 0% | 5% | 10% | 9% | 5% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 24% |
| TTM: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 95% |
| TTM: | 4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 28% |
| Last Year: | 20% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.29 | 0.29 | 0.29 | 0.29 | 0.33 | 18 | 26 |
| Reserves | 67 | 83 | 93 | 131 | 291 | 450 | 1,135 |
| 66 | 98 | 92 | 157 | 184 | 274 | 318 | |
| 154 | 192 | 314 | 425 | 484 | 612 | 491 | |
| Total Liabilities | 286 | 373 | 499 | 712 | 960 | 1,355 | 1,970 |
| 8 | 9 | 14 | 14 | 12 | 13 | 12 | |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 7 | 12 | 1 | 1 | 1 | 1 |
| 278 | 355 | 474 | 698 | 947 | 1,341 | 1,956 | |
| Total Assets | 286 | 373 | 499 | 712 | 960 | 1,355 | 1,970 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 20 | -12 | 23 | 6 | -66 | -129 | |
| 2 | -7 | -8 | -14 | -16 | -9 | |
| -23 | 20 | -22 | 9 | 82 | 141 | |
| Net Cash Flow | -2 | 1 | -7 | -0 | -0 | 2 |
| Free Cash Flow | 18 | -15 | 18 | 5 | -69 | -132 |
| CFO/OP | 55% | -22% | 92% | 15% | -35% | -66% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 137 | 268 | 283 | 258 | 215 | 253 |
| Inventory Days | 55 | 58 | 38 | 49 | 48 | 45 |
| Days Payable | 104 | 193 | 228 | 402 | 282 | 360 |
| Cash Conversion Cycle | 89 | 134 | 94 | -95 | -18 | -62 |
| Working Capital Days | 33 | 68 | 68 | 52 | 89 | 149 |
| ROCE % | 24% | 18% | 34% | 36% | 27% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Completed Projects (Cumulative) Number |
|
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| Fixed Asset Turnover Ratio Times |
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| Number of Professionals/Employees Number |
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| Order Book Value INR Cr |
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| Number of States with Operational Presence Number |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
16h - India Ratings reaffirmed A- rating; outlook changed to Negative for INR 5,200 million facilities.
-
Announcement under Regulation 30 (LODR)-Credit Rating
10 Apr - India Ratings assigned IND A-/Negative for proposed INR 500 million non-convertible debentures.
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Announcement under Regulation 30 (LODR)-Credit Rating
10 Apr - India Ratings reaffirmed A- ratings; outlook changed to Negative for INR 500 million debentures and INR 4,700 million loans.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Apr - Non-applicability certificate under Regulation 74(5) filed for quarter ended 31 March 2026.
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Announcement under Regulation 30 (LODR)-Credit Rating
8 Apr - India Ratings assigned Vikran Engineering proposed NCDs of Rs 500 crore a IND A-/Negative rating.
Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
Business Profile[1]
The company provides comprehensive end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis across multiple infrastructure sectors, including power transmission and distribution, water infrastructure, and railway projects.