Vikram Solar Limited has reported a strong financial performance for the financial year ending March 31, 2026, driven by record production levels, higher revenues, and significant profit growth. The company posted its highest-ever quarterly revenue of ₹1,453 crore during the fourth quarter of FY26, helping annual revenue reach ₹4,802 crore. This marks a 40 percent increase compared to the previous financial year and reflects the growing demand for solar manufacturing and renewable energy solutions in India and overseas markets.
The company also recorded a major rise in profitability during the year. Profit After Tax (PAT) increased by 236 percent to ₹470 crore for FY26, highlighting improved operational efficiency and stronger margins. During the final quarter, Vikram Solar achieved a record production level of 971 MW, indicating enhanced manufacturing performance and efficient execution of projects.
The company’s order book remained strong at 8.2 GW as of March 31, 2026. This included a record 1.9 GW of new orders secured during the fourth quarter alone. The growing order pipeline is expected to support future revenue visibility and strengthen the company’s market position in the renewable energy sector. Vikram Solar also made progress in reducing dependence on a limited number of customers. The revenue contribution from its top five clients declined from 80 percent to 47 percent year-on-year, helping the company diversify its customer base and improve financial stability.
Vikram Solar is continuing its long-term expansion strategy by significantly increasing manufacturing capacity and integrating advanced technologies. The company aims to achieve 100 percent vertical integration by FY30. Under this plan, it intends to build 12 GW capacity for wafers, ingots, and solar cells, along with 15.5 GW capacity for solar modules. This expansion is expected to strengthen domestic manufacturing capabilities and support India’s clean energy targets.
The company is also entering the Battery Energy Storage Systems (BESS) segment in a major way. It recently launched its flagship BESS brand “VION” and has set a target of achieving 15 GWh storage capacity by FY30. This move is expected to help the company expand beyond solar manufacturing and participate in the fast-growing energy storage market.
Key manufacturing projects are progressing according to schedule. Vikram Solar’s new module plant is expected to achieve full commercial production by June 2026, while the cell manufacturing plant is expected to become fully operational by December 2026. To support its next phase of growth, the company has appointed Sameer Nagpal as Chief Executive Officer.
Apart from business growth, Vikram Solar continues to focus on sustainability and social development initiatives. The company received ISO 14067 certification for its climate commitment and is supporting educational and environmental programs in regions such as the Sundarbans. With strong policy support for renewable energy in India and a robust order pipeline, Vikram Solar is well-positioned to strengthen its presence as a leading global solar manufacturer.
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