Vikran Engineering Limited has informed the Exchange regarding 'Investor Presentation'.

Date: 10th November 2025

To, The Secretary BSE Limited Corporate Relationship Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001. (Scrip Code: Equity - 544496)

Dear Sir/Madam,

To, The Secretary National Stock Exchange of India Limited Listing Department, Exchange Bandra (E), Mumbai –400051. (Scrip Symbol: VIKRAN)

Plaza, Bandra-Kurla Complex,

Sub: Copy of Investor Presentation- Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

Pursuant to Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations, 2015’), please find enclosed herewith copy of “Investor Presentation” for the investors/analysts call scheduled on Tuesday, November 11, 2025, at 12:30 PM (IST).

Please take the above information on record.

This is for your information and records.

Thanking You.

Yours faithfully,

FOR VIKRAN ENGINEERING LIMITED

__________

Kajal Rakholiya Company Secretary and Compliance Officer

Place: Thane

Encl.: as above

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

SAFE HARBOR

This presentation has been prepared by Vikran Engineering Limited, solely to provide information about the Company to its stakeholders. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

The information contained in this presentation is only current as of its date. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements", including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal and social conditions in India.

Please note that this presentation is based on the publicly available information including but not limited to Company’s website and Annual Reports.

This communication is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Please note that investments in securities are subject to risks including loss of principal amount.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

TABLE OF CONTENTS

Financial & Operational Highlights

Company Overview

Business Segments

Industry Overview

Way ahead

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Financial

Highlights

MANAGEMENT COMMENT

“

“The first half of FY26 has been a period of steady growth for us, with healthy YoY improvement in revenue and a notable expansion in EBITDA margins. The performance reflects our continued focus on operational discipline, efficient execution, and prudent cost management across projects.

We achieved strong order inflows, particularly in the Solar EPC segment, where we secured major projects worth ₹354 crore from Ellume Energy MH Solar One and ₹1,642 crore from Carbonminus Maharashtra One. These wins mark a key milestone in our renewable energy foray and significantly enhance our growth visibility. Following our successful IPO, our consolidated order book now exceeds ₹4,000 crore, providing healthy execution visibility for the next two years and reinforcing our position as a growing multi-sector EPC player.

Rakesh Ashok Markhedkar Promoter & CMD

The second half of the year contributes a larger share of EPC execution, and we expect this trend to continue in FY26 as well. With a healthy and diversified order pipeline and a growing presence across key infrastructure segments, we are well-positioned to undertake larger and higher-value projects in the coming quarters. Our robust execution capabilities, combined with a consistent focus on timely delivery and operational excellence, continue to strengthen client trust and enhance our project delivery performance.

Furthermore, as we work towards expanding our footprint into international markets, particularly in Africa and the Middle East, we remain confident of achieving sustained growth, driving geographical diversification, and further consolidating our market position in the EPC industry”

“

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FINANCIAL SNAPSHOT

Revenue from Operations

EBITDA & Margins

14%

176

159

8%

25

13

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

Revenue from Operations

335

295

EBITDA & Margins

14%

9%

27

48

Profit After Tax

9

2

Q2 FY25

Q2 FY26

Profit After Tax

15

6

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

CONSOLIDATED PROFIT & LOSS STATEMENT

Particulars (₹ Cr)

Q2 FY26

Q2 FY25

Revenue from operations

Other income

Total income

Cost of materials consumed

Project-related expense

Employee benefits expense

Other expenses

EBITDA*

EBITDA Margin (%)

Depreciation and amortisation

Finance Cost

Profit before tax

Tax

Profit After Tax

PAT Margin (%)

