Vikram Solar Approves FY26 Audited Results, Rs 3,726 Crore Capex for 6 GW Solar Facility
Vikram Solar Limited approved audited standalone and consolidated financial results for FY26. The company approved a ₹3,726 crore capex for a 6 GW solar facility in Tamil Nadu. Key appointments include Sameer Nagpal as Whole-time Director & CEO. Profit Before Tax for FY26 was ₹6,464.91 crore.
The announcement includes the approval of audited financial results, a substantial capital expenditure for a new 6 GW facility, and key management changes, all of which are material events for the company's future growth and operations.
The approval of audited financial results, significant capital expenditure for expansion, and key management appointments indicate positive forward-looking strategic decisions and operational progress.
Vikram Solar Limited announced the outcome of its Board Meeting held on May 07, 2026. The Board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company also declared that its statutory auditors, M/s. GARV & Associates, have issued an unmodified opinion on these results.
The Board approved several key appointments and re-appointments. Mr. Sameer Nagpal was appointed as the Whole-time Director and Chief Executive Officer (KMP) effective May 07, 2026. Mr. Gyanesh Chaudhary was re-appointed as Chairman & Managing Director for a further period of 3 years from September 28, 2026. Ms. Ratnabali Kakkar was re-appointed as an Independent Director for a term of 5 years from December 12, 2026. Additionally, Ms. Neha Agrawal was re-designated as Key Managerial Personnel (KMP) and ceased to be a Whole-time Director.
M/s. Bhattacharya Roy & Associates were approved as the Cost Auditor for FY27, subject to shareholder ratification. The Board also noted that VSL Green Power Private Limited, a wholly-owned subsidiary, will be a material subsidiary.
A significant capital expenditure of ₹3,726 crore was approved to establish a 6 GW backward-integrated wafer and ingot facility at their Gangaikondan site in Tamil Nadu, with commissioning expected by FY29. This facility is part of a larger 12 GW roadmap to be completed by FY30, aiming to transform the company into a fully integrated solar leader and reduce import reliance.
The financial results for the year ended March 31, 2026, show a Profit Before Tax of ₹6,464.91 crore and Total Comprehensive Income of ₹4,676.15 crore. The standalone assets stood at ₹56,357.70 crore, and liabilities at ₹24,628.41 crore. The company also completed its IPO of ₹20,793.69 crore, with shares listed on NSE and BSE on August 26, 2025.
The Board meeting commenced at 2:00 PM and concluded at 08:00 PM on May 07, 2026.
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Vikram Solar Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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