Vikram Solar Ltd

VIKRAM SOLAR LIMITED informed the BSE Ltd. and National Stock Exchange of India Ltd. that MUFG Intime India Private Limited, its registrar and share transfer agent, has confirmed compliance with dematerialization as per Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026.

Vikram Solar Limited informed the BSE Ltd. and National Stock Exchange of India Ltd. that the trading window for dealing in the company's securities will be closed from October 1, 2026, until 48 hours after the declaration of the unaudited financial results (standalone and consolidated) for the quarter and half year ending September 30, 2026.

Vikram Solar Limited has secured a significant order to supply 400 MW of high-efficiency N-Type TOPCon G12R modules to a leading EPC company in India for a portfolio of decentralized solar projects in Maharashtra, with module shipments scheduled to begin in October 2026 and project completion expected by March 2027. The order, valued at Rs 400 Cr, strengthens Vikram Solar’s position in the agricultural feeder solarisation segment and reflects confidence in the company’s advanced technology, according to Chairman & Managing Director Gyanesh Chaudhary, who noted the company’s commitment to supporting India’s clean energy ambitions. Vikram Solar, a leading Indian solar module manufacturer with a presence in 39 countries, has been recognized as a ‘Top Performer’ by PVEL and listed in Bloomberg NEF’s Tier 1 solar PV modules manufacturer list for 10 consecutive quarters.

Vikram Solar Limited announced that it has completed the acquisition of 100% shareholding of Vikram Solar Australia Pty Ltd, an Australia-based company incorporated on March 4, 2026, for a cash consideration of USD 50,000, making it a wholly owned subsidiary. The acquisition, which concluded on August 26, 2026, supports Vikram Solar’s overseas expansion strategy and does not constitute a related party transaction.

Vikram Solar Ltd announced an update on credit ratings pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. India Ratings and Research Private Limited (India Ratings) has affirmed the Long-Term ‘IND A+’ / Stable and Short-Term ‘IND A1+’ ratings on existing bank loan facilities, and has assigned the same ratings to additional bank loan facilities, enhancing the total rated bank loan facilities from Rs. 2,700 Crores to Rs. 4,000 Crores; the existing rated limits for bank loan facilities were Rs. 2,700 Crores, while the revised rated limits are Rs. 4,000 Crores, and the Short-Term ‘IND A1+’ rating was also assigned.

A monitoring report by India Ratings indicates delays of approximately three months in the implementation of a solar module and cell manufacturing facility, originally slated for completion in fiscal 2026. The delays affect Phase I Module, Phase I Cell, and Phase II Module projects, with revised completion dates now expected in June and December 2026. As of June 30, 2026, Rs 6,976.64 million (approximately $84 million USD) of the proceeds has been utilized, with a significant portion held in fixed deposits as margin money for equipment purchases. The report, which does not constitute an audit or verification of financial records, notes no specific utilization of funds under the general corporate purpose category and relies on information provided by the company and its advisors.

Vikram Solar Limited held its 21st Annual General Meeting on Tuesday, August 4, 2026, via video conferencing, with 70 members attending. Gyanesh Chaudhary, Chairman and Managing Director, chaired the meeting, during which shareholders approved the annual audited financial statements for the financial year ended March 31, 2026, and re-appointed Suresh Gopinathan Menon as a Non-Executive Non-Independent Director. The company also appointed Sameer Nagpal as a Whole-Time Director and Chief Executive Officer, re-appointed Gyanesh Chaudhary as Chairman & Managing Director for three years, and re-appointed Ratnabali Kakkar as Non-Executive Independent Director for a second term of five years.

Vikram Solar Limited will hold a board meeting on Thursday, August 6, 2026, to consider and approve the unaudited financial results (standalone and consolidated) along with a limited review report of the statutory auditors for the quarter ended June 30, 2026 (Q1FY27), according to a filing with the BSE Ltd. and National Stock Exchange of India Ltd.

Vikram Solar announced that the Annual General Meeting(AGM) of the company will be held on 4 August 2026.

Profit before tax fell 1.28% to Rs 139.04 crore in Q4 FY26 compared with Rs 140.85 crore posted in corresponding quarter last year. EBITDA were at Rs 235 crore in Q4 FY26, registering a 5% increase from Rs 224 crore reported in the year-ago period. The EBITDA margin reduced to 16% in Q4 FY26 from 19% in Q4 FY25. Order book stood at 8.2 GW as of 31st March 2026. Domestic operations accounted for 87% of total revenue, while exports contributed the remaining 13%. The board of directors has approved the appointment and re-appointments of key managerial personnel and directors, based on the recommendation of the Nomination and Remuneration Committee, subject to shareholders' approval at the ensuing general meeting. The company has appointed Sameer Nagpal as Whole-time Director and Chief Executive Officer (CEO) with effect from May 07, 2026. He will be liable to retire by rotation. The board has also approved the re-appointment of Gyanesh Chaudhary as Chairman & Managing Director for a further term of three years with effect from September 28, 2026. He will continue to be liable to retire by rotation. In addition, Ratnabali Kakkar has been re-appointed as an Independent Director for a second term of five consecutive years with effect from December 12, 2026. The company has approved a capital expenditure of Rs 3,726 crore to set up a 6 GW backward-integrated wafer and ingot manufacturing facility at its Gangaikondan site in Tamil Nadu by FY29. The project marks the first phase of the company's planned 12 GW roadmap, which is targeted to be commissioned by FY30. The expansion is aimed at transforming the company from a component provider into a fully integrated solar manufacturing player. The initiative is also expected to support India's push for supply chain indigenisation and reduce dependence on imports in the solar sector. Vikram Solar manufactures solar PV modules and also provides EPC and O&M services. Powered by Capital Market - Live