Vikram Solar’s shares jumped 13.3% on September 10, touching ₹407.95 each, after the company reported its first quarterly results since listing on the stock market in August.
The solar solutions provider posted a 79.9% rise in revenue to ₹1,133.6 crore for the June quarter. Net profit rose sharply by 484% to ₹133.4 crore, while EBITDA more than doubled to ₹242 crore, with margins improving to 21.4%.
During this quarter, the company received big new orders, taking its total order book to 10.96 GW, which is nearly double its current capacity. To handle this demand, Vikram Solar plans to increase its production capacity four times to 17.5 GW by FY2027.
The company is also expanding into solar cell manufacturing, aiming to reduce costs and enhance the security of its supply chain. Recently, it bagged a 336 MW solar module order from L&T Construction for a project in Khavda, Gujarat.
Vikram Solar’s management said they expect growth momentum to continue, supported by a strong pipeline, policy incentives like the PLI scheme, customs duties on imports, and the government’s push for Atmanirbhar Bharat and green hydrogen.
Since its IPO debut on August 26 at ₹338 per share (against an issue price of ₹332), the stock has climbed more than 18% above its issue price.
Headquartered in Kolkata, Vikram Solar is among India’s largest solar module makers, with a 4.5 GW production capacity and presence in 39 countries.
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