Shares of Vikram Solar Ltd rallied as much as 13% to touch an intraday high of Rs 408 on the NSE on Wednesday after investors cheered the renewable energy company’s robust first-quarter earnings. With today’s gain, the stock is up for a third consecutive session.
Vikram Solar’s consolidated net profit for the quarter stood at Rs 133 crore, marking a massive 484% jump from the Rs 23 crore reported in the same quarter of the previous fiscal year. The company’s revenue from operations also displayed impressive growth, up 80% to Rs 1,134 crore, Vikram Solar’s official regulatory filing showed.
As for earnings before interest, tax, depreciation and amortisation (EBITDA) margin, Vikram reported a sharp increase of 370 basis points to 21.4% for the quarter under review.
The company said it is benefiting from several structural trends, including rising energy demand driven by AI, an imminent boom in solar and storage, and strong policy support to scale the supply chain.
It added that the ongoing shift toward a self-sustaining market is also creating opportunities, with integrated players expected to emerge as the key winners.
Vikram Solar is one of India’s largest Solar PV module manufacturers, growing from 4.5 GW operational capacity in FY25 to 17.5 GW in 2 years. As of June 30, 2025, the company’s order book stood at 10.96 GW.In a separate development, the company announced a significant order win of 336 MW high-efficiency solar modules from Larsen & Toubro (L&T) Construction. The modules will be deployed in Khavda, Gujarat, a region where Vikram Solar has already played a major role in solar capacity expansion.As part of this order, Vikram Solar will supply its advanced Hypersol G12R modules, built on N-type technology. The latest module offers improved bifaciality of up to 80%, better high-temperature performance, and minimal year-on-year degradation of ≤0.4%.
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At about 10:10 am, shares of the company were trading at Rs 402.6, higher by 11.65% from the last close. Vikram Solar made its stock market debut on August 26, listing at a premium of 2% over the issue price.
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