Vikran Group

Thane, India Founded: 2008 • Age: 18 yrs Listed
Electricity is supplied with integrated services for power infrastructure projects.

About Vikran Group

Vikran Group is a publicly listed company based in Thane (India) founded in 2008 by Rakesh Markhedkar. Electricity is supplied with integrated services for power infrastructure projects. Vikran Group has raised $18.47 million across 3 funding rounds from investors including Everest Finance and Investment, Samedh Trinity Partners and Ashish Kacholia. The company has 1,045 employees. Vikran Group was last valued at $84.86 million in January 2024. Its website vikrangroup.com draws about 14 thousand monthly visits. Its Indian entity Vikran Engineering Limited reported revenue of β‚Ή1,266 Cr. Vikran Group offers products and services including Power Transmission Services and Solar Power Solutions. Its focus areas include Energy.

Company details

Founded in 2008 and based in Thane, India, operations are focused on the power sector. Electricity is supplied, alongside end-to-end services for infrastructure projects, including power transmission and EHV substations. Design, supply, civil works, construction, testing, and commissioning are handled comprehensively to support these activities.

  • Headquarters Thane, India
  • Employees 1,045
  • Founders Rakesh Markhedkar
  • Stage Public
  • Sectors
    Energy & Utilities
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Website vikrangroup.com
  • Social LinkedIn Facebook
  • Legal Name Vikran Engineering Limited
Key Metrics
  • Market Cap
    ₹1,410 Cr

    VIKRAN · NSE

  • Share Price
    ₹54.19

    -0.90% today

  • Revenue
    ₹1,249 Cr

    FY 2025-26 · +36.4% YoY

  • EBITDA
    ₹177 Cr

    Margin 14.2%

  • Net Profit
    ₹92.54 Cr

    FY 2025-26 · +19.1% YoY

  • P/E (TTM)
    16.6x

    P/B 1.1x

  • ROE
    10.8%

    ROCE 16.7%

  • Debt / Equity
    0.34

    Interest cover 40.2x

  • Total Equity Funding
    $18.47M (USD)

    in 3 rounds

  • Latest Funding Round
    $5.99M (USD), Series B

    Jul 2024

  • Investors
  • Employee Count
    1,045

Products & Services of Vikran Group

Vikran Group offers a comprehensive portfolio of products and services, including Power Transmission Services and Solar Power Solutions.

Power Transmission Services
Infrastructure Services

High-voltage transmission lines and substations up to 765 kV are constructed by Vikran Engineering to ensure uninterrupted energy flow.

Solar Power Solutions
Renewable Energy Services

Turnkey solar PV projects up to 100MWp are delivered by Vikran Engineering, focusing on efficient and sustainable energy solutions.

Funding Insights of Vikran Group

Vikran Group has successfully raised a total of $18.47M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $5.99 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $18.47M
  • Total Rounds 3
  • Last Round Series B β€” $5.99M
  • First Round $2.68M

    (Mar 2009)

  • Investors Count 28

All 3 funding rounds of Vikran Group with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jul 2024$5.99MSeries B–Pantomath Group
–
Jan 2024$9.8MSeries B$84.86M–
Mar 2009$2.68MSeries A$2.86MAbhishek Polyplast
Valuation history
DateValuationStage
Jan 2024$84.86Mβ€’β€’β€’β€’β€’β€’β€’β€’
Mar 2009$2.86Mβ€’β€’β€’β€’β€’β€’β€’β€’

Last known valuation $84.86M (Jan 2024). 28 investors in total: 27 institutional and 1 angel.

Investors in Vikran Group

Vikran Group has secured backing from 28 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Everest Finance and Investment, Samedh Trinity Partners and Ashish Kacholia.

