Vikran Engineering Wins Rs 2,035 Crore Solar EPC Mandate From Onix Renewables

Vikran Engineering Limited has notified the stock exchanges that it has accepted a large work order from special purpose vehicle Onix Renewables Limited for 600 MW AC of solar plant development in Maharashtra. The mandate covers complete EPC execution, including design, engineering, procurement, supply, erection, testing and commissioning of solar PV modules and inverters on a turnkey basis.

Key Commercial Parameters
Contract value is indicated at Rs 2,035.26 crore excluding GST, with the total including all taxes and levies assessed at Rs 2,218.46 crore. The work is fully domestic in nature and classified as an EPC contract, providing Vikran Engineering with robust revenue visibility over the next financial year.

Execution Tenure And Scope
The project is to be executed within 12 months from the work-order date, with plants to be developed at multiple sites across Maharashtra under AC configuration of 600 MW. The contract includes end‑to‑end responsibilities, from detailed design and equipment procurement through erection and grid‑ready commissioning.
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Governance And Strategic Impact
The disclosure has been made under Regulation 30 of SEBI’s Listing Regulations read with the SEBI Master Circular dated November 11, 2024, underscoring its materiality for investors. The order deepens Vikran Engineering’s presence in utility‑scale solar EPC, building on recent Maharashtra wins and aligning with India’s expanding renewable energy ambitions.
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Sources: BSE Corporate Filing – Vikran Engineering Limited