Vikran Engineering Secures EPC Contract Worth ₹3,517 Crore from NOPL

Vikran Engineering Limited has announced the acceptance of a substantial work order from NOPL Solar Projects Private Limited. The contract, valued at ₹3,517.98 crore, involves the development of a 969 MW AC solar power project across multiple locations in Maharashtra. 

Details of the New EPC Contract 

On June 26, 2026, Vikran Engineering Limited received a work order from NOPL Solar Projects Private Limited.  

The contract encompasses the design, engineering, procurement, supply, erection, testing, and commissioning of a 969 MW AC solar power project on a turnkey EPC basis.  

This project will be executed at various locations in Maharashtra, with a total contract value of ₹3,517.98 crore, inclusive of GST. 

The contract is set to be completed within 12 months. NOPL, a wholly-owned subsidiary of Vikran Engineering, awarded the contract, making it a related party transaction conducted on an arm's length basis. 

Cancellation of Previous Work Order 

Previously, Vikran Engineering had accepted a work order from Onix Renewable Limited on December 23, 2025, for a 600 MW project valued at ₹2,035.26 crore.  

Approximately ₹388.67 crore worth of work had been executed under this arrangement. However, following the acquisition of a 100% equity stake in NOPL, the project execution structure was realigned. 

Consequently, the remaining order value of ₹1,893.26 crore was mutually cancelled. The EPC works will now be executed directly under the new work order from NOPL, as confirmed by a letter dated June 23, 2026, from Onix Renewable Limited to NOPL and Vikran Engineering. 

Project Execution Continuity Under Revised Pact  

This restructuring of contractual arrangements is not expected to have any adverse impact on Vikran Engineering's operations, financial position, or business prospects. The company continues to execute the EPC works for the project under the revised contractual arrangement with NOPL. 

Read More: India's Active Credit Card Base Tops 120 Million in May; Spending Reaches ₹2.02 Lakh Crore! 

Vikran Engineering Share Price Performance 

As of June 25, 2026, at 3:30 PM, Vikran Engineering share price on NSE was closed at ₹70.24, down by 1.28% from the previous closing price. 

Conclusion 

Vikran Engineering Limited's acceptance of a ₹3,517.98 crore EPC contract from NOPL for a 969 MW solar project in Maharashtra follows the cancellation of a previous work order with Onix Renewable Limited. This restructuring aligns with the company's acquisition of NOPL. 

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.