All
Venture Fund
Institutional
Angel
InvestorDescriptionFounded YearDomainLocation
Growth capital is provided to companies via private equity investments.
Mumbai, India
Growth capital is provided to companies by Samedh Trinity Partners.
Mumbai, India
Investment services are provided to emerging pre-IPO enterprises.
pantomathamc.comMumbai, India
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Investor details for Vikran Group

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Board of directors of Vikran Engineering Limited (Vikran Group)

Vikran Engineering Limited is the primary company behind Vikran Group. The board of Vikran Engineering Limited currently have 6 directors; the longest-serving is Avinash Ashok Markhedkar, appointed in 2015. 16 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Avinash Ashok Markhedkar
DIN 03089201
Whole-time director02 Nov 201511 yrsVikran Engineering Limited
Rakesh Ashok Markhedkar
DIN 07009284
Managing Director20 Nov 201510 yrs 11 moVikran Engineering Limited
Nakul Markhedkar
DIN 07028044
Whole-time director01 Feb 20242 yrs 9 moVikran Engineering Limited
Priti Paras Savla
DIN 00662996
Director24 Sep 20242 yrs 1 moVikran Engineering Limited
Rakesh Kumar Sharma
DIN 02166966
Director24 Sep 20242 yrs 1 moVikran Engineering Limited
Arun Bhagwan Unhale
DIN 07131173
Director24 Sep 20242 yrs 1 moVikran Engineering Limited

People of Vikran Group

1 people are tracked at Vikran Group (1 in leadership); the tracked headcount is 1,045.

NameRoleGroup
Founder & Managing DirectorLeadership
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IPO & Listings of Vikran Group

Vikran Group is a publicly listed company on the NSE with ticker symbol VIKRAN in India, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date03 Sep 2025
  • Listed onBSE: 544496 · NSE: VIKRAN
  • Listed entityVikran Engineering Limited
  • Exchange sectorIndustrial services
  • ISININE01R501028
  • Share price₹60.92 (-2.93% on the day) · 2026-10-14
  • Market capitalisation₹1,627 Cr
  • Price to earnings17.4
  • EPS (diluted, trailing year)₹3.49
  • Dividend yield0.32%
  • Volume (last session)3,463,565

Financials of Vikran Group

Exchange-reported figures of Vikran Engineering Limited, the listed company behind Vikran Group (NSE: VIKRAN).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹1,249 Cr
+36.4% YoY
EBITDA
₹177 Cr
+9.6% YoY
Profit After Tax
₹92.54 Cr
+19.1% YoY
Net Worth
₹1,237 Cr
+164.5% YoY
Total Assets
₹1,542 Cr
+106.7% YoY
Total Debt
₹301 Cr
+9.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25
Income statement
Revenue1,249916
Revenue growth+36.4%-
EBITDA177162
EBITDA margin+14.2%+17.7%
Profit before tax121110
Net profit92.5477.72
Net profit margin+7.4%+8.5%
EPS (β‚Ή)3.564.24
Balance sheet
Total assets1,542746
Net worth1,237468
Total debt301274
Cash & bank22067.07
Net working capital1,432653
Cash flow
Cash from operations(437)(129)
Cash from investing(156)(9.12)
Cash from financing624141
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Revenue212142647266176159355
Revenue growth (YoY)+20.2%-11.0%+82.2%----
Other income3.8710.196.806.502.990.673.95
EBITDA22.2611.2892.1933.6425.4422.6567.85
EBITDA margin+10.5%+8.0%+14.2%+12.6%+14.4%+14.2%+19.1%
Depreciation2.731.091.031.160.590.630.64
Interest20.6014.9520.0313.0618.0515.3015.46
Profit before tax2.805.4377.9325.929.797.3955.70
Tax0.051.4421.935.010.651.7417.94
Net profit2.753.9956.0020.919.145.6537.76
EPS (β‚Ή)0.110.152.170.810.440.312.06
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,249916786524476336441
Revenue growth+36.4%+16.5%+49.9%+10.3%+41.4%-23.8%-
EBITDA17716213464.5433.3336.2854.09
EBITDA margin+14.2%+17.7%+17.1%+12.3%+7.0%+10.8%+12.3%
Profit before tax12111010153.9814.3723.0139.17
Net profit92.5477.7274.7741.8310.4416.5834.29
Net profit margin+7.4%+8.5%+9.5%+8.0%+2.2%+4.9%+7.8%
EPS (β‚Ή)3.564.242,253.951,477.24355.79569.93886.34
Balance sheet
Total assets1,542746478290225213151
Net worth1,23746829113192.9483.4166.86
Total debt30127418415792.1597.6865.71
Cash & bank22067.0749.9514.9331.2637.7736.70
Net working capital1,432653414209193192141
Cash flow
Cash from operations(437)(129)(66.48)5.5523.35(11.71)19.57
Cash from investing(156)(9.12)(15.94)(14.32)(8.23)(7.28)2.05
Cash from financing62414182.378.75(21.63)20.06(23.33)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue220204647266176159355265
Revenue growth (YoY)+24.9%+28.2%+82.2%+0.5%+10.7%+17.0%--
Other income12.2511.186.806.502.990.673.951.25
Total expenses200176555233151137288200
EBITDA20.1228.0292.1933.6425.4422.6567.8565.16
EBITDA margin+9.1%+13.7%+14.2%+12.6%+14.4%+14.2%+19.1%+24.6%
Depreciation0.881.091.031.160.590.630.640.72
Interest21.3415.0420.0313.0618.0515.3015.4620.33
Profit before tax10.1523.0777.9325.929.797.3955.7045.36
Tax2.285.5621.935.010.651.7417.9411.68

