Vikran Engineering is a fast-growing EPC company in India, specializing in energy, water, and railway infrastructure. It provides end-to-end turnkey services, including design, supply, installation, and commissioning. With a strong presence across 11 states and a diverse client base, including government and private sectors, the company is well-positioned for continued growth in the medium term.

Business Model

Vikran Engineering follows a turnkey EPC model, providing complete solutions across the power transmission and distribution, water infrastructure, and railway infrastructure sectors. Their asset-light model enables them to execute projects efficiently by renting equipment from third-party lessors, reducing fixed costs, and optimizing logistics. The company focuses on timely project execution, in-house design and engineering, and high-quality standards to ensure that projects are delivered on schedule and within budget. This model supports efficient cost management and allows the management to focus on core operations.

Project Portfolio

Vikran Engineering has successfully executed 44 projects across 11 states, with a total executed contract value of ₹18,958.14 million as of August 31, 2024. The company’s key projects include:

1. Power Transmission and Distribution:

High-voltage transmission lines (up to 765 kV) and substations (up to 400 kV). Successful projects such as the 765 kV AIS bays/400 kV bays in Raipur, and 400 kV Bina substation with an 80 MVA Reactor in Madhya Pradesh. Execution of 30,000 smart metering connections under this vertical.

2. Water Infrastructure:

Turnkey solutions for surface and underground drinking water projects, water distribution networks, and rainwater harvesting systems.

3. Railway Infrastructure:

Projects related to railway electrification, including overhead electrification and signalling systems. 132 kV traction substations and 220 kV underground EHV cable works as part of railway electrification.

Competitive Strengths

i) Diversified Revenue Streams: Vikran Engineering’s diversified order book across multiple verticals (power, water, railway) helps mitigate sector-specific risks and ensures long-term growth potential.
ii) Pan-India Presence: With operations in 22 states, the company has a wide geographical footprint, contributing to a strong national presence.
iii) Efficient Cost Structure: The asset-light model reduces fixed asset investment, enhancing the company’s ability to manage costs and execute projects efficiently.
iv) Experienced Management Team: The leadership team, led by Rakesh Ashok Markhedkar, brings deep domain expertise in the EPC sector, contributing to the company’s operational excellence and strategic decision-making.

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