Vikram Solar Ltd Share Price Today

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CA. Hardik Kachchava

28 Sep • 5:20 PM · SEBI-Registered Analyst

Strategic Order Acquisition & Business Update

VIKRAMSOLR

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.

Nikita (SEBI RA)

24 Sep • 2:16 PM · SEBI-Registered Analyst

Vikran Engineering wins ₹153.76 crore order

Vikran Engineering Limited (NSE: VIKRAN) has secured a ₹153.76 crore order, excluding GST, from Power Grid Corporation of India Limited. The contract covers a 400 kV AIS Extension Substation Package at Tumkur-II, with a 21-month execution period. The order is significant because its value is roughly comparable to Vikran Engineering's reported trailing twelve-month revenue of ₹142 crore. The project also supports grid infrastructure linked to the integration of additional renewable energy capacity. My view is that the order improves revenue visibility, but execution will be more important than the headline order value. The key variables to watch are project progress, billing conversion and whether further POWERGRID orders follow.

VIKRAMSOLR

Neha

23 Sep • 3:56 PM · SEBI-Registered Analyst

🚨 VIKRAM THERMO | PHARMA EXCIPIENTS + 40% OPM + 36% ROCE

VIKRAMSOLR

Vikram Thermo (India) Ltd is an integrated manufacturer of pharmaceutical excipients and chemicals, serving domestic and export markets. 📊 FY26 Snapshot • Sales: ₹134 Cr • Operating Profit: ₹54 Cr • OPM: 40% • PAT: ₹38 Cr • ROCE: 36% • ROE: 27% 🚀 Growth • 5Y Sales CAGR: 13% • 5Y Profit CAGR: 26% • TTM Profit Growth: 34% • FY26 Operating Cash Flow: ₹52 Cr • Free Cash Flow: ₹42 Cr 💰 Balance Sheet Borrowings reduced to just ₹5 Cr, while CFO/Operating Profit stood at 119%, highlighting strong cash conversion. ⚠️ Key Monitorable At around 30.7x P/E and 8.5x book value, valuation remains an important factor despite strong profitability. — Neha Gupta | SEBI Registered Research Analyst Registration No.: INH000016542 For educational purposes only. Not investment advice. #VikramThermo #PharmaStocks #SpecialtyChemicals #IndianStocks #StockMarket

Pyrifera Investment Advisors

17 Sep • 1:42 AM · SEBI-Registered Analyst

Vikram Solar Secures 1 GW Cell Supply with Avaada Electro

Vikram Solar Limited has finalized a strategic 1 GW domestic solar cell supply agreement with Avaada Electro, securing a steady pipeline of ALMM-compliant N-Type TOPCon cells starting September 2026. Key Highlights: Deal Scope: 1 GW of domestically manufactured, high-efficiency solar cells to power Vikram Solar’s module manufacturing. Strategic Bridge: The agreement acts as a critical supply bridge to maintain production momentum while Vikram Solar’s own upcoming 9 GW cell facility progresses toward commissioning. Q1 FY27 Context: The deal comes as the company navigates near-term margin pressures, reporting an 85% YoY decline in Q1 FY27 net profit to ₹20 crore due to elevated expenses, despite top-line revenue growth. Strategic Rationale: DCR Compliance & Import Insulation: Securing a reliable, high-volume domestic source of cells ensures Vikram Solar can seamlessly fulfill premium Domestic Content Requirement (DCR) tenders without relying on volatile international supply chains. Margin Stabilization: By locking in local cell pipelines, the company mitigates the cell scarcity and margin compression currently impacting standalone module manufacturers. Market Outlook: This is a highly calculated tactical move that strengthens Vikram Solar’s positioning in India’s rapidly expanding DCR solar market. With strict domestic content policies favoring localized supply chains, this partnership secures long-term revenue visibility for utility-scale projects and effectively bypasses international trade barriers, positioning the company for sustained operational stability.

VIKRAMSOLR

Saurabh Tyagi--Clovek,Advisory

16 Sep • 6:36 PM · SEBI-Registered Analyst

Vikram Solar: ₹1,250 Cr Order, But Margins Remain Key

VIKRAMSOLR

has secured a ₹1,250 crore contract from Avaada Electro for the supply of 1 GW of domestic N-Type G12R TOPCon solar cells. The order comes at an important point for the company as India’s solar manufacturing ecosystem continues to shift towards domestic sourcing, supported by policy measures and rising demand. The contract provides near-term revenue visibility while addressing Vikram Solar’s cell-sourcing requirements ahead of the commissioning of its own 9 GW solar cell manufacturing capacity, targeted for FY27. The move towards N-Type G12R TOPCon technology is significant as manufacturers increasingly transition from conventional PERC technology towards higher-efficiency cell formats. The contract also highlights the growing requirement for domestically manufactured solar components as developers and module manufacturers adapt to India’s evolving local-content requirements.

CA Barkha Kamra

16 Sep • 1:19 AM · SEBI-Registered Analyst

Vikram Solar Signs 1 GW Cell Supply Pact

VIKRAMSOLR

has signed a 1 GW domestic solar cell supply agreement with Avaada Electro for the procurement of ALMM-compliant N-type TOPCon solar cells. The agreement strengthens Vikram Solar’s access to domestically manufactured, high-efficiency solar cells and supports the company’s efforts to scale up its solar module manufacturing operations. The use of N-type TOPCon (Tunnel Oxide Passivated Contact) technology is significant as it offers higher conversion efficiency, better temperature performance and improved energy generation compared with conventional cell technologies. The agreement is also strategically important in the context of India’s growing emphasis on domestic solar manufacturing and reduced dependence on imported components. Compliance with the Approved List of Models and Manufacturers (ALMM) is particularly relevant for projects that require eligible domestic modules under applicable government programmes and procurement frameworks. Avaada Electro, as the cell supplier, will provide ALMM-compliant cells, enabling Vikram Solar to strengthen its domestic supply chain and meet demand from utility-scale and other solar projects. The 1 GW arrangement provides visibility for cell sourcing and could support Vikram Solar’s manufacturing ramp-up, order execution and participation in India’s expanding renewable-energy market. Overall, the agreement represents a positive development for both companies, while highlighting the increasing adoption of advanced N-type TOPCon technology in India’s solar manufacturing ecosystem.

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