What we do Vikran Engineering Ltd is a fast-growing Indian EPC company specializing in Power Transmission & Distribution, Water Infrastructure, Railway Electrification, and Solar EPC projects. |
Founded in 2,008 |
Market share Leading player in Power T&D and growing rapidly in Solar EPC and Water sectors with ₹915.8 Cr revenue in FY25 and a ₹4,700 Cr order book in 2026. |
Problem solved Provides end-to-end infrastructure solutions enabling efficient power distribution, clean water supply, and railway electrification addressing critical infrastructure gaps. |
Top clients or who we serve Serves governments, public sector undertakings, and private companies across India with growing international ambitions focusing on B2B EPC contracts. |
Key management Rakesh Ashok Markhedkar (Promoter & CMD) with 34+ years EPC experience; supported by a strong leadership team from top institutes like BITs Pilani, IIM Bangalore, IIM Calcutta. |
Our journey and innovations Founded as a private company in 2008, converted to public in 2024, expanded across sectors with notable projects in power substations, smart metering, water, solar, and railways. |
Where we operate Pan-India presence with projects in over 22 states; exploring expansion into Middle East and Africa markets. |
Top products or what we offer EPC services for high-voltage power lines and substations, water treatment plants, railway electrification, and solar power projects up to 2 GWp. |
Top brands Power Transmission & Distribution EPC: #1 in segment project completions; Water Infrastructure under Jal Jeevan Mission; Solar EPC with large-scale orders; Railway Electrification projects. |
Raw materials needed Electrical equipment, cables, transformers, civil construction materials, solar panels, and water treatment components. |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue largely project-based (cyclical) but with potential recurring EPC services and maintenance contracts in power and railways sectors. |
Our industry position Among top EPC firms in India’s power transmission segment with fast-growing operations in solar and water infrastructure sectors. |
Financial highlights FY25 revenue ₹915.8 Cr, net profit ₹77.8 Cr, EBITDA margin 17.5%; order book above ₹4,700 Cr as of Feb 2026. |
Geographical revenue split Majority revenue from Indian markets with plans to enter Middle East and African markets for diversification. |
Order book Robust order book of ₹4,986 Cr with 86% in Power T&D & Solar, 13% Water, 1% Railway as of Feb 2026. |
Whats driving growth Strong government infrastructure spending, expansion in solar EPC, water projects under Jal Jeevan Mission, and rising railway electrification demand. |
Our future plans Scaling solar EPC to 2 GWp projects, expanding railway and metro infrastructure, entering international EPC markets in Middle East and Africa. |
Our green promise Focus on renewable solar projects and water sustainability aligning with national green energy and Jal Jeevan missions. |
Our people and values Experienced promoters with 70+ years combined sector experience, professional management, strong supplier network, and quality-focused culture. |
Key challenges ahead Project execution risks, competitive bidding pressures, working capital management, and geographic expansion uncertainties. |
Interesting facts Completed India’s first 765 kV substation bays; awarded for fastest project completions; diversified into solar EPC recently. |
Risks and strategy Mitigates risks via disciplined bidding, technology use, asset-light model, and geographic/business vertical diversification. |
