Solar solutions provider Vikram Solar saw its shares pop 13.3% in intraday trade on Wednesday, September 10, hitting ₹407.95 apiece, in response to the company’s robust performance for the June-ending quarter, which is its first quarterly result after the company listed on bourses in August.
The company posted a 79.9% jump in consolidated revenue from operations to ₹1,133.6 crore, and with strong operating performance, net profit surged by 483.9% to ₹133.4 crore. Its EBITDA improved by 117.3% YoY to ₹242 crore, with margins expanding by 370 basis points to 21.4%.
It secured multiple orders during the quarter, causing its order book to reach 10.96 GW, which is twice its total rated capacity. To meet the growing demand, the company is scaling its manufacturing capacity by 4x to reach 17.5 GW by FY2027.
Additionally, it is strategically backward integrating into solar cell manufacturing, which provides supply chain security, cost competitiveness and strengthens its position across the value chain.
The company on Monday (September 08) announced a major order win of 336 MW of high-efficiency solar modules from L&T Construction. These modules will be deployed in Khavda, Gujarat, a region where the company has already made significant contributions.
Looking ahead, the company said it remains confident of sustaining this momentum through the rest of the year, driven by its strong order pipeline, expanding capacities, and disciplined execution.
With multiple industry tailwinds, such as a focus on Atmanirbhar Bharat, coupled with policy support like PLI schemes, customs duties, and encouragement in domestic production and green hydrogen ambitions, the right ecosystem has been created for building a truly self-reliant solar value chain, the company said in its regulatory filing.
Shares trade over 18% higher than IPO price
The company’s shares made their stock market debut on August 26, listing at ₹338 apiece, against the issue price of ₹332. At current levels, the stock is trading 18.1% higher than its issue price.
Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module production, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is among the largest PV module manufacturers in India, with a cumulative production capacity of 4.5 GW.
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