*EBITDA is calculated excluding Other Income

176.3

3.0

179.3

101.1

6.9

22.2

20.6

25.4

14.4%

0.6

18.0

9.8

0.7

9.1

5.2%

159.2

1.1

160.4

101.3

19.1

15.2

10.8

12.8

8.0%

0.8

10.1

3.0

1.0

2.1

1.3%

YoY

10.7%

11.8%

98.9%

221.5%

338.0%

H1 FY26

H1 FY25

335.4

3.7

339.1

154.6

57.8

40.2

34.7

48.1

14.3%

1.2

33.4

17.2

2.4

14.8

4.4%

295.3

1.3

296.6

176.5

38.3

30.6

22.7

27.2

9.2%

1.6

17.8

9.1

2.8

6.3

2.1%

YoY

13.6%

14.3%

76.6%

88.4%

132.9%

FY25

915.8

6.5

922.4

483.7

160.4

67.6

43.9

160.2

17.5%

3.0

53.6

110.2

32.4

77.8

8.5%

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CONSOLIDATED BALANCE SHEET

Particulars (₹ Cr)

Property, plant and equipment

Investment properties

Intangible assets

Right-of-use assets

Other financial assets

Deferred tax assets (net)

Non-current tax assets (net)

Other non-current assets

Total non-current assets

Inventories

Investments

Trade receivables

Cash and cash equivalents

Bank balances other than above

Loans

Other financial assets

Contract assets

Other current assets

Total current assets

Total assets

Sep-25

Mar-25

Particulars (₹ Cr)

8.7

2.1

0.2

1.4

24.7

26.2

2.4

13.5

79.1

64.1

1.2

613.0

180.1

395.7

3.5

6.3

553.2

73.6

1,890.7

1,969.8

9.0

2.1

0.2

1.5

20.7

15.2

1.8

11.9

62.5

59.9

1.1

634.3

2.5

64.6

2.0

11.5

466.4

49.8

1,292.2

1,354.7

Equity share capital

Other equity

Total Equity

Long – Term Borrowings

Lease liabilities

Provisions

Total Non - Current Liabilities

Borrowings

Lease liabilities

Trade payables

Other financial liabilities

Other current liabilities

Provisions

Current tax liabilities (net)

Total Current Liabilities

Total Equity and Liabilities

Sep-25

25.8

1,134.8

1,160.5

4.9

0.9

3.5

9.3

311.6

0.6

376.1

16.9

67.0

5.8

22.1

Mar-25

18.4

449.5

467.9

31.9

0.8

3.6

36.3

241.0

0.7

477.6

17.1

70.7

7.4

36.0

800.0

1,969.8

850.5

1,354.7

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CONSOLIDATED CASHFLOW STATEMENT

Particulars (₹ Cr)

H1FY26

H1FY25

Cashflow from Operating Activities

Cashflow from Investing Activities

Cashflow from Financing Activities

Net Change in Cash and Cash Equivalents

-166.6

-333.6

677.8

177.6

-89.9

3.8

91.5

5.4

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ORDER BOOK

₹ in Cr

As at September 30, 2025

As at March 31, 2025

As at September 30, 2024

Segment

Order Book

% Order Book

Order Book

% Order Book

Order Book

% Order Book

Power T&D

1,483.9

Water

Railway

Solar

Total

717.3

41.2

2.4

66.1%

32.0%

1.8%

0.1%

1,237.4

764.6

42.3

-

60.5%

37.4%

2.1%

-

1,224.2

836.8

43.9

-

58.2%

39.8%

2.1%

-

2,244.8

100.0%

2,044.3

100.0%

2,104.8

100.0%

Total Order Book as on 10th November 2025

Client Type mix in the Order Book

~₹ 4,000+ Cr**

32% Power Transmission & Distribution

18% Water & Railway Infrastructure

50% Solar

Private Sector, 61%

Order Book Segmentation by Client Type

Government, 26%

PSUs, 13%

**This includes two new orders In October and November 2025

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CONSOLIDATED ANNUAL PROFIT & LOSS STATEMENT

Particulars (₹ Cr)

Revenue from operations

Other income

Total income

Cost of materials consumed

Project-related expense

Employee benefits expense

Other expenses

EBITDA*

EBITDA Margins

Depreciation and amortisation

Finance Cost

Profit before tax

Tax

Profit After Tax

*EBITDA is calculated excluding Other Income

FY25

915.8

6.5

922.4

483.7

160.4

67.6

43.9

160.2

17.5%

3.0

53.6

110.2

32.4

77.8

FY24

785.9

5.5

791.4

385.0

167.8

59.0

41.0

133.3

17.0%

4.1

34.0

100.7

25.9

74.8

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CONSOLIDATED BALANCE SHEET

Particulars (₹ Cr)

