Vikram Solar Shares Hit Record High On Robust Q1 Earnings

Shares of recently listed Vikram Solar surged over 13% on Wednesday after the company posted robust Q1FY26 results post-market hours on Tuesday. The stock hit a fresh high of ₹407.95, well above its issue price of ₹332.

Strong Show In Q1

The solar photovoltaic modules manufacturer reported a sharp jump in profitability, with net profit for the quarter rising to ₹133 crore compared with ₹24 crore in the same period last year. Revenue grew nearly 80% year-on-year to ₹1,135 crore, though it dipped slightly by 4% on a sequential basis from ₹1,183 crore in Q4FY25.

Operational performance also improved, with EBITDA at ₹244 crore against ₹114 crore a year ago. On a sequential basis, EBITDA rose 15.4%. The stock had closed 3.5% higher in the previous session.

Stock Trades Above Issue Price

The solar manufacturer made a modest market debut on August 26, listing at a 1.8% premium at ₹338 per share on the NSE, below the 11% premium in the grey market, an informal arena where IPO shares change hands before official listing.

The company’s ₹2,079-crore initial public offering witnessed robust investor interest and closed with an overall subscription of 54.63 times. Proceeds from the IPO are expected to fund capital expenditure via VSL Green Power’s Phase I and II projects and meet general corporate requirements.

What Is The Retail Mood?

Retail sentiment for Vikram Solar on Stocktwits shifted to ‘extremely bullish’ from ‘bullish’ a day earlier, amid ‘extremely high’ message volumes.

Earlier this week, Vikram Solar shares surged over 10% after the company won an order from L&T Construction to supply 336 MW of high-efficiency solar modules for the Khavda Renewable Energy Park in Gujarat.

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