Vikram Solar Approves FY26 Results, ₹3,726 Crore Capex for 6 GW Solar Facility
Vikram Solar's board approved audited standalone and consolidated financial results for FY26. Key appointments include Sameer Nagpal as CEO and re-appointments for Gyanesh Chaudhary and Ratnabali Kakkar. The company approved a ₹3,726 crore capex for a 6 GW wafer and ingot facility in Tamil Nadu, targeting completion by FY29.
The approval of a large capital expenditure for a new integrated facility and key leadership changes are material events that are likely to have a significant impact on the company's future operations and market position.
The announcement details the approval of financial results, significant capital expenditure for capacity expansion, and key management appointments, all of which are positive developments for the company.
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's statutory auditors, M/s GARV & Associates, issued an unmodified opinion on these results.
The board also approved several key appointments and re-appointments. Mr. Sameer Nagpal was appointed as Whole-time Director and Chief Executive Officer (KMP) effective May 07, 2026. Mr. Gyanesh Chaudhary, Chairman & Managing Director, was re-appointed for a further period of 3 years effective September 28, 2026. Ms. Ratnabali Kakkar, Independent Director, was re-appointed for another term of 5 years effective December 12, 2026. Additionally, Ms. Neha Agrawal was re-designated as Key Managerial Personnel (KMP) as Senior Vice President – Corporate Strategy, ceasing to be Whole-time Director from May 07, 2026.
Furthermore, M/s. Bhattacharya Roy & Associates were re-appointed as the Cost Auditor for the Financial Year 2026-27, 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 the Gangaikondan site in Tamil Nadu, with commissioning expected by FY29. This is the first phase of a 12 GW roadmap targeted for completion by FY30, aiming to position Vikram Solar as a fully integrated solar leader and address India's need for supply chain indigenization. The meeting commenced at 2:00 PM and concluded at 08:00 PM.
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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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