Property, plant and equipment

Investment properties

Intangible assets

Right-of-use assets

Other financial assets

Deferred tax assets (net)

Non-current tax assets (net)

Other non-current assets

Total non-current assets

Inventories

Investments

Trade receivables

Cash and cash equivalents

Bank balances other than above

Loans

Other financial assets

Contract assets

Other current assets

Total current assets

Total assets

Mar-25

Mar-24

Particulars (₹ Cr)

Mar-25

Mar-24

9.0

2.1

0.2

1.5

20.7

15.2

1.8

11.9

62.5

59.9

1.1

634.3

2.5

64.6

2.0

11.5

466.4

49.8

1,292.2

1,354.7

8.6

2.1

0.2

0.9

25.7

8.8

3.9

13.1

63.3

50.7

0.9

463.9

0.1

49.9

0.0

3.1

289.2

38.8

896.5

959.8

Equity share capital

Other equity

Total Equity

Long – Term Borrowings

Lease liabilities

Provisions

Total Non - Current Liabilities

Borrowings

Lease liabilities

Trade payables

Other financial liabilities

Other current liabilities

Provisions

Current tax liabilities (net)

Total Current Liabilities

Total Equity and Liabilities

18.4

449.5

467.9

31.9

0.8

3.6

36.3

241.0

0.7

477.6

17.1

70.7

7.4

36.0

850.5

1,354.7

0.3

290.9

291.3

10.7

0.4

2.8

13.9

172.7

0.4

296.9

4.1

152.1

10.6

17.9

654.6

959.8

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Company

Overview

ABOUT THE COMPANY

One of India’s fast-growing, diversified EPC companies, providing concept-to-commissioning solutions across key infrastructure sectors

Diversified Presence

PAN India Presence 45 completed projects across 14 states; currently active in 16 states with 190+ project and store locations

Power Transmission & Distribution

Solar EPC Projects

Robust Order Book ~₹ 4,000+ Cr as of Nov 10, 2025

Water Infrastructure

Railway Electrification

Operational Efficiency Asset-light model, 3,500+ supplier network, and strong cost control

Experienced Leadership Promoters with over 70 years of cumulative industry experience, supported by a professional management team

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JOURNEY

2023

2024

2025

Serviced first order from NTPC Ltd. for a project in Kupwara, J&K

Special appreciation: Commissioning bays at Karnool, Raipur & Patiala Substation” by Power Grid Corp of India Ltd.

Secured 765 kV substation project from Power Grid Successfully listed on NSE and BSE Secured 1st solar EPC orders from Ellume Energy Secured largest order of ₹1,641 crore from Carbonminus Maharashtra One

2022

2020

Bagged first project in water infrastructure vertical under “PM Har Ghar Jal Yojana” in Madhya Pradesh; Received two rural water supply project in Uttar Pradesh.

• Secured an EPC order of 400 Kv-500 MVA reactors

including bay works from PowerGrid;

• Secured first overhead railway electrification order • Secured first 132 kV GIS substation order

2014

2015

2016

2018

Acquisition by Markhedkar Family in Nov - 2014

Received first Power Sector order in Madhya Pradesh

Received “Fastest Growing Indian Company Excellence Award-2016 in International Achievers Conference

Received Three Excellence award by Bihar Chief Minister within span of six months.

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OUR EXECUTIVE BOARD OF DIRECTORS AND KMPS

Experienced Promoters backed by Senior Leadership Team

Rakesh Ashok Markhedkar, Promoter & CMD • Experience of over 34 years in EPC project execution

• Has previously worked with Larsen and Toubro, Voltage

Engineering, EMCO, KEI Industries, ERA Infra Engineering, and Bajaj Electricals

• Bachelors in engineering (electrical) from Samrat Ashok

Technological Institute, Vidisha (M.P.), Barkatullah University

• Master degree in science in quality management from the

BITS Pilani, Rajasthan

• Participated in the General Management Programme for

Larsen and Toubro Limited conducted by the IIM Bangalore

Avinash Markhedkar, Whole Time Director • Holds Bachelor's degree in engineering (mechanical) from Samrat Ashok Technological Institute, Vidisha (M.P.), Barkatullah University and an MBA from Indira Gandhi National Open University.

