Analysts/Institutional Investor Meet/Con. Call Updates

Date: 18th August 2026 To, To, The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai-400001. Bandra (E), Mumbai –400051. (Scrip Code: Equity - 544496) (Scrip Symbol: VIKRAN) Dear Sir/Madam, Sub: Transcript of the Q1 FY26-27 Earnings Conference Call In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith transcript of the Q1 FY26-27 Earnings Conference Call held on 12th August 2026 at 11.30 A.M. 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 “Vikran Engineering Limited Q1 & FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. RAKESH MARKHEDKAR – CHAIRMAN AND MANAGING DIRECTOR – VIKRAN ENGINEERING LIMITED MR. NAKUL MARKHEDKAR – WHOLE-TIME DIRECTOR – VIKRAN ENGINEERING LIMITED MR. ASHISH BAHETY – CHIEF FINANCIAL OFFICER – VIKRAN ENGINEERING LIMITED ADFACTORS, INVESTOR RELATIONS ADVISORS – VIKRAN ENGINEERING LIMITED Page 1 of 19 Vikran Engineering Limited August 12, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Vikran Engineering Limited Q1 FY27 Earnings Conference Call. We are pleased to have with us the senior management team of Vikran Engineering Limited. Before we begin, please note that all participant lines will be in the listen-only mode during the management presentation. There will be an opportunity to ask questions during the Q&A session. Please note, this conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. I would now like to hand the call to Mr. Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Limited for his opening remarks. Over to you, sir. Rakesh Markhedkar: Good morning, ladies and gentlemen. On behalf of Vikran Engineering Limited, I extend a warm welcome to all my participants joining our Q1 FY27 Earning Conference Call. I hope you had an opportunity to review our financial results, investors presentation, and earning release for the quarter ended June 30th, 2026. I am joined today by Mr. Nakul Markhedkar, our Whole-Time Director, Mr. Ashish Bahety, our CFO, along with our Investor Relation Advisors from Adfactors PR. Let me begin with a brief overview of the quarter. Q1 FY27 performance. We have commenced FY27 on a positive note, delivering approximately 28% Y-o-Y revenue growth, while EBITDA grown up around 24% Y-o-Y on standalone basis, and the PAT grown up to 212% Y-o-Y, and that remaining very impressive. The quarter reflects continual execution momentum across our businesses, while we remain focused on maintaining a healthy balance between growth and profitability. A key strategic priority for us continued to be strengthening our presence in renewable energy, mainly into the solar EPC. Following the acquisition of NOPL Solar Project Private Limited, we have realigned the execution framework for our 969 megawatt AC solar project in Maharashtra. With Vikran undertaking the EPC execution through a direct control from NOPL, valued at approximately INR3,518 crores, including GST. This gives us a greater alignment between the project ownership and EPC execution and provides a significant opportunity to leverage our existing engineering and project management capability at scale. Our immediate focus is on ensuring disciplined execution and timely commissioning of the portfolio. Strengthening our Power T&D business. While solar EPC has become a significant growth driver, our Power T&D business continued to remain a core strength. During the period, we have made meaningful progress on the NOPL solar project, while also adding fresh opportunities from leading customers such as MSEDCL and Power Grid. At the same time, the successful commissioning of Miao-Namsai transmission line, this is a very prestigious Arunachal Pradesh, further demonstrate our execution capabilities, particularly in technically challenging projects. This project, which we have commissioned, is very, very Page 2 of 19 Vikran Engineering Limited August 12, 2026 important in the national interest, and it was highly recognized by our clients, Ministry of Power and Power Grid. And with this line, in last six months, we have commissioned two very toughest terrain line of transmission in Arunachal Pradesh. In last six months, this is the achievement gives a clear-cut strength of execution of Vikran Engineering Limited. Overall, these developments reinforce our ability to grow across multiple business verticals while maintaining execution and commercial discipline. We remain focused on converting our strong order book into revenue, strengthening our renewable energy platform, and continuing to build our core Power T&D capability. Nakul, our Whole-Time Director, will take you through the specific order wins, project execution updates, and current order book in greater details. Going forward, we see opportunities across both our established and emerging businesses. Power T&D will continue to benefit from increasing power demand, renewable energy integration, and investments in transmission and grid infrastructure. While renewable energy, our focus will remain on executing the existing solar EPC portfolio, including NOPL, while selectively evaluating opportunities in adjacent areas such as battery energy storage systems and data center infrastructure. Our approach to growth will remain disciplined. We will continue to focus on execution-ready opportunities, prudent bidding, working capital discipline, and sustainable project level returns. With this, I would like to hand over to Mr. Nakul Markhedkar, our Whole-Time Director, to take you through the operational performance, order book, and execution progress during the quarter. Thank you. Nakul Markhedkar: Thank you so much, sir. Good morning everyone. I would like to take you through our operational performance during Q1 FY27, with a focus on key developments during this quarter, execution progress, and our current order book. We have entered FY27 with a strong and increasingly diversified execution pipeline. The most significant change to our order book has been scale up of our solar EPC division, which has now emerged as our largest piece of pie in our order book, while T&D continues to remain our strong core business. During the quarter, we also took a few important steps to strengthen the quality of our order books that aligns with our execution readiness. The key development was restructuring of the 969 megawatt solar EPC project in Maharashtra following the acquisition of NOPL Solar Projects Private Limited. Vikran received a direct order from NOPL valued at approximately INR3,518crores including GST, while replacing the earlier engagement. This realignment was driven by a change in ownership and project execution structure following the acquisition of NOPL and was not related to any performance issue or disputes. The project has now moved into execution stage. Our teams are progressing across engineering, procurement, vendor mobilization, and on-ground execution, with stipulated execution period Page 3 of 19 Vikran Engineering Limited August 12, 2026 of 12 months. Our focus is on maintaining the planned execution schedule while ensuring appropriate quality, cost, and project control. As of now, we have already commissioned nine sites amounting to around 45 megawatt, and are ready to commission another 15 megawatt in the coming few days. We are also in advance stages for around 240 megawatt. This marks an important mileston [Showing first 8,000 characters — download PDF for full document]