Vikram Solar Q1FY26 results: Net profit jumps multifold to ₹133 crore; share price soars 11%

Shares of Vikram Solar, one of India's leading PV solar cell manufacturer jumped over 11% in early morning trade on Wednesday morning after company announced robust Q1FY26 earnings on Tuesday late night. The shares traded above ₹400 apiece on the NSE at 9:30 am.

The recently listed Vikram Solar reported a strong set of numbers in the Q1FY26 earnings as the company’s net profit for the quarter grew multifold to ₹133 crore. The shares got listed with a tepid premium of 1.1% at ₹338 apiece against the issue price of ₹332 apiece.

In Q1FY26, the company’s revenue for the quarter jumped almost 80% at ₹1135 crore as against ₹632 crore in the same quarter last year. However, on a sequential basis, the total revenue from operations declined marginally by 4% from ₹1,183 crore in the previous quarter.

On the operational side, the EBITDA for the quarter ended June 2025 stood at ₹244 crore as against ₹114 crore in the previous year’s same quarter. On a sequential basis, the company’s EBITDA grew by 15.4% QoQ at ₹210 crore.

Lastly, on the bottom line front, the company’s net profit for the quarter jumped multifold to ₹133 crore for the quarter as compared to ₹24 crore in the previous year’s similar quarter.

Ahead of the Q1FY26 results, shares closed over 3.5% higher on Tuesday. The shares are now trading nearly 10% higher than the issue price of ₹332 apiece.

The issue was a mix of fresh issuance of shares valued at ₹1,500 crore and an offer for sale (OFS) aggregating to ₹579.37 crore.

Under the OFS, Gyanesh Chaudhary, Anil Chaudhary and Vikram Capital Management Private Limited will offload their stake.

The net proceeds will be used for funding of capital expenditure through investment in wholly-owned unit VSL Green Power Pvt Ltd for Phase I and Phase II projects. It will also be utilised for general corporate purposes.

Additionally, the company, in its RHP, said it "will receive the benefits of listing of its equity shares on the stock exchanges, including enhancement of our company’s brand name and creating a public market for our equity shares in India."