• Program on leading and managing from IIM, Calcutta

• Over 33 years of experience; Had worked with companies

such as Grasim Cement and UltraTech Cement

Nakul Markhedkar, Whole Time Director • Holds a Bachelor's degree in technology (electronics and

communication engineering), from Manav Rachna International University

• Also held the position of procurement Director of the

Company and has over 9 years of experience

Ashish Bahety, Chief Financial Officer • A Associate member of The Institute of Chartered

Accountants of India, Diploma in business finance and MBA from the ICFAI University, B.Com. from MDSU, Ajmer, Diploma in Business Finance.

• Over 18 years of experience in Finance; previously

associated with R Kabra & Co., A.F. Ferguson & Co, QCS, CRISIL, NSL Sugars, Hindustan National Glass & Industries, S.V. Refineries and JMC Projects (India).

Dibyendu Ray, Chief Operating Officer

• Holds B.Tech. in Electrical Engineering from Jadavpur

University, a postgraduate certificate in general management from IIM Calcutta, and is registered as Chartered Engineer by the Engineering Council, UK

• Has 34 years of experience; worked with organisations such

as BARC, Siemens, Sterling and Wilson, and KEC International.

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BRIEF PROFILE OF INDEPENDENT DIRECTORS

Rakesh Sharma, Independent Director • He holds a Bachelor’s degree in Engineering (Mechanical) from

Punjab Engineering College, Punjab Engineering College, Punjab University and a Master’s degree in marketing management from Jamnalal Bajaj Institute of Management Studies, University of Bombay

• He has worked at TATA Iron and Steel Company Limited,

ACC- Babcock Limited, The Associated Cement Companies Limited, Punj Llyod Private Limited, H.M. Electricals Private Limited and Larsen & Tourbo Limited. He has approximately 34 years of experience

Arun Unhale, Independent Director • He holds a Bachelor’s degree in Science (Agriculture) from

Mahatma Phule Agricultural University and Bachelor’s degree in Law (General) from Shivaji University

• He also holds Master’s degree in Law from Shivaji University and Master’s degree in master’s degree in arts (History) from Shivaji University. He joined employment under Indian Administrative Services (IAS) in 1984 and retired in 2023. He has an experience of over 39 years.

Priti Savla, Independent Director

•

•

She holds a Bachelor’s degree in Commerce (Financial Accounting and Auditing) from University of Mumbai. She is an associate member of The Institute of Chartered Accountants of India.

She is a practicing Chartered Accountant since 2002. She has an experience of about 21 years.

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KEY STRENGTHS

SPECIALIZED EXPERTISE & DECADES OF EXPERIENCE • 93+ Years of Combined Experience in Design &

Engineering

•

•

Promoters bring 7+ decades of cumulative industry experience (from firms like L&T, Voltas)

In-house Technical Model handles design, supply chain, and regulatory compliance

DIVERSIFIED BUSINESS & MARKET STABILITY •

Sectoral De-risking: Diverse order book spans Power, Water, and Railway/Infrastructure

• Geographic Reach: Projects executed across

22 Indian states

• Client Mix: Strong diversification across

Government, Public Sector, and Private Clients

CERTIFIED QUALITY & TECHNOLOGY INTEGRATION • Adherence to ISO 9001, 14001, and 45001 standards

•

•

Leveraging Technology with specialized design software and tools

SAP Implementation automates and controls critical business functions

HIGHEST FINANCIAL PERFORMANCE & MARGINS • Achieved Highest EBITDA Margin, ROCE, and ROE

among peers

• Demonstrated Fastest Revenue CAGR (32.17% during FY23-25)

