| 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
- ₹151.50
- Market cap
- ₹5,490 Cr
- Revenue (annual)
- ₹4,802 Cr
- Net profit (annual)
- ₹470.4 Cr
- P/E (TTM)
- 15.4×Sector 45.6×
- Promoter holding
- 63.01%+0.00% QoQ
- FII holding
- 3.37%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Vikram Solar Ltd
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Vikram Solar Limited signed a domestic supply agreement with Avaada Electro Limited to procure 1 GW of solar cells. The contract is valued at approximately Rs.1,250 Crore.
- Value
- ₹1,250 Cr
- From
- Avaada Electro Limited
- solar cell supply
- 1.0 GW
Vikram Solar Business Update
Vikram Solar signed a supply agreement with Avaada Electro to procure 1 GW of solar cells for Rs.1,250 crore, enhancing its domestic supply chain resilience.
- Value
- ₹1,250 Cr
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- 1.0 GW
Vikram Solar Bags ₹1.56 Cr Order from Capital Energy Private Limited
Vikram Solar won a ₹1.56 Crore order from Capital Energy Private Limited for 124 MW of G12R TOPCon modules. Delivery is due by end of Q3 2026.
- Value
- ₹1.56 Cr
- From
- Capital Energy Private Limited
- Execution
- By end of Q3 FY2026
- solar module supply
- 124 MW
Vikram Solar Bags New Order from Capital Energy Private Limited
Vikram Solar secured a 124 MW module supply order from Capital Energy for a solar project in Andhra Pradesh. G12R TOPCon module delivery begins October 2026.
- From
- Capital Energy Private Limited
- Execution
- By end of 3rd quarter, 2026
- solar module supply
- 124.0 MW
Vikram Solar Acquisition Worth ₹0.48 Cr
Vikram Solar Limited will acquire 100% stake in Vikram Solar Australia Pty Ltd for USD 50,000. This move supports the company's overseas expansion strategy.
- Value
- ₹0.48 Cr
- Execution
- 2026-08-26
Vikram Solar Acquisition Worth ₹0.47 Cr
Vikram Solar Limited acquired 100% of Vikram Solar Australia Pty Ltd for USD 50,000 (approx. ₹0.48 Crore) to support its overseas expansion strategy.
- Value
- ₹0.47 Cr