Strategic Order Acquisition & Business Update

Executive Summary Vikram Solar Ltd continues to demonstrate robust operational momentum, recently securing a significant 400 MW module supply order from a leading domestic Engineering, Procurement, and Construction (EPC) contractor. This mandate, aimed at decentralized solar projects in Maharashtra, highlights the company's strategic alignment with India's agricultural solarisation initiatives and its capacity to deploy advanced, high-efficiency technologies at scale. Order Specifics and Technological Edge Project Scope: 400 MW module supply for decentralized, geographically distributed projects across Maharashtra. Technology Deployed: Vikram Solar will supply cutting-edge 620 Wp high-efficiency N-Type TOPCon G12R modules. These units feature glass-to-glass, bifacial technology, and half-cut cells, designed to maximize energy yield and long-term durability. Supply Chain Resilience and Backward Integration The 400 MW order is backed by critical supply chain enhancements. Earlier in September, Vikram Solar finalized a ₹1,250 crore procurement agreement with Avaada Electro Ltd to secure 1 Gigawatt (GW) of ALMM-compliant N-Type G12R TOPCon solar cells. With deliveries beginning in September 2026, this strategic sourcing arrangement fortifies the company's domestic cell supply chain, ensuring seamless execution of major mandates while strengthening its Domestic Content Requirement (DCR) market position. Vikram Solar Management Outlook Chairman and Managing Director Gyanesh Chaudhary emphasized that state-backed programs like MSKVY 2.0 are pivotal to India’s clean energy transition, bringing sustainable power to agricultural communities. He noted that securing module supplies for projects of this scale reflects strong market confidence in Vikram Solar’s advanced G12R TOPCon technology and its ability to manage geographically distributed deployments.