Vikram Solar Limited has informed the Exchange about Change in Management and Auditors
VIKRAMSOLR · price
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Vikram Solar's board approved multiple items on May 7, 2026. Key management changes include appointment of Mr. Sameer Nagpal as Whole-time Director and CEO, while Ms. Neha Agrawal resigned as Whole-time Director and was re-designated as Senior Vice President - Corporate Strategy (KMP). The company also re-appointed Mr. Gyanesh Chaudhary as Chairman & Managing Director for 3 years and Ms. Ratnabali Kakkar as Independent Director for 5 years. Financially, FY26 showed strong growth with revenue from operations rising 41% to Rs 48,034 million and net profit jumping 237% to Rs 4,691 million versus FY25. The board approved a massive Rs 3,726 crore capital expenditure to establish a 6 GW backward-integrated wafer and ingot facility in Tamil Nadu by FY29, marking the company's transformation from component provider to fully integrated solar manufacturer. The statutory auditor GARV & Associates gave an unmodified opinion on the financial results.
The appointment of a new CEO and resignation of a Whole-time Director represents significant leadership transition. The strong financial performance and ambitious capex plan signal strategic expansion, which could be positive for shareholders despite near-term capital deployment pressures.