• Asset Light Model uses equipment leasing to lower costs

and boost efficiency

ROBUST MONITORING & TIMELY DELIVERY • Centralized Project Monitoring Group (CPMG) ensures

stringent quality and regulatory standards

• Continuous Value Engineering minimizes delays and

ensures timely project execution

• Exceptional Fixed Asset Turnover Ratio achieved

101.27x in FY25

PROVEN TRACK RECORD & RECOGNITION • Award-Winning performance, including the

"Faster Completion Project Award"

• Documented letters of client appreciation for successful

project completion

•

Specializing in customized solutions for complex projects

1 CRISIL

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GEOGRAPHICAL PRESENCE

22

Unique States Served till date

3,500+

Suppliers’ Network & Relationships PAN India

190

Active Sites as on 30st June 2025

Asset Light

Model for Equipments and Machineries

To Expand into Middle East in the Private Sector EPC Projects

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

KEY CLIENTELE

Governments / Public Sector Undertakings (PSUs)

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Business

Segments

BUSINESS AREAS

Experience

Power Transmission & Distribution • Transmission lines- HV • Substations- AIS & GIS • Power Distribution Network • Smart Metering

Solar EPC Projects • Water Pump Installation • Ground Mounted Solar Projects

Railway Infrastructure • Overhead Electrification • Traction Sub-Station

Water Infrastructure • Drinking Water Projects • Water Distribution projects

Renewable Energy

Metro Infrastructure

o

i l

o f t r o P C P E r e h t O o t n

i

i

g n d n a p x E

Diversification reduces reliance on a single revenue stream, cushioning against market fluctuations and cyclical shifts

Industrial Projects

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POWER TRANSMISSION, SUBSTATION & DISTRIBUTION

Delivering Reliable Power Infrastructure from Grid to Ground. One of India’s leading power transmission EPC companies, Vikran Engineering specializes in the construction of high-voltage transmission lines up to 400 kV and substations up to EHV 765 kV (AIS & GIS) across diverse terrains and operating conditions. With proven expertise in power distribution EPC covering rural electrification, system strengthening, and smart metering, ensuring energy access for underserved communities and enhancing grid efficiency nationwide.

Core Capabilities •

High-Voltage Transmission Lines up to 765 kV.

•

•

•

•

•

•

Design & execution of AIS substations up to 400 kV

EPC of 132–400 kV underground cables for industrial and urban infrastructure.

High-voltage switching & distribution substations

Rural and remote area electrification projects under major government schemes.

Feeder bay and substation augmentation for power distribution utilities.

Integration of smart meters for data-driven monitoring and efficient billing.

Landmark Projects • MPPTCL 400 kV Ashtha–Ujjain–Indore Transmission Line (90 km)

•

•

•

•

•

•

•

PGCIL 132 kV Khonsa–Deomali Transmission Line (45 km) – Completed within 12 months

PGCIL 132 kV Miao–Namsai (41 km) and Changlang–Jairampur (60 km), Arunachal Pradesh

PGCIL Bihar Package: 400 kV Substation Work with 500 MVA Power Transformer

PGCIL Punjab Package: 400 kV Substations at Jalandhar, Patiala & Samba

Feeder bay and substation augmentation for power distribution utilities.

Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY)

Deendayal Upadhyay Gram Jyoti Yojana (DDUGJY)

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

WATER INFRASTRUCTURE

Provides turnkey solutions for water treatment plants, distribution networks, and rainwater harvesting systems, catering to the diverse water infrastructure needs of communities across India. With deep expertise in both surface and underground drinking water projects, the company leverages advanced engineering and smart automation to ensure efficiency and sustainability

Core Capabilities

Landmark Projects

• Design, supply, and construction of WTPs

• Overhead Service Reservoirs & Intake Wells

• Distribution networks for surface & underground projects

•

Rainwater harvesting & multi-village water schemes

• Automation, SCADA & electro-mechanical systems

Betul, MP ₹254.34 Cr project under Har Ghar Jal Yojana

Chhattisgarh ₹ 87.41Cr project under Har Ghar Jal Yojana

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

RAILWAY INFRASTRUCTURE

specializes in designing and executing projects across overhead electrification (OHE), traction substations (TSS), underground EHV cabling, and signaling & telecommunication systems, ensuring seamless operations for both mainline railways and metro networks.

