Whalesbook
Profit Surge Boosts Vikram Solar
Vikram Solar Ltd. posted a remarkable net profit of ₹98.15 crore for the third quarter of the fiscal year, a fivefold increase from the ₹19.02 crore earned in the same period last year. This impressive financial performance was attributed to robust volume growth and enhanced operating efficiency, signaling a strong turnaround for the solar module manufacturer.
Major Capex for Battery Storage
In a significant strategic move, the company's board greenlit a capital expenditure of ₹4,371 crore. This investment targets entry into the battery energy storage systems (BESS) sector, with the initial phase focusing on producing lithium-ion battery packs through its wholly owned subsidiary, VSL Powerhive. The long-term vision includes establishing an integrated cell and battery pack facility with a 7.5 gigawatt hours (Gwh) capacity.
Revenue and Margin Improvements
Revenue from operations saw a year-on-year increase of 7.79 per cent, reaching ₹1105.95 crore in Q3FY26, up from ₹1026.05 crore in Q3FY25. Total expenses, however, declined by 3.03 per cent year-on-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin witnessed a substantial growth of 142 per cent, soaring to 19 per cent from 8 per cent in the prior fiscal's comparable quarter. Module sales increased by 35 per cent to 796 MW, with capacity utilization at 90 per cent.
Future Outlook
Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar Ltd., highlighted the company's resilient performance, driven by strong execution and operational improvements. The management indicated that the first phase of the BESS project, a 5 Gwh facility, is expected to be commissioned in FY27, laying the groundwork for future expansion into integrated cell manufacturing.