Please find enclosed herewith the Audited Financial Results alongwith the Audit Reports (Standalone & Consolidated)

Revenue Growth 20pctPat Growth 25pctEmphasis Of MatterExceptional ItemContingent Liabilities IncreasedResults View source PDF Explain this filing

VIKRAMSOLR · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-4.9%Reaction day

₹225.80

prior close

₹225.00

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.1%-4.8% vs market

Other Electrical Equipment peers, median of 49sector-0.1%-4.8% vs sector

On the reaction day the stock moved 4.8 pts less than Nifty Microcap 250 and 4.8 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

-2.8

Sessions after the filingfrom the prior close

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Reaction day

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Next day

-5.8-1.5-4.3-1.4-4.4

-8.1-4.5-3.6-4.4-3.7

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15d

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-30.3+8.4-38.7-4.5-25.7

UpDownMarket · Nifty Microcap 250Sector · Other Electrical Equipment peers, median of 49Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Vikram Solar reported strong full-year results with standalone revenue of ₹48,034 million, up 40.6% YoY from ₹34,155 million. PAT surged to ₹4,691 million from ₹1,391 million, a 237% jump, driven by higher module shipments and improved margins. EPS stood at ₹13.65 versus ₹4.59 prior year. The auditors issued an unmodified opinion, though two Emphasis of Matter notes were raised: (1) ₹1,485.20 million safeguard duty claim pending in court with no provision made, and (2) ₹528.09 million customer withholdings under dispute resolution/arbitration. An exceptional item of ₹56.15 million was recorded for labour code impact. The company listed on BSE/NSE in August 2025 via IPO, raising net proceeds of ₹14,145 million. A ₹3,726 crore capex plan for a 6GW backward-integrated wafer/ingot facility in Tamil Nadu was approved.

Likely market impact

Exceptional revenue and profit growth validates the solar module business momentum. However, the two legal disputes (safeguard duty and customer withholdings totaling ₹2,013 million) and the massive ₹3,726 crore capex commitment warrant monitoring, as they could impact future earnings and cash flows.