Vikram Solar Limited delivered exceptional financial performance in Q3FY26, with the solar module manufacturer reporting a remarkable 361% surge in net profit alongside strong revenue growth for the quarter ended December 31, 2025.

Outstanding Financial Performance

The company's quarterly results demonstrate robust operational strength across key financial metrics:

The company's earnings per share increased significantly to ₹2.66 from ₹0.66 in the corresponding quarter of the previous year, reflecting the strong profitability improvement.

Nine-Month Performance Highlights

For the nine months ended December 31, 2025, Vikram Solar achieved even more impressive year-on-year growth:

The nine-month results underscore the company's sustained growth momentum throughout the financial year, with revenue from operations increasing by over 50% compared to the same period last year.

Board Decisions and Leadership Changes

The Board of Directors, meeting on January 20, 2026, approved several key decisions including the re-appointment of Ms. Neha Agrawal as Whole-time Director for a three-year term from March 22, 2026, to March 21, 2029. Ms. Agrawal brings over 14 years of experience in solar module manufacturing and currently heads strategy and international business operations.

Additionally, the board approved a revised postal ballot notice for the appointment of new directors:

• Mr. Suresh Gopinathan Menon as Non-Executive Non-Independent Director effective December 1, 2025
• Mr. Joginder Pal Dua as Independent Director for five years from December 1, 2025, to November 30, 2030

IPO Proceeds Utilization

Following the company's successful listing on August 26, 2025, Vikram Solar has been systematically deploying its IPO proceeds of ₹14,144.87 million. As of December 31, 2025, the company has utilized ₹2,226.36 million, with ₹11,918.51 million remaining for future investments:

Operational Highlights

The company's operational efficiency is reflected in its cost management, with total expenses of ₹9,790.42 crores in Q3FY26 compared to ₹10,085.24 crores in Q3FY24. The company also issued 613,160 equity shares under its Employee Stock Option schemes during the quarter, increasing the paid-up share capital to ₹3,623.30 million.

Consolidated Results

On a consolidated basis, Vikram Solar reported net profit of ₹981.47 crores for Q3FY26, compared to ₹190.20 crores in Q3FY24. Consolidated revenue from operations reached ₹11,059.52 crores, demonstrating strong performance across the group's operations including its subsidiaries focused on solar power projects and related services.