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VIKRAN ENGINEERING LTD (VIKRAN) Fair Value & Analysis

Industrials · IN · Market cap ₹19.2B

VE VIKRAN ENGINEERING LTD VIKRAN · NSE
Price₹62.54
Fair Value₹74.67
Upside+19.4%
Quality39/100
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Expensive Growth
Thin margins · 7.3% net margin
Low debt · negative free cash flow
Ranks above peers (8/13)
Narrow moat 44/100
Evidence: High Range ₹38.91 – ₹93.33 Share as image

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 4 days ago

Share price −13.3% over the past month.

Below-average quality, screening 19% undervalued on our models.

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What matters now

  • A fairly wide model range (₹38.91 to ₹93.33) leaves room in how you read the outcome.
  • Our model range runs from ₹38.91 (bear) to ₹93.33 (bull), base ₹74.67. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 39/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (11 months)

₹114.88 ₹51.90 Fair Value ₹74.67 Sep 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

11‑month range ₹51.90 – ₹114.88 · fair‑value band ₹38.91 – ₹93.33 · the ₹62.54 price screens below the ₹74.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.

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Analysis

VIKRAN ENGINEERING LTD (VIKRAN) currently trades at ₹62.54, while our model-based Fair Value estimate is ₹74.67, implying the stock looks roughly 19.4% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, VIKRAN ENGINEERING LTD generated revenue of ₹12.5B at a net margin of 7.3%. Revenue grew 82.2% year over year. It earns a return on equity of 10.8%. Net debt stands at ₹2.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹38.91 (bear case) to ₹93.33 (bull case); at ₹62.54, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at 19%, VIKRAN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹39.11 ₹41.32 ₹45.42 76
ROIC Compounder ₹51.98 ₹74.12 ₹96.37 72
Gordon GGM ₹1.38 ₹2.88 ₹4.57 70
All 17 models by family
DCF Models
Owner Earnings ₹55.45 ₹126.81 ₹276.62 31
Earnings-Based
Graham-Dodd ₹24.18 ₹168.61 ₹236.62 54
Lynch FV ₹83.25 ₹118.93 ₹154.61 50
PEG = 1.0 ₹83.25 ₹118.93 ₹154.61 46
EPV ₹49.61 ₹57.96 ₹65.26 59
Dividend Discount
Gordon GGM ₹1.38 ₹2.88 ₹4.57 70
DDM Multi-Stage ₹1.38 ₹2.43 ₹3.02 61
Multiples
P/E Multiple ₹56.00 ₹74.67 ₹93.33 63
P/S Multiple ₹45.33 ₹60.44 ₹75.55 58
P/B Multiple ₹45.33 ₹60.44 ₹75.55 55
EV/EBIT ₹84.40 ₹112.70 ₹141.00 53
EV/EBITDA ₹65.72 ₹87.79 ₹109.86 54
EV/Revenue ₹60.10 ₹86.07 ₹112.03 43
Asset-Based
NCAV (Graham) ₹23.99 ₹32.14 ₹47.98 50
Economic Profit
Residual Income ₹39.11 ₹41.32 ₹45.42 76
ROIC Compounder ₹51.98 ₹74.12 ₹96.37 72
Growth Earnings
Growth-Adj P/E ₹109.82 ₹156.88 ₹203.95 68

Widest divergence: Growth Earnings (₹156.88) versus Dividend Discount (₹2.43). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹12.5B
Revenue growth (YoY) +82.2%
Net margin 7.3%
Return on equity 10.8%
Free cash flow −₹4.4B FY2026
P/E ratio 15.4
More key figures
Operating margin 14.1%
EPS (TTM) ₹4.05
EPS growth (YoY) +5.3%
Net debt ₹2.6B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 19

Profitability 33
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vikran Engineering Limited provides engineering, procurement, and construction services for power distribution and transmission projects in India. It also offers charitable and social impact initiatives. The company was incorporated in 2008 and is headquartered in Thane, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

VIKRAN ENGINEERING LTD reported revenue of ₹12.5B in FY2026 versus ₹5.2B in FY2023, a compound +33.6%/yr. Reported net income was ₹917M in FY2026, compounding +28.9%/yr from FY2023.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹12.5B
Latest YoY
+36.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+33.6%
Revenue +33.6%/yr
FY23 ₹5.2B
FY24 ₹7.8B
FY25 ₹9.2B
FY26 ₹12.5B
Net income +28.9%/yr
FY23 ₹428M
FY24 ₹748M
FY25 ₹778M
FY26 ₹917M

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Cite: Fair Value Calculator (2026). "VIKRAN ENGINEERING LTD Fair Value". https://www.fairvalue-calculator.com/stock/VIKRAN

Peer Group

Engineering & Construction · 838 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 39 · Bottom 25%
Fair Value upside +19% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 82% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 15.4× · Cheaper than median
P/B 1.55× · Pricier than median
P/S (TTM) 1.54× · Pricier than 75% of peers
EV/EBITDA 11.1× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 59 · sector 15
FUTURE 100 · sector 14
PAST 43 · sector 26
HEALTH 98 · sector 94
DIVIDEND 4 · sector 43

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹228.50 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is VIKRAN ENGINEERING LTD (VIKRAN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹74.67 versus a price of ₹62.54, about +19% (undervalued).
What is the fair value of VIKRAN?
Our model-based fair value for VIKRAN ENGINEERING LTD is ₹74.67 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹62.54.
What is the quality score of VIKRAN?
VIKRAN ENGINEERING LTD has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of VIKRAN ENGINEERING LTD (VIKRAN)?
VIKRAN ENGINEERING LTD reported trailing-twelve-month revenue of about ₹12.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VIKRAN?
The net profit margin of VIKRAN ENGINEERING LTD is about 7.3%, meaning it keeps roughly 7.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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