Shares of recently listed Solar PV module maker Vikram Solar rallied over 11 percent on September 10, after the company delivered its best quarterly revenue, rising over 79 percent on year with a multi-fold profit growth during the June quarter.
This is the first quarterly results after the company listed on bourses. The Q1FY26 revenue rose by 79.7 percent on year to Rs 1,133.6 crore, while the net profit rose by 483.9 percent to Rs 133.4 crore on consolidated basis, with EBITDA more than doubling on year to Rs 242.2 crore.
On the capex front, Vikram Solar said it is aiming for a 'transformational' growth journey ahead. "We are scaling our manufacturing capacities by ~4x, supported by a buoyant demand environment. Additionally, we are strategically backward integrating into solar cell manufacturing which gives us supply chain security and cost competitiveness and strengthens our position across the value chain," Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar said.
The company said it is riding on the tailwinds of Centre's Atmanirbhar push, along with policy support through PLI schemes, and India's green hydrogen ambitions, which has created the ecosystem for a 'self-reliant solar value chain'.
Vikram Solar added that it is sitting on an orderbook pipeline of 10.96 GW, underscoring strong market demand, with a capacity utilization at 89.2 percent.
The company also informed that it is strengthening its value chain and progressing well on its expansion of Module Manufacturing Capacity to 17.5 GW, along with a backward integration into Solar Cell Manufacturing with 12 GW capacity.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
