Vikram Solar Limited has made the audio recording of its earnings conference call for the quarter ended June 30, 2026 (Q1FY27), publicly available on its corporate website. The call, held on August 07, 2026, provided stakeholders with an overview of the company’s financial performance and operational updates for the period. This disclosure ensures transparency and allows investors who could not attend the live session to review management’s commentary.

The conference call was conducted in compliance with Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The session began at 2:00 PM IST on August 07, 2026. The company confirmed that no unpublished price-sensitive information (UPSI) was shared or discussed during the meeting, adhering to regulatory norms regarding insider trading and information symmetry.

Key Participants

Senior leadership from Vikram Solar participated in the discussion to address stakeholder queries. The confirmed participants included:

Accessing the Recording

Investors and analysts can access the audio file directly from the company’s official website. The recording is hosted under the investor relations section, ensuring easy retrieval for those seeking detailed insights into the Q1FY27 results.

Audio Link Details

Corporate Information

Vikram Solar Limited is listed on both the BSE Ltd. (Scrip Code: 544488) and the National Stock Exchange of India Ltd. (Symbol: VIKRAMSOLR). The company’s registered office is located in Kolkata, West Bengal, while its corporate office operates from Rajdanga Main Road in the same city. Manufacturing facilities are situated in Falta, West Bengal, and Panaiyur, Tamil Nadu.

For further information regarding the earnings call or corporate queries, stakeholders may contact Go India Advisors, specifically Khushbu Singhania or Nikhar Arora.

Vikram Solar Limited reported an 86% year-on-year decline in standalone net profit to ₹187.27 million for the quarter ended June 30, 2026 (Q1FY27), as surging material and service costs outpaced revenue growth and compressed margins significantly. While revenue from operations expanded by 35% to ₹15,360.30 million from ₹11,351.60 million in the year-ago period, total expenses jumped to ₹15,243.59 million from ₹9,571.06 million. This cost inflation drove EBITDA down to ₹1.25 billion from ₹2.44 billion, contracting the EBITDA margin sharply to 8.13% from 21.48%. The divergence between top-line growth and bottom-line contraction highlights the immediate impact of elevated input prices on profitability, even as the company scales production volumes.

The Board of Directors approved the unaudited financial results at its meeting held on August 06, 2026. M/s G A R V & Associates, Chartered Accountants, issued a limited review report on the financials pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company published advertisements of the results in Financial Express (English) and Dainik Statesman (Bengali) on August 07, 2026, in compliance with Regulations 30 and 47 of the same listing framework.

Standalone Financial Performance

Standalone profit before tax fell to ₹242.10 million from ₹1,822.95 million in Q1FY26. Basic earnings per share (EPS) dropped to ₹0.52 from ₹4.24. Cost of materials and services consumed rose substantially to ₹13,622.97 million from ₹8,473.78 million in the corresponding period last year. Other income increased to ₹125.39 million from ₹42.41 million. The paid-up equity share capital rose to ₹3,623.54 million following the allotment of 24,200 equity shares under employee stock option schemes.

The following table summarises key standalone financial metrics across comparable periods:

Capacity Expansion and Strategic Initiatives

The Board approved enhancing the proposed backward-integrated wafer and ingot manufacturing facility at its Gangaikondan site in Tamil Nadu from 6 GW to 9 GW. Commissioning is targeted on or before April 2029, with an investment requirement of up to ₹5,589 crore. Financing will be sourced through internal accruals, debt, and/or other arrangements. This expansion aims to capitalize on the enforcement of ALMM-3 from June 2028, strengthening domestic manufacturing capabilities. The company currently holds a ~7.9 GW order book as of June 30, 2026, with large accounts contributing ~7.1 GW.

IPO Proceeds and Contingent Matters

As of June 30, 2026, Vikram Solar had utilized ₹7,303.80 million of its net IPO proceeds of ₹14,144.87 million, leaving ₹6,841.07 million unutilised and temporarily invested. The auditor's review included emphasis of matter paragraphs regarding ₹1,485.20 million paid as safeguard duty, accounted as receivable pending Supreme Court and Orissa High Court decisions, and ₹528.09 million withheld by customers as liquidated damages, referred to dispute resolution. The Board re-appointed M/s Ernst & Young LLP (Firm Registration No. AAB-4343) as Internal Auditors for FY 2026-27.