Vikram Solar Approves FY26 Results, ₹3,726 Crore Capex for 6 GW Solar Facility
Vikram Solar Limited approved audited financial results for the quarter and year ended March 31, 2026. Mr. Sameer Nagpal was appointed Whole-time Director & CEO. The company approved a ₹3,726 crore capex for a 6 GW wafer and ingot facility by FY29.
The approval of a ₹3,726 crore capex for a new 6 GW facility is a substantial investment that will significantly impact the company's future operations and market position as a fully integrated solar leader. Key management changes also contribute to the high impact.
The announcement details positive developments including the approval of financial results, significant capital expenditure for capacity expansion, and key management appointments, indicating growth and strategic 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 Statutory Auditors, M/s. GARV & Associates, issued an unmodified opinion on these results.
Key management changes were approved, including the appointment of Mr. Sameer Nagpal 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. 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.
The Board also approved the re-appointment of M/s. Bhattacharya Roy & Associates as the Cost Auditor for the Financial Year 2026-27, subject to shareholder ratification.
Furthermore, Vikram Solar Limited approved a significant capital expenditure of ₹3,726 crore to establish a 6 GW backward-integrated wafer and ingot facility at its Gangaikondan site in Tamil Nadu by FY29. This marks the first phase of a 12 GW roadmap planned for commissioning by FY30, aiming to transform the company into a fully integrated solar leader and address India's need for supply chain indigenization.
The company also noted that VSL Green Power Private Limited, a wholly owned subsidiary, will be a material subsidiary.
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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