Core Capabilities • Overhead Electrification (OHE) – Design, supply, and

construction of 25 kV, 50 Hz AC systems

•

Traction Substations (TSS) – Construction of 132 kV and 220 kV substations

• Underground EHV Cabling – Laying extra-high voltage

cables for railway projects

•

Signaling & Telecommunication – Implementation of signaling systems for safe and efficient railway operations

Landmark Projects

•

•

•

220kV Vondh-Bhachau TSS (Western Railway) – 16 KM OHE and 8.1 KM underground cable line

132kV Transmission Line under RE Project Danapur – 35 KM route, completed design, supply, erection, testing & commissioning

Sengottai-Punalur Section, Tamil Nadu – Electrification including OHE and TSS works

• Banka Traction Substation, Bihar – 132 kV transmission

line construction

• Underground cabling projects in Bhachau, Gujarat,

and other locations

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

GLIMPSE OF SOME OF THE KEY PROJECTS EXECUTED (1/2)

Purpose : Power Distribution work in Arunachal Pradesh Intra State

Description: Design, Supply & Construction of 132kV Transmission Line in NER & Sikkim from PGCIL

Purpose : Power distribution work in Kupwara, Kashmir

Description: Loss Reduction Work under RDSS scheme from NTPC.

OHE 25kV, 50 Hz AC Railway Electrification Project between Sengottai & Punalur section of Tamil Nadu for CORE Location: Tamil Nadu

765 kV AIS Bays / 400 kV Bays in Raipur Substation for Power Grid Corporation of India Limited Location: Raipur

EPC, Testing, Commissioning, Trial Run and O&M of Various Components of Ghogri Multi-Village Scheme, District Betul in Single Package on ‘Turn- Key Job Basis’ of the Entire Water Supply Scheme for 10 Years Location: Madhya Pradesh

90 KM of Ashta - Ujjain 400 kV DCDS Transmission Line on twin Moose Conductor for MPPTCL Location: Ujjain, Madhya Pradesh

End-to-end turnkey solutions, including design, supply, installation, testing and commissioning

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

GLIMPSE OF SOME OF THE KEY PROJECTS EXECUTED (2/2)

Substation Package SS-99 (ii) Augmentation of transformation capacity by 1×500MVA, 400/220kV ICT under Augmentation of transformation Capacity by 1x500MVA, 400/220kV ICT Location: Pavagada, Karnataka

Others • Commissioning of 765 kV AIS Bays / 400 kV Bays in Raipur Substation for PGCIL.

• Commissioning of 90 KM of Ashta -- Ujjain 400 kV DCDS Transmission Line on twin Moose

• Conductor for MPPTCL in Madhya Pradesh.

• Commissioning of 220 kV UG EHV Cable work of Bhachau Project for CORE Railway in Gujarat.

• Commissioned 400 kV Bina Substation with 80 MVA Reactor for MPPTCL.

• Commissioned 220 kV Sub station & Associated line in REWA Region for MPPTCL in

Madhya Pradesh.

• Commissioned 220 kV GIS for Muzaffarpur substation for PGCIL in BIHAR.

•

PGCIL 400 kV Substation with 500 MVA Power Transformer at Muzaffarpur in BIHAR.

• Commissioning of Power Distribution Projects in Bihar, Madhya Pradesh, Maharashtra.

Full Scale Village Electrification work in Bihar on Turnkey Basis under RGGVY Location: Bihar

•

Executed OHE 25kV, 50 Hz AC Railway Electrification Project between Sengottai & Punalur section of Tamil Nadu for CORE.

• Commissioned 220 kV Substation Bays for PGCIL at Samba in Jammu and Kashmir Region.

