Vikran Engineering Ltd

Financial actions

• Approved corporate guarantee for wholly-owned subsidiary up to ₹2,941.19 crore to secure credit facilities.
• Approved promoter contribution infusion up to ₹200 crore for project financing.
• Infusion may be via equity, loans, NCDs, OCDs, quasi-equity, or combinations per financing needs.

Audit and regulatory disclosures

• Approved Cost Audit Report for FY2025-26; authenticated by M/s R. R. Ahirwar & Associates.
• Annexures per SEBI circular enclosed as Annexure I and II.

Related party and contingent liability

• Corporate guarantee in favour of subsidiary; related party; arm's length basis.
• Terms and conditions yet to be finalised; further disclosures to follow with definitive documents.
• Contingent liability with no immediate impact unless subsidiary defaults.

GST SCN details

• Show Cause Notice issued under RGST/CGST/IGST for FY 2022-23.
• Tax demand Rs 45,079,720; interest Rs 28,389,108; penalty Rs 4,507,972.
• Period involved: FY 2022-23.
• Date of receipt: 29 September 2026.
• Violation: GST TDS Turnover Mismatch.
• Company expects no material financial or operational impact.
• Company will file detailed objections/reply before State Tax Officer.

Regulatory notice

• Show cause under RGST/CGST/IGST for FY2022-23 received.
• Tax demand ₹33,414,995.21; interest ₹24,124,710.00; penalty ₹3,341,498.00.
• Period involved: FY 2022-23.
• Nature: Show cause for utilization of excess ITC.
• Date of receipt: 28 September 2026.
• Annexure I and SEBI circular reference enclosed.

Response and outlook

• Company expects no material impact on financials or operations.
• To file detailed objections/reply before State Tax Officer; strong case on merits.

GST Show Cause Notice

• Show Cause Notice issued by Deputy Commissioner, Circle-Vaishali Nagar, Jaipur-IV under GST acts.
• Tax demand FY2022-23: Rs 83,61,982.91; interest Rs 62,71,486; penalty Rs 8,36,196.
• Cause: Excess ITC claimed in GSTR-3B not confirmed in GSTR-2A/2B.
• Company to file detailed objections before State Tax Officer; expects strong merits.
• No material impact foreseen on financial or operations.

Meeting Details

• Date: 29 September 2026; Virtual group meeting with Bharat Connect Conference – Rising Stars 2026.
• Type/Mode: Group meeting, Virtual.
• Organizer: Bharat Connect Conference – Rising Stars 2026, hosted by Arihant Capital Markets.

Purpose

• Purpose: Investor/analyst interaction based on generally available information.

Vikran Engineering Ltd – Trading window closed from 01 October 2026 till 48 hours after declaration of the Unaudited Financial Results of the Company for the quarter and half year ended 30 September 2026

GST SCN details

• SCN issued by CGST Patna-I under Section 73 on 22 September 2026.
• Tax demand Rs 5,34,45,785; penalty Rs 53,44,579; period FY 2022-23.
• Alleged issues: GSTR-2A vs GSTR-3B differences, RCM not paid, turnover differences per TDS.
• No material impact on finances or operations anticipated.
• Company to respond within the specified time period.

ITAT order details

• ITAT F Bench, Mumbai, issued a favorable order for AY 2016-17.
• Order dated 15 September 2026; communication received 22 September 2026.
• Deleted the demand of ₹3,96,75,696 and the ₹6,79,64,220 addition.
• Loans and interest deemed repaid; identity, creditworthiness, genuineness proven under Section 68.
• Contingent liability of ₹3,96,75,696 extinguished.
• No material impact on financials or operations anticipated.

GST SCN overview

• GST Show Cause Notice (Form GST DRC-01) under Section 73 issued for FY2022-23.
• Tax demand Rs 1,71,20,276 and penalty Rs 17,12,027.599 stated in the SCN.
• Excess ITC alleged, including ITC on inward supplies liable to reverse charge.
• SCN dated 11 September 2026; notice received 17 September 2026.
• Company will respond within the time period; no material impact expected.
• Annexure I provides the detailed information as disclosed.