Vikram Solar Eyes Robust FY27 Despite Industry Woes

Vikram Solar anticipates robust financial results in the upcoming fiscal year, projecting a 1.7-fold increase in absolute EBITDA for FY27 compared to FY26. This positive outlook is supported by sustained healthy demand, a diversified order book, and planned capacity additions.

The company is proceeding with a significant 6 GW backward integration project, involving an investment of ₹2,700 crore. Additionally, a wafer and ingot facility in Tamil Nadu is slated to commence operations in the next quarter, financed through a combination of debt and internal accruals.

Despite prevailing industry concerns regarding oversupply and reduced module realisations, Vikram Solar's management remains confident. A recently signed long-term agreement for domestic content requirement (DCR) cells is expected to aid in margin recovery, contributing to projected strong performance in FY27.

In the January-March quarter of FY26, Vikram Solar achieved revenues of ₹1,452.8 crore, with a profit after tax of ₹110.4 crore and margins of 16.14%. The company continues to focus on both domestic consumption and export markets for its solar modules.