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

SEGMENT CAPABILITIES : POWER

Transmission Line & Substation - up to 765kV

Substations up to 400 kV

Power Distribution Network 33kV/11kV

Smart Metering Connections

7 Projects

3 Projects

30 Projects

30,000 Connections

Extra High Voltage (EHV) High Voltage

Air Insulated Substations (AIS) Gas Insulated Substations (GIS)

Total Power Segment Order Book*

₹ 3457.6 Crore

~82%

of Total Book

14,492

10,63 0

FY22

FY24

*Including solar projects, As on 10th Nov, 2025

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

SEGMENT CAPABILITIES : WATER, RAILWAYS AND SOLAR

Segment

Head

Water

Scope of Work

• Designing, supplying, and constructing water treatment plants (WTP) • Building overhead service reservoirs (OHSR) and intake wells • •

Laying distribution pipe networks for surface and underground drinking water projects Implementing rainwater harvesting systems and multi-village water supply schemes

Description

Railway& Infra

Key Projects

Strategic Importance

Scope of Work

Key Projects

Strategic Importance

• Executing projects under the Jal Jeevan Mission (JJM) in states like Uttar Pradesh, Madhya Pradesh, and Chhattisgarh • Multi-village water supply schemes in districts such as Betul (Madhya Pradesh) and Baloda Bazar (Chhattisgarh) • Projects for drinking water supply in Uttar Pradesh, including Azamgarh, Sultanpur, and Raebareli districts

• Company’s involvement in water infrastructure aligns with India’s growing focus on providing safe and potable water to rural households • VIKRAN’s has ability to deliver large-scale projects efficiently

• Overhead Electrification (OHE): Designing, supplying, and constructing OHE systems for railway electrification projects (25 kV, 50 Hz AC) • Traction Substations (TSS): Construction of 132 kV and 220 kV traction substations • Underground EHV Cabling: Laying underground extra-high voltage (EHV) cables for railway projects • Signaling and Telecommunication: Implementation of signaling systems for railway operations

• Electrification of the Sengottai-Punalur section in Tamil Nadu, including OHE and TSS works • Construction of a 132 kV transmission line for the Banka Traction Substation in Bihar • Underground cabling projects in Bhachau, Gujarat, and other locations

• Railway infrastructure segment contributes to the company’s diversification strategy, reducing reliance on its core power T&D business • Segment, contributing only 1.4% of VIKRAN's FY 2024 revenue, is set for growth due to rising railway electrification and high-speed rail projects

Solar EPC

Capacity

• Undertaking solar PV projects up to 2 GWp • BoS projects for solar power plants up to 1 GWp

Strategic Importance

• Company’s entry into the solar EPC sector aligns with India’s push for renewable energy and sustainability • Diversification reduces reliance on traditional infrastructure projects and positions VIKRAN to capitalize on the growing demand for solar energy

solutions

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

Industry

Overview

INDIAN EPC INDUSTRY SCENARIO

Overall Investments in India (Rs Trillion)

Sector wise share of investments

Infrastructure

Industrial

Building Construction

18 23

70

24 26

100

FY26-29P

20%

13%

20%

12%

3%

16%

16%

FY19-25

17%

12%

16%

11%

6%

17%

21%

FY19-25

FY26-29P

Roads

Rlwys

Power Water

Other Infra

Building Const.

Industrial Const.

Non-EPC Investments , 60%

Projects Mode wise Breakup of Investments

Source: Industry Report from CRISIL

Investments in Power Sector

Distribution, 27%

Distribution, 14%

₹ 19-21 Trillion FY19-25

Transmission, 17%

₹ 29-30 Trillion FY26-29P

EPC Investments…

Transmission, 16%

Generation, 57%

Generation, 69%

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

INDIAN POWER INDUSTRY SCENARIO

India’s Peak Power Demand (in Billion Units)

Estimated Installed Capacity Addition by FY29 (in GW)

2,5 00

2,0 00

1,5 00

1,0 00

500

0

9.6%

8.2%

7.6% 4.2%

CAGR 5-7%

6.5%

5.1% 1.3% -1.2%

5 7 2 , 1

1 9 2 , 1

6 7 2 , 1

0 8 3 , 1

2 1 5 , 1

7 2 6 , 1

5 9 6 , 1

0 0 8 , 1

5 6 2 , 2

12. 0%

10. 0%

8.0 %

6.0 %

4.0 %

2.0 %

0.0 %

-2.0%

FY30P

250

40

375

70 50

FY25

215

32

172

56

FY19

FY20

FY21

FY22

FY23

FY24

FY25

FY26P

FY27

FY28

FY30P

Coal

Other Fossil

Renewable

Other Non-Fossil

Storage

Total Transmission Length in India (above 220kV) in ‘00,000 ckm

Substation Capacity in India (in mn MVA)

