ALFA Finder| Revenue growth | 40% YoY growth reaching ₹4,800 crores in FY26. |
|---|---|
| Margins | EBITDA margins rose to 19%; aiming for ₹5/watt EBITDA post-integration. |
| Order book | 8.2 GW as of March 31, 2026; 69% from IPPs. |
| Demand visibility | Strong, backed by 8.2 GW order book and national non-fossil targets. |
| Management confidence | High, citing structural shift in solar demand and policy alignment. |
Growth
FY26 sales volume grew 76% YoY to 3.3 GW; EBITDA margins expanded 500 bps to 19%; PAT reached ₹470 cr.
Outlook
Targeting 15.5 GW module and 12 GW cell capacity; FY27 EBITDA guidance of ₹1,500-1,600 cr; 15 GWh BESS target by FY30.
Risks
Rising raw material costs (silver, aluminum), US market traceability requirements, and geopolitical disruptions in West Asia.
Earnings Call filed with NSE, NSE: VIKRAMSOLR. Summary written with AI assistance from the document.
Vikram Solar Ltd: key numbers
- Share price
- ₹139.23
- Market cap
- ₹5,045 Cr
- Revenue (annual)
- ₹4,802 Cr
- Net profit (annual)
- ₹470.4 Cr
- P/E (TTM)
- 14.1×Sector 44.3×
- Promoter holding
- 63.01%+0.00% QoQ
- FII holding
- 3.10%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Vikram Solar Ltd
All →Vikram Solar Board Meeting Date
Vikram Solar scheduled a board meeting for November 14, 2026 to consider Q2FY27 results. The trading window remains closed until 48 hours after results are disclosed.
Vikram Solar Bags New Order from NLC India Limited
Vikram Solar secured a 289.87 MWp module order from NLC India Limited for a Rajasthan solar park. No rupee value disclosed; delivery due by March 2027.
- From
- NLC India Limited (on behalf of NLC India Renewables Limited)
- Execution
- By March 2027
- solar module supply capacity
- 289.87 MWp
Vikram Solar Capacity Expansion
Vikram Solar's 9-GW TOPCon cell plant in Tamil Nadu will produce first cells in December 2026. It marks entry into cell manufacturing, expandable to 12 GW.
- solar cell manufacturing capacity
- 9 GW
Vikram Solar Other Announcement
Vikram Solar Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026, as per regulatory requirements.
Vikram Solar Bags New Order from A leading renewable energy developer in India
Vikram Solar won a 187 MW module supply order for solar projects in Karnataka and Tamil Nadu. Delivery is due by December 2026.
- From
- A leading renewable energy developer in India (unnamed)
- Execution
- By December 2026
- solar module supply capacity
- 187 MW
Vikram Solar Management Change
Vikram Solar Ltd announced the resignation of Senior Management Personnel Mr. Rony Banerjee and the appointment of Mr. Nimish Jain as Chief Business Officer.