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 15 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Revenue212142647266176159355
Revenue growth (YoY)+20.2%-11.0%+82.2%----
Other income3.8710.196.806.502.990.673.95
EBITDA22.2611.2892.1933.6425.4422.6567.85
EBITDA margin+10.5%+8.0%+14.2%+12.6%+14.4%+14.2%+19.1%
Depreciation2.731.091.031.160.590.630.64
Interest20.6014.9520.0313.0618.0515.3015.46
Profit before tax2.805.4377.9325.929.797.3955.70
Tax0.051.4421.935.010.651.7417.94
Net profit2.753.9956.0020.919.145.6537.76
EPS (β‚Ή)0.110.152.170.810.440.312.06
ParticularsFY 2025-26FY 2024-25
Revenue1,249916
Revenue growth+36.4%-
Other income16.966.51
Total expenses1,072754
Employee cost83.8367.63
EBITDA177162
EBITDA margin+14.2%+17.7%
Depreciation3.412.97
Interest69.9355.16
Profit before tax121110
Tax29.3332.38
Net profit92.5477.72
Net profit margin+7.4%+8.5%
EPS (β‚Ή)3.564.24
ParticularsFY 2025-26FY 2024-25
Equity & liabilities
Share capital25.7918.36
Reserves & surplus1,212450
Shareholders' funds (net worth)1,237468
Minority interest0.000.00
Secured loans278266
Unsecured loans23.128.33
Total debt301274
Total liabilities1,542746
Assets
Gross block38.3226.81
Net block21.4612.81
Capital work in progress0.000.00
Investments1.171.13
Inventories79.9259.94
Sundry debtors1,013605
Cash & bank balances22067.07
Loans & advances1,081530
Total current assets2,3931,262
Total current liabilities961609
Net working capital1,432653
Total assets1,542746
ParticularsFY 2025-26FY 2024-25
Opening cash2.500.08
Net cash from operating activities(437)(129)
Net cash from investing activities(156)(9.12)
Net cash from financing activities624141
Net change in cash30.772.42
Closing cash22067.07
ParticularsFY 2025-26FY 2024-25
Growth
Sales growth+36.4%-
EBITDA growth+9.6%-
PBT growth+9.8%+9997.0%
Net income growth+19.1%-
Profitability & leverage
Net income margin+7.3%+8.5%
Return on capital employed+16.7%+22.2%
Return on net worth+10.8%+16.6%
Debt / equity0.340.59
Long-term debt / equity0.050.07
Interest cover40.1934.73
Efficiency & per share
Fixed asset turnover38.3634.16
Inventory turnover17.8715.28
Debtors turnover1.541.51
EPS (β‚Ή)3.564.24
Dividend per share (β‚Ή)0.180.21
Book value per share (β‚Ή)47.9825.48
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue220204647266176159355265
Revenue growth (YoY)+24.9%+28.2%+82.2%+0.5%+10.7%+17.0%--
Other income12.2511.186.806.502.990.673.951.25
Total expenses200176555233151137288200
EBITDA20.1228.0292.1933.6425.4422.6567.8565.16
EBITDA margin+9.1%+13.7%+14.2%+12.6%+14.4%+14.2%+19.1%+24.6%
Depreciation0.881.091.031.160.590.630.640.72
Interest21.3415.0420.0313.0618.0515.3015.4620.33
Profit before tax10.1523.0777.9325.929.797.3955.7045.36
Tax2.285.5621.935.010.651.7417.9411.68
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,249916786524476336441
Revenue growth+36.4%+16.5%+49.9%+10.3%+41.4%-23.8%-
Other income16.966.515.4921.671.852.371.76