4.9

4.9

4.7

4.6

4.4

9.0

9.7

10.3

11.8

12.5

11.0

13.4

4.3

4.1

FY19

FY20

FY21

FY22

FY23

FY24

FY25

FY19

FY20

FY21

FY22

FY23

FY24

FY25

Source: Industry Report from CRISIL

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

INDIAN WATER EPC INDUSTRY SCENARIO

Investment in Water Sector in India (Irrigation + WSS)

Status of Tap Water Supply for Households across India

(₹ trillion)

14.0

12.3

FY19-25

FY26-30P

Non-EPC Investments, 25%

Projects Mode wise Breakup of Investments

EPC Investments, 85%

as on 11th July 2025

~77.8% of rural households in India having tap water supply in their homes

Har Ghar Jal Reported States/UTs

Har Ghar Jal Certified States/UTs

0% - 10%

11% - 25%

26% - 50%

51% - 75%

76% - 100%

100%

Source: Industry Report from CRISIL

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

INDIAN RAILWAY INDUSTRY SCENARIO

Investment in Railway Sector in India

Investment in Metro Sector in India

(₹ trillion)

12.5

16.0

1.7

0.8

FY19-25

FY25-29P

FY19-23

FY24-28P

Non-EPC Investments, 5%

Projects Mode wise Breakup of Investments

Status of High Speed Rail Projects in India

Chennai - mysore

Mumbai - Hyderabad

Mumbai - Ahmedabad

Mumbai - Nagpur

Varanasi - Howrah

Delhi - Amritsar

Delhi - Ahmedabad

Delhi - Varanasi

Detail Project report Under construction

Source: Industry Report from CRISIL

EPC Investments, 95%

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

Way

Ahead

FURTHER SCALE UP THE OPERATIONS THROUGH VARIOUS STRATEGIC INITIATIVES

Action Points to diversify further, scale up revenues and enhance margins

Further strengthen our presence in Power Transmission and Distribution and Solar Sector

•

Leveraging our experience in the power transmission and distribution sector, we intend to undertake additional projects and undertake higher value projects in this segment

• We will also intend to further strengthen our substation and underground cabling businesses

Selectively expand our geographical footprint globally

Expand our EPC portfolio into other EPC sectors

Capitalizing on Government initiatives and policies

• We aim to expand into infrastructure EPC projects in the private sector and explore international markets, particularly in Asian (Focus in Middle east) and African countries

• As per International Energy Agency (IEA),

world energy outlook 2023, there are around 600 million people without access to electricity in Africa and they constitute around 80% of the global population without access

•

To enhance our business growth, we plan to expand our presence in various verticals, including railways and metros. This is expected to diversify our offerings, reduce dependency on existing services, and target higher-margin opportunities with lower working capital requirements

• We are set to expand into the Solar EPC by undertaking turnkey projects for Solar PV Systems up to 2 GWp and Balance of System projects for Solar Power plants up to 1 GWp

• Exploring projects in installations of Data

Centres and Smart metering

• Aligning with the National Solar Mission

and high-speed rail projects, the company targets solar EPC and bullet train power supply contracts

•

Leverage government programs like AIBP and Pradhan Mantri Sahaj Bijli Har Ghar Yojana to expand in water and power distribution, driving growth and geographic diversification

• Aligning with Jal Jeevan Mission and RDSS to enable large-scale rural electrification and water supply projects

I n v e s t o r P r e s e n t a t i o n N o v 2 0 2 5

Thank You !

For more information please contact,

Vikran Engineering Ltd 401, Odyssey I.T. Park, Road No. 9, Wagle Industrial Estate, Thane (W) – 400604, Maharashtra

AdfactorsPR Mr. Sumit Kinikar / Mr. Bhavya Aggarwal Sumit.Kinikar@adfactorspr.com / bhavya.aggarwal@adfactorspr.com