Conference Call with Vikram Solar Management and Analysts on Q1FY27 Performance and Outlook. Listen to the full earnings transcript.
Electrical Equipment & Products company Vikram Solar announced Q1FY27 results Standalone Financial Highlights: Revenue from Operations: The company reported revenue of Rs. 15,360.30 million in Q1FY27, representing a YoY increase of 35.31% from Rs. 11,351.60 million in Q1FY26 and a QoQ growth of 5.74% from Rs. 14,525.97 million in Q4FY26. Total Income: Stood at Rs. 15,485.69 million in Q1FY27, up 35.91% YoY from Rs. 11,394.01 million in Q1FY26 and 5.27% QoQ from Rs. 14,709.69 million in Q4FY26. For the full year FY26, standalone total income was Rs. 48,618.66 million. Profit Before Tax (PBT): For Q1FY27, PBT was Rs. 242.10 million, reflecting a YoY decline of 86.72% compared to Rs. 1,822.96 million in Q1FY26 and a QoQ decline of 82.62% from Rs. 1,393.00 million in Q4FY26. Net Profit (PAT): The company recorded a profit of Rs. 187.27 million in Q1FY27, a YoY decrease of 86.07% from Rs. 1,344.15 million in Q1FY26 and a QoQ decrease of 82.97% compared to Rs. 1,099.74 million in Q4FY26. Total Comprehensive Income: Stood at Rs. 183.54 million in Q1FY27, compared to Rs. 1,330.72 million in Q1FY26 and Rs. 1,084.61 million in Q4FY26. Earnings Per Share (EPS): Basic EPS for Q1FY27 was Rs. 0.52, down from Rs. 4.24 in Q1FY26 and Rs. 3.04 in Q4FY26. Consolidated Financial Highlights: Revenue from Operations: Reported at Rs. 15,630.92 million in Q1FY27, marking a YoY growth of 37.89% from Rs. 11,335.77 million in Q1FY26 and a QoQ growth of 7.59% from Rs. 14,528.16 million in Q4FY26. Total Income: Reached Rs. 15,757.16 million in Q1FY27, representing a YoY increase of 38.49% from Rs. 11,377.79 million in Q1FY26 and a QoQ growth of 7.12% from Rs. 14,710.12 million in Q4FY26. For the full year FY26, consolidated total income was Rs. 48,607.78 million. Profit Before Tax (PBT): Stood at Rs. 252.20 million in Q1FY27, a YoY decline of 86.04% compared to Rs. 1,806.24 million in Q1FY26 and a QoQ decline of 81.86% from Rs. 1,390.48 million in Q4FY26. Net Profit (PAT): Attributable to the owners was Rs. 197.77 million in Q1FY27, marking a YoY decrease of 85.17% from Rs. 1,333.64 million in Q1FY26 and a QoQ decrease of 82.09% from Rs. 1,104.22 million in Q4FY26. Total Comprehensive Income: For Q1FY27, it stood at Rs. 199.93 million, compared to Rs. 1,332.66 million in Q1FY26 and Rs. 1,129.47 million in Q4FY26. Earnings Per Share (EPS): Basic EPS for Q1FY27 was Rs. 0.55, compared to Rs. 4.21 in Q1FY26 and Rs. 3.05 in Q4FY26. Business Highlights: Segment Performance: The company operates in a single primary reportable segment: "Manufacturing of Solar Photovoltaic Modules as well as the Engineering, Procurement and Construction (EPC) and operation & maintenance of solar power plant." Capacity Expansion: The Board approved the enhancement of the proposed backward-integrated wafer and ingot manufacturing facility at Gangaikondan, Tamil Nadu, from 6 GW to 9 GW. The facility is scheduled to be commissioned by FY29. Investment Details: The investment required for the capacity addition at the Tamil Nadu site is up to Rs. 5,589 crore, to be financed through internal accruals, debt, and/or other financing arrangements. IPO Proceeds Utilization: Out of the net IPO proceeds of Rs. 14,144.87 million, the company has utilized Rs. 7,303.80 million as of June 30, 2026. The unutilized amount of Rs. 6,841.07 million is temporarily invested in deposits and kept in current accounts with scheduled commercial banks. Legal Matters: The company has paid Rs. 1,485.20 million toward safeguard duty till July 29, 2021. This matter is currently subjudice at the Supreme Court and Orissa High Court; however, based on legal opinion, the company has accounted for this as a receivable. Auditor Appointment: The Board approved the re-appointment of M/s Ernst & Young LLP, Chartered Accountants (E&Y;), as Internal Auditors for FY27. Result PDF