Total expenses1,072754652460442300387
Employee cost83.8367.6358.9640.5331.8325.0220.45
EBITDA17716213464.5433.3336.2854.09
EBITDA margin+14.2%+17.7%+17.1%+12.3%+7.0%+10.8%+12.3%
Depreciation3.412.974.053.702.130.740.65
Interest69.9355.1634.9328.5318.6814.9016.03
Profit before tax12111010153.9814.3723.0139.17
Tax29.3332.3825.9211.144.056.4713.44
Net profit92.5477.7274.7741.8310.4416.5834.29
Net profit margin+7.4%+8.5%+9.5%+8.0%+2.2%+4.9%+7.8%
EPS (β‚Ή)3.564.242,253.951,477.24355.79569.93886.34
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital25.7918.360.330.290.290.290.29
Reserves & surplus1,21245029113192.6583.1266.57
Shareholders' funds (net worth)1,23746829113192.9483.4166.86
Secured loans27826617012885.7094.5563.09
Unsecured loans23.128.3314.4528.946.453.132.62
Total debt30127418415792.1597.6865.71
Total liabilities1,542746478290225213151
Assets
Gross block38.3226.8124.7122.7418.8511.8310.32
Net block21.4612.8111.8713.9514.049.158.37
Capital work in progress0.000.000.000.000.001.550.17
Investments1.181.130.900.8111.617.190.43
Inventories79.9259.9450.7235.6632.1431.4848.93
Sundry debtors1,013605464370369247166
Cash & bank balances22067.0749.9514.9331.2637.7736.70
Loans & advances1,08153033121134.4135.2225.12
Total current assets2,3931,262896632467352277
Total current liabilities961609482423274160135
Net working capital1,432653414209193192141
Total assets1,542746478290225213151
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash2.500.080.120.1437.7736.7038.41
Net cash from operating activities(437)(129)(66.48)5.5523.35(11.71)19.57
Net cash from investing activities(156)(9.12)(15.94)(14.32)(8.23)(7.28)2.05
Net cash from financing activities62414182.378.75(21.63)20.06(23.33)
Net change in cash30.762.42(0.04)(0.02)(6.51)1.07(1.71)
Closing cash22067.0749.9514.9331.2637.7736.70
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+36.4%+16.5%+49.9%+10.3%+41.4%-23.8%-
EBITDA growth+9.6%+20.5%+108.0%+93.6%-8.1%-32.9%-
PBT growth+9.8%+9.4%+86.7%+275.6%-37.6%-41.3%+9997.0%
Net income growth+19.1%+4.0%+78.8%+300.7%-37.0%-51.7%-
Revenue CAGR (3Y)+33.6%+24.4%+32.7%+5.9%---
EBITDA CAGR (3Y)+40.1%+69.3%+54.7%+6.1%---
Profitability & leverage
Net income margin+7.3%+8.5%+9.5%+8.2%+2.2%+4.9%+5.8%
Return on capital employed+16.7%+27.0%+35.3%+32.1%+15.1%+20.8%+51.3%
Return on net worth+10.8%+20.5%+35.4%+38.2%+11.7%+22.0%+63.5%
Debt / equity0.340.600.811.111.081.091.14
Long-term debt / equity0.050.060.110.250.150.040.02
Interest cover40.1934.7326.8346.8959.8741.9230.00
Efficiency & per share
Fixed asset turnover38.3635.5533.1325.2131.0030.3844.44
Inventory turnover17.8716.5518.2015.4714.958.3711.44
Debtors turnover1.541.711.891.421.541.633.35
EPS (β‚Ή)3.564.242,253.951,477.24355.79569.93886.34
Dividend per share (β‚Ή)0.180.21105.00135.0035.0027.500.00
Book value per share (β‚Ή)47.9825.488,773.494,521.903,200.432,872.132,302.38

