Vikram Solar Limited (VIKRAMSOLR) — Financial Results | 13 August 2026

13 August 2026 · NSE 🔴 High Importance Neutral

By StockFin Research Team•AI-Assisted Analysis•Source: BSE/NSE Filings

📢 Key Event

Vikram Solar reports 38% YoY revenue growth and 8.06% EBITDA margin in Q1 FY27, advancing ₹500 crore capex for integrated manufacturing expansion.

🔄 What Changed

Revenue grew 38% YoY to INR19.78 crores; EBITDA margin held at 8.06%; order book reached 7.9 GW; DCR volumes increased; capex deployment began with ₹500 crore spent this quarter.

🔮 What's Next

BESS Phase 1 commercial operations by March 2027; cell manufacturing target by Q4 FY29; 9 GW wafer/ingot capacity planned; ₹4,700 crore total capex underway; DCR volumes expected to grow 2-2.5x quarterly; margin improvement anticipated in Q2.

💡 Investor Takeaway

The company is scaling integrated manufacturing to improve margins and reduce import dependence, with DCR-driven growth expected to stabilize profitability and support long-term capacity targets.

Vikram Solar reported Q1 FY27 revenue growth of 38% to INR19.78 crores, driven by strong order book and DCR expansion, with EBITDA margin at 8.06% and realization of INR15 per watt peak. The company is advancing its ₹500 crore capex deployment, targeting 7.5 GWh BESS commercial operations by March 2027 and 9 GW cell capacity by Q4 FY29, while maintaining a debt-free balance sheet and expanding its distributor network to 119+ partners across 24 states.

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About Vikram Solar Limited (VIKRAMSOLR)

Capital Goods · Capital Goods - Electrical Equipment · Listed on NSE

Market Cap: ₹5,799.48 CrP/E: 15.8ROE: 11.3%ROCE: 20.4%

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"How will DCR volumes impact margins in Q2?""What is the timeline for full 9 GW cell capacity ramp-up?""When will ALMM-2 extensions stabilize pricing in non-DCR segment?"

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📊 More VIKRAMSOLR filings

🔴 Announcement — 29 September 2026Vikram Solar announced the resignation of Executive Vice President Rony Banerjee effective September...
🔴 Announcement — 28 September 2026Vikram Solar announced it received a 400 MW order for high-efficiency N-Type TOPCon G12R modules fro...
🔴 Announcement — 17 September 2026Vikram Solar announced its participation in the Anand Rathi Annual Flagship Conference on September ...
🔴 Announcement — 15 September 2026Vikram Solar announced a domestic solar cell supply agreement with Avaada Electro to procure 1 GW of...
🔴 Announcement — 11 September 2026Vikram Solar announced on September 11, 2026, that it secured a 124 MW supply order for high-efficie...

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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