Vikram Solar shares tumble over 10% to 52-week low as raw material cost weighs down Q1 earnings; key details

Solar panel manufacturer Vikram Solar shares declined more than 10% after the opening bell on Friday, August 7, as investors focused on the raw material costs weighing down the company's earnings in the April to June quarter of financial year 2026-27 despite healthy revenue growth.

NSE data showed that Vikram Solar shares dropped 10.6% to their intraday and 52-week low of ₹155.38 apiece on Friday’s market, compared to ₹173.96 apiece at the previous equity market close.

After opening at the intraday low, the company shares recovered marginally in early market hours and were trading 4.1% lower at ₹166.90 apiece on August 7, as per the exchange data.

The company’s Q1 net profits declined due to the overall rise in expenses in the period under review, which in turn squeezed Vikram Solar’s margins amid the heightened raw material costs.

Why did Vikram Solar shares fall today?

Vikram Solar shares dropped more than 10% on Friday’s market as investors focused on the solar panel manufacturer’s poor first-quarter performance and contracting margins of the fiscal year 2026-27, amid the 63% surge in raw material cost, which weighed down earnings.

NSE filings showed that the company reported an 85% fall in its consolidated net profits to ₹20 crore in the June quarter of FY27, compared year-on-year (YoY) with ₹133 crore in the same period a year earlier.

Although the overall revenue from core operations advanced 38% YoY to ₹1,563 crore, from ₹1,134 crore in the same quarter a year ago, the company’s 62% rising overall expenses impacted the Q1 performance.

The consolidated statements showed that Vikram Solar’s total expenses for the period under review surged 62% YoY to ₹1,550 crore, in comparison to ₹957 crore in the same period a year earlier.

This surge is largely powered by the 63.4% rise in the company’s raw material costs to ₹1,385 crore in the April to June quarter of FY27, compared with ₹847 crore in the same period of the previous financial year.

The rise in raw material costs also pressured the company's margins, which in turn translated into lower profits for the quarter under review.

EBITDA drops 48% YoY

Vikram Solar’s financial statements showed that the company’s operational-level earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 48% to ₹126 crore in the June quarter, compared YoY with ₹242 crore in the same period a year ago.

The NSE filings also showed that the company’s EBITDA margins contracted to 8.06% in the first quarter of FY27, compared with 21.36% in the same period last year.

Vikram Solar shares hit 52-week low

Vikram Solar shares hit their 52-week high of ₹407.95 on September 10, 2025, while the 52-week low was at ₹155.38 apiece on Friday, August 7, 2026, as per the exchange data.

The company shares have lost 29% of their value on a year-to-date (YTD) basis, and the company shares have declined over 53% from their IPO issue price levels, according to NSE data.

Shares of Vikram Solar were listed on the NSE back on August 29, 2025, with an issue price of ₹332 apiece.

The exchange data further showed that the stock has lost 8.6% in one month and was trading around 5.6% lower over the last five market sessions. The company’s market capitalisation (m-cap) was at ₹6,077 crore as of Friday’s market session.