Electrical Equipment & Products company Vikram Solar announced Q3FY26 results Revenue from Operations: Q3FY26 revenue stood at Rs 1,106 crore, an 8 % increase over the Rs 1,026 crore reported in Q3FY25. EBITDA (Operating Profit): Q3FY26 EBITDA rose to Rs 205 crore, up 142 % versus the Rs 85 crore of Q3FY25, demonstrating stronger operating leverage. EBITDA margin improved to 19 % in Q3FY26 from 8 % in Q3FY25. Profit Before Tax (PBT): PBT for Q3FY26 reached Rs 143 crore, a 383 % jump from the Rs 30 crore earned in Q3FY25. Profit After Tax (PAT): Q3FY26 PAT came in at Rs 98 crore, surging 416 % over the Rs 19 crore recorded a year earlier. PAT margin expanded to 9 % in Q3FY26 (vs 2 % last year) and to 11 % for 9MFY26 (vs 2 % in 9MFY25). Diluted Earnings per Share (EPS): EPS for Q3FY26 was Rs 2.70, nearly four times the Rs 0.69 posted in Q3FY25. Order Book Updates: Order Book: 10.6 GW as on 31st December 2025 Geography-wise Split: 84% Domestic & 16% Exports Customer-wise Split: 55% from IPPs, 21% from C&I;, 13% from Distribution Companies, 6% from Government Projects and 5% from EPC Operational Highlights: Module Sales: 796 MW compared to 590 MW in Q3FY25, growth of 35% Capacity Utilization: Capacity utilization stands at 90% in Q3FY26 Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said: “During this quarter we delivered a resilient and disciplined performance, anchored by strong execution volumes and continued improvements in operating efficiency. Revenues grew 8% on-year, reflecting the steady scale-up of our manufacturing operations and our ability to execute consistently in a dynamic market environment. The broader solar industry continues to be firmly positioned for long-term growth supported by robust demand fundamentals, enabling policy frameworks, and a growing shift toward high-efficiency and technologically advanced solutions. Our order book remains robust at 10.6 GW, providing strong medium-term revenue visibility across operations at our 5 GW Vallam manufacturing facility, which is ramping up as planned and meaningfully strengthens our ability to deliver high-quality, large-scale solutions to both domestic and global customers. In parallel, our Gangaikondan cell and module projects continue to progress in line with our roadmap, reinforcing our focus on backward integration, cost competitiveness, and long-term resilience of the value chain. These initiatives are central to building a scalable, future-ready manufacturing platform. As we operate in an industry where technology cycles are evolving at an unprecedented pace, this quarter reinforced the importance of staying aligned with global benchmarks while executing at scale. During the quarter, we successfully transitioned our entire portfolio to high-efficiency N-Type modules, with our HYPERSOL series delivering power outputs of up to 640 Wp. This marks an important step in aligning Indian manufacturing with international standards on efficiency, form factor, and long-term bankability. Looking ahead, we remain focused on scaling the business in a disciplined, capital-efficient manner while strengthening our manufacturing footprint, product portfolio, and execution capabilities. With strong order book, expanding capacities, and supportive industry tailwinds, we are optimistic about the opportunities ahead and confident in our ability to deliver sustainable, long-term value for all stakeholders.” Result PDF