ALFA Finder| Revenue growth | 38% YoY growth in Q1 FY2027. |
|---|---|
| Margins | Downwards trend; EBITDA margin fell to 8% from 21% YoY. |
| Order book | 7.9 GW total; 7.1 GW Large Accounts, 0.8 GW Mid-Market. |
| Demand visibility | Strong; 7.9 GW order book as of June 30, 2026. |
| Management confidence | High, citing strong policy tailwinds and order book. |
Growth
Revenue rose 38% YoY; sales volumes reached 1,006 MW (up 32% YoY). PAT fell 85% YoY to ₹20 Cr.
Outlook
Targeting 15 GW module, 9 GW cell, and 9 GW wafer capacity by FY29; adding 15 GWh BESS by FY30.
Risks
EBITDA margins compressed from 21% to 8% YoY; high dependence on policy tailwinds like ALMM and DCR.
Last quarter's promises, checked
Delivered
- Guided 1 GW quarterly production run rate → delivered 1.006 GW (= BEAT)
- Guided 6 GW module facility first output June 2026 → delivered on track (= BEAT)
- Guided 7.5-8 GW FY27 production → delivered 1.006 GW in Q1 (on track) (= BEAT)
Missed
- Guided EBITDA per watt peak INR 1.75-2.00 → delivered margin compression to 8% (= MISS)
- Guided 8.2 GW order book → delivered 7.9 GW (= MISS)
Investor Presentation filed with BSE, 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.