Timeline of Vikran Group

5 dated milestones of Vikran Group across 17 years, from founding to its latest funding, stage changes and deals.

  1. Founded Vikran Group is founded.
  2. Funding First funding round of $2.7M.
  3. Milestone Reaches Minicorn status.
  4. Funding Latest funding round, Series B, of $6.0M.
  5. IPO Lists on the stock exchange (IPO).

Web traffic of Vikran Group

The website of Vikran Group (vikrangroup.com) receives about 13.8K visits a month.

  • Monthly visits
    13.8K

    ▲ 99.4% vs previous month

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Top companies in Power Transmission & Distribution

3 companies that operate in the same segment as Vikran Group (Power Transmission & Distribution) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Power distribution and secure services in Telangana.
2014Hyderabad, Telangana, IndiaUSD 5.41 B19,439
Single- and three-phase transformers are manufactured in Mumbai.
1993Mumbai, Maharashtra, IndiaUSD 114.37 M618
Electricity transmission utility projects are developed in India.
2010Mumbai, Maharashtra, IndiaUSD 167.58 MUSD 603.94 M
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Related news about Vikran Group

VIKRAN: Q2 EBITDA 201.2M RUPEES VS 254.3M (YOY); Q2 EBITDA MARGIN 9.14% VS 14.43% (YOY)
Exchange Update β€’ 10 days ago
VIKRAN: Q2 REVENUE 2.2B RUPEES VS 1.76B (YOY)
Exchange Update β€’ 10 days ago
VIKRAN: Q2 STANDALONE NET PROFIT 78.7M RUPEES VS 91.4M (YOY)
Exchange Update β€’ 10 days ago
Vikran Engineering: Subsidiary NOPL Obtains ₹2,941.19 Crore Loan From IREDA For 969 MW Solar Project; Total Project Cost Estimated At ₹4,201.70 Crore; EPC Contract Valued At ₹3,517.98 Crore Awarded To Vikran.
Exchange Update β€’ 1 month ago
Vikran Engineering: Wins ₹153.76 Crore Contract For 400 KV AIS Extension Substation Package SS-136T
Exchange Update β€’ 1 month ago
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Frequently Asked Questions about Vikran Group

Vikran Group was founded in 2008 and raised its 1st funding round 1 year after it was founded.

Vikran Group is headquartered in Thane, India. It is registered at Thane, Maharashtra, India.

Vikran Group is a funded company, having raised a total of $18.47M across 3 funding rounds to date. The company's 1st funding round was a Series A of $2.68M, raised on Mar 2009.

Vikran Group has 1,045 employees.

The primary company behind Vikran Group, Vikran Engineering Limited, reported revenue of β‚Ή1,266 Cr for FY 2026, up 36% year on year.

Founded in 2008 and based in Thane, India, operations are focused on the power sector. Electricity is supplied, alongside end-to-end services for infrastructure projects, including power transmission and EHV substations. Design, supply, civil works, construction, testing, and commissioning are handled comprehensively to support these activities.

Vikran Group offers Power Transmission Services and Solar Power Solutions.

Yes, Vikran Group is publicly traded on NSE under the ticker symbol VIKRAN.

Vikran Group has 28 investors. Key investors include Everest Finance and Investment, Samedh Trinity Partners, Ashish Kacholia, Deb Suppliers And Traders, and Faristafinancialconsultants.

The valuation of Vikran Group is $84.86M as of Jan 2024.

Vikran Group operates through Vikran Engineering Limited.

The legal entities of Vikran Group currently have 8 directors, including Avinash Ashok Markhedkar, Rakesh Ashok Markhedkar, Priti Paras Savla and others.

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