Vikran Engg. Q1 FY27 Earnings Call — Analysis (NSE: VIKRAN)
Vikran Engineering posts strong standalone Q1FY27 with 28% revenue growth, driven by solar EPC ramp-up, while NOPL consolidation obscures consolidated profitability.
Result quality: stable — Steady quarter. Management sentiment: neutral.
The take
Q1FY27 Standalone Revenue from Operations ₹204 Cr ( +28.2% YoY ) .
Results
Standalone revenue ₹204 Cr (+28% YoY), EBITDA ₹28 Cr (+24% YoY, margin 13.7%), PAT ₹17.5 Cr (+210% YoY); consolidated revenue ₹141.6 Cr, EBITDA ₹11.3 Cr (margin 8%), PAT ₹4 Cr due to NOPL subsidiary consolidation.
Financial highlights
| Metric | Value | Change | Basis |
|---|---|---|---|
| Standalone Revenue from Operations | ₹204 Cr | +28.2% | yoy · Q1FY27 |
| Standalone EBITDA | ₹28 Cr | +23.7% | yoy · Q1FY27 |
| Standalone EBITDA Margin | 13.7% | point_in_time · Q1FY27 |
Guidance
FY27 standalone revenue guided at ₹2,200–2,500 Cr, with NOPL contributing ~₹1,500 Cr; financial closure for NOPL expected in Q2FY27; debtor days seen at peak and improving through FY27.
Key themes
Solar EPC-led revenue surge with developer transition
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