WEBSITE BSE:544496 NSE: VIKRAN Inc. Year: 2008 Industry: Engineering - Construction My Bucket: Add Stock
Last updated: 15:56
Vikran Engineering Ltd. is a fast-growing EPC (Engineering, Procurement & Construction) company in India with turnkey infrastructure projects in public utility sectors such as power transmission and distribution, water infrastructure, and railway electrification. It provides the full EPC value chain from design, supply, and installation to testing and handover. It has constructed high-voltage substations with voltages of 765 kV, implemented smart metering systems, and completed large-scale water projects funded under government programs, includ...Read More
Vikran Engineering Ltd. is a fast-growing EPC (Engineering, Procurement & Construction) company in India with turnkey infrastructure projects in public utility sectors such as power transmission and distribution, water infrastructure, and railway electrification. It provides the full EPC value chain from design, supply, and installation to testing and handover. It has constructed high-voltage substations with voltages of 765 kV, implemented smart metering systems, and completed large-scale water projects funded under government programs, including the Jal Jeevan Mission. Vikran is implementing a capital-efficient asset-light model to create operational cost efficiencies and enhanced capital flexibility by leasing most of the equipment. By the middle of FY25, it had executed 45 projects, spread across 14 states, had 44 projects in progress across 16 states, and had an order book of over ₹2,400 crore of unexecuted business. Vikran has exhibited strong financial performance, achieving revenue growth of nearly 32% CAGR for FY23, FY24, and FY25 as it is supported by a wide public-sector customer base such as NTPC, Power Grid, etc. The company has filed for an IPO, with an offering size of ₹772 crore, for working capital purpose, expansion, and general corporate purposes. Vikran\'s operating margins remain strong also with EBITDA expected to reach 17.5% in FY25, with a PAT margin of ~8.44%. With a national presence (over 190 active sites) and extensive experience in power and water infrastructure, Vikran Engineering is uniquely positioned to benefit from India’s growing infrastructure capex, especially in clean energy, smart water networks, and electrified rail. ...Read Less
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Market Cap ₹1808 Cr.
Stock P/E 23.2
P/B 1.5
Current Price ₹70.1
Book Value ₹ 45.8
Face Value 1
52W High ₹118.4
Dividend Yield 0%
52W Low ₹ 51.1
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|
| Net Sales | 136 | 159 | 265 | 159 | 176 | 266 |
| Other Income | 0 | 1 | 1 | 1 | 3 | 7 |
| Total Income | 136 | 160 | 266 | 160 | 179 | 273 |
| Total Expenditure | 122 | 146 | 200 | 137 | 151 | 232 |
| Operating Profit | 14 | 14 | 66 | 23 | 28 | 41 |
| Interest | 7 | 10 | 20 | 15 | 18 | 13 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -1 |
| Profit Before Tax | 6 | 3 | 45 | 7 | 10 | 26 |
| Provision for Tax | 2 | 1 | 12 | 2 | 1 | 5 |
| Profit After Tax | 4 | 2 | 34 | 6 | 9 | 21 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 4 | 2 | 34 | 6 | 9 | 21 |
| Adjusted Earnings Per Share | 0.3 | 0.1 | 1.8 | 0.3 | 0.4 | 0.8 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 474 | 524 | 786 | 916 | 866 |
| Other Income | 5 | 5 | 5 | 7 | 12 |
| Total Income | 480 | 529 | 791 | 922 | 878 |
| Total Expenditure | 449 | 444 | 652 | 754 | 720 |
