Vikram Solar Drops 5% on Margin Pressure Despite Revenue Beat
Shares of Vikram Solar Limited slid on 8 May, hitting a day low of Rs 214.20 on the NSE after the company delivered a mixed Q4FY26 scorecard. Revenue surged well ahead of estimates but margin contraction and a sharp drop in module realisations spooked investors, sending the stock lower from... The post Vikram Solar Drops 5% on Margin Pressure Despite Revenue Beat appeared first on Equitypandit.
Shares of Vikram Solar Limited slid on 8 May, hitting a day low of Rs 214.20 on the NSE after the company delivered a mixed Q4FY26 scorecard. Revenue surged well ahead of estimates but margin contraction and a sharp drop in module realisations spooked investors, sending the stock lower from the opening bell.
Standalone revenue from operations rose 41% year-on-year to Rs 4,803.4 crore for FY26, against Rs 3,415.5 crore in the prior year. Q4 standalone net profit came in at Rs 109.97 crore, with full-year net profit tripling to Rs 469.06 crore from Rs 139.1 crore in FY25. Q4 EBITDA expanded to Rs 235 crore from Rs 211 crore a year ago, but the EBITDA margin contracted 173 basis points to 16.14% from 17.87%, as module realisations fell 13.4% year-on-year and raw material costs climbed.
The big announcement from the board meeting was a Rs 3,726 crore capital expenditure approval for a 6 GW backward-integrated wafer and ingot manufacturing facility at Gangaikondan, Tamil Nadu, targeted for commissioning by April 2028. It forms phase one of a broader 12 GW expansion roadmap by FY30. By that point, Vikram Solar plans to have 15.5 GW module capacity, 12 GW cell capacity and 15 GWh of battery energy storage system capacity.
Operationally, the numbers were strong. Module production nearly doubled in Q4FY26 to 971 MW from 526 MW a year ago, while FY26 full-year production surged 150% to 3,220 MW. The order book stood at 8.2 GW as of 31 March, with 87% domestic and 13% exports. Operating cash flow improved sharply to Rs 630 crore in FY26 from Rs 281 crore in FY25. Sameer Nagpal was appointed Whole-time Director and CEO with effect from 7 May 2026.
At 14:23 pm on the NSE, Vikram Solar shares were trading at Rs 214.16, down 4.97%, with the stock’s 52-week high at Rs 407.95 touched on 10 September 2025, placing the current price roughly 47% below that peak.
Tired of missing hot stocks? Tradz by EquityPandit provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!
The post Vikram Solar Drops 5% on Margin Pressure Despite Revenue Beat appeared first on Equitypandit.
What's Your Reaction?