| Operating Profit | 31 | 85 | 140 | 168 | 158 |
| Interest | 19 | 29 | 33 | 55 | 66 |
| Depreciation | 2 | 4 | 4 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 1 | 0 | 0 | -1 |
| Profit Before Tax | 9 | 54 | 103 | 110 | 88 |
| Provision for Tax | 3 | 11 | 28 | 32 | 20 |
| Profit After Tax | 7 | 43 | 75 | 78 | 70 |
| Adjustments | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 7 | 43 | 75 | 78 | 70 |
| Adjusted Earnings Per Share | 0.4 | 2.9 | 4.4 | 4.2 | 3.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 17% | 25% | 0% | 0% |
| Operating Profit CAGR | 20% | 76% | 0% | 0% |
| PAT CAGR | 4% | 123% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 21% | 32% | 26% | 26% |
| ROCE Average | 27% | 32% | 27% | 27% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | 89 | 131 | 291 | 468 |
| Minority's Interest | 0 | 0 | 0 | 0 |
| Borrowings | 37 | 37 | 11 | 32 |
| Other Non-Current Liabilities | 22 | 14 | 25 | 43 |
| Total Current Liabilities | 352 | 550 | 667 | 857 |
| Total Liabilities | 499 | 732 | 995 | 1400 |
| Fixed Assets | 13 | 12 | 10 | 11 |
| Other Non-Current Assets | 53 | 80 | 76 | 91 |
| Total Current Assets | 434 | 640 | 909 | 1299 |
| Total Assets | 499 | 732 | 995 | 1400 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 4 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 19 | 6 | -66 | -129 |
| Cash Flow from Investing Activities | -5 | -14 | -16 | -9 |
| Cash Flow from Financing Activities | -17 | 9 | 82 | 141 |
| Net Cash Inflow / Outflow | -4 | -0 | -0 | 2 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 2 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.45 | 2.9 | 4.42 | 4.24 |
| CEPS(Rs) | 0.61 | 3.15 | 4.66 | 4.4 |
| DPS(Rs) | 0.07 | 0.26 | 0.21 | 0 |
| Book NAV/Share(Rs) | 6.03 | 8.87 | 17.2 | 25.49 |
| Core EBITDA Margin(%) | 5.32 | 15.26 | 17.08 | 17.67 |
| EBIT Margin(%) | 5.93 | 15.74 | 17.26 | 18.06 |
| Pre Tax Margin(%) | 1.97 | 10.3 | 13.07 | 12.03 |
| PAT Margin (%) | 1.39 | 8.17 | 9.52 | 8.5 |
| Cash Profit Margin (%) | 1.92 | 8.88 | 10.04 | 8.82 |
| ROA(%) | 1.32 | 6.96 | 8.67 | 6.5 |
| ROE(%) | 7.39 | 38.88 | 35.43 | 20.5 |
| ROCE(%) | 13.52 | 33.41 | 35.67 | 27.21 |
| Receivable days | 280.19 | 255.47 | 193.61 | 218.84 |
| Inventory Days | 24.74 | 23.6 | 20.06 | 22.05 |
| Payable days | 259.74 | 348.85 | 279.77 | 292.25 |
| PER(x) | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.2 | 0.27 | 0.17 | 0.24 |
| EV/Core EBITDA(x) | 3.12 | 1.66 | 0.96 | 1.33 |
| Net Sales Growth(%) | 0 | 10.56 | 49.9 | 16.53 |
| EBIT Growth(%) | 0 | 193.56 | 64.44 | 21.87 |
| PAT Growth(%) | 0 | 549.98 | 74.68 | 3.99 |
| EPS Growth(%) | 0 | 550.04 | 52.58 | -4.08 |
| Debt/Equity(x) | 1.33 | 1.18 | 0.63 | 0.58 |
| Current Ratio(x) | 1.24 | 1.16 | 1.36 | 1.52 |
| Quick Ratio(x) | 1.14 | 1.1 | 1.29 | 1.45 |
| Interest Cover(x) | 1.5 | 2.89 | 4.12 | 3 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 |
| # | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 56.17 | 56.17 | 56.17 | 56.27 |
| FII | 4.07 | 2.39 | 1.6 | 1.11 |
| DII | 14.01 | 12.64 | 8.5 | 6.83 |
| Public | 25.75 | 28.81 | 33.73 | 35.79 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 14.49 | 14.49 | 14.49 | 14.51 |
| FII | 1.05 | 0.62 | 0.41 | 0.29 |
| DII | 3.61 | 3.26 | 2.19 | 1.76 |
| Public | 6.64 | 7.43 | 8.7 | 9.23 |
| Others | 0 | 0 | 0 | 0 |
| Total | 25.79 | 25.79 | 25.79 | 25.79 |
* The pros and cons are machine generated.
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