Vikram Solar Limited — Quarter and year ended March 31, 2026
| Sr. No. | Particulars | Three Months Ended | Year ended |
|---|---|---|---|
| 31-Mar-26 Audited Refer Note-4 |
31-Dec-25 Unaudited Refer Note-3 |
||
| 1 | Income | ||
| (i) Revenue from Operations | 14,525.97 | 11,057.70 | |
| (ii) Other Income | 183.72 | 200.59 | |
| Total Income | 14,709.69 | 11,258.29 | |
| 2 | Expenses | ||
| (i) Cost of materials & services consumed | 10,507.43 | 7,986.38 | |
| (ii) Changes in inventories of finished goods and work-in-progress | (20.68) | (362.47) | |
| (iii) Employee benefits expense | 468.02 | 353.44 | |
| (iv) Finance costs | 564.78 | 401.27 | |
| (v) Depreciation and amortisation expense | 571.02 | 365.11 | |
| (vi) Other expenses | 1,226.12 | 1,046.69 | |
| Total expenses | 13,316.69 | 9,790.42 | |
| 3 | Profit before exceptional items and tax (1-2) | 1,393.00 | 1,467.87 |
| 4 | Exceptional Item | 56.15 | |
| 5 | Profit before tax (3-4) | 1,393.00 | 1,411.72 |
| 6 | Tax expense : | ||
| (i) Current Tax | (63.00) | 411.70 | |
| (ii) Deferred Tax | 356.26 | 35.67 | |
| Total tax expense | 293.26 | 447.37 | |
| 7 | Profit for the period (5-6) | 1,099.74 | 964.35 |
| 8 | Other Comprehensive Income Items that will not be subsequently reclassified to profit or loss |
||
| (a) Net gain / (losses) on fair value of Equity Instruments designated at FVTOCI (net of tax) | (19.44) | – | |
| (b) Re-measurement gain / (loss) on defined benefit plans (net of tax) | 4.31 | 3.62 | |
| Other comprehensive income (net of tax) | (15.13) | 3.62 | |
| 9 | Total comprehensive income for the period (7+8) | 1,084.61 | 967.97 |
| 10 | Paid-up Equity Share Capital (Face value of ₹ 10/- each) | 3,623.30 | 3,623.30 |
| 11 | Other Equity | ||
| 12 | Earnings per equity share: (Not Annualised except for the year) | ||
| Basic (in ₹) | 3.04 | 2.66 | |
| Diluted (in ₹) | 3.02 | 2.66 |
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 5,398.82 | 4,882.87 |
| (b) Right of use assets | 5,203.58 | 355.08 |
| (c) Capital work in progress | 189.28 | 136.56 |
| (d) Intangible assets | 188.96 | 97.85 |
| (e) Financial assets | ||
| (i) Investments | 7,424.15 | 1,189.12 |
| (ii) Others | 3,724.38 | 1,992.34 |
| (f) Other assets | 476.55 | 17.14 |
| Total non-current assets | 22,605.72 | 8,670.96 |
| Current assets | ||
| (a) Inventories | 8,152.67 | 4,285.16 |
| (b) Financial assets | ||
| (i) Trade receivables | 12,140.06 | 12,283.94 |
| (ii) Cash and cash equivalents | 99.07 | 306.74 |
| (iii) Bank balances other than (ii) above | 9,820.59 | 1,493.93 |
| (iv) Loans | 9.02 | 9.02 |
| (v) Others | 574.64 | 280.05 |
| (c) Other assets | 2,893.55 | 1,161.08 |
| (d) Current tax assets (net) | 62.38 | – |
| Total current assets | 33,751.98 | 19,819.92 |
| Total assets | 56,357.70 | 28,490.88 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 3,623.30 | 3,165.36 |
| (b) Other equity | 28,105.99 | 9,407.09 |
| Total equity | 31,729.29 | 12,572.45 |
| Liabilities | ||
| Non-current Liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | – | 773.96 |
| (ii) Lease liabilities | 4,243.53 | 321.35 |
| (iii) Others | 75.00 | 75.00 |
| (b) Provisions | 330.43 | 264.70 |
| (c) Deferred tax liabilities (net) | 958.48 | 520.22 |
| (d) Deferred income from grant | – | 24.37 |
| Total non-current liabilities | 5,607.44 | 1,979.60 |
| Current Liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 1,000.73 | 1,532.71 |
| (ii) Lease liabilities | 925.41 | 91.34 |
| (iii) Trade payables | ||
| – total outstanding dues of micro enterprises and small enterprises | 377.57 | 508.21 |
| – total outstanding dues of creditors other than micro enterprises and small enterprises | 14,981.61 | 7,749.72 |
| (iv) Others | 384.19 | 1,082.15 |
| (b) Other current liabilities | 1,314.37 | 2,820.56 |
| (c) Provisions | 12.72 | 3.43 |
| (d) Current tax liabilities (net) | – | 126.34 |
| (e) Deferred income from grant | 24.37 | 24.37 |
| Total current liabilities | 19,020.97 | 13,938.83 |
| Total liabilities | 24,628.41 | 15,918.43 |
| Total equity and liabilities | 56,357.70 | 28,490.88 |
| Particulars | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|
| A. Cash Flow from Operating Activities | ||
| Profit before tax | 6,464.91 | 2,161.53 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 1,619.91 | 1,559.80 |
| Finance costs | 1,604.04 | 1,546.57 |
| Interest income | (532.06) | (179.18) |
| Allowance for expected credit loss | 19.49 | 245.63 |
| Unrealised Foreign Exchange Difference | 145.55 | 63.62 |
| Government Grant related to property, plant and equipment | (24.37) | (142.04) |
| Liability Written back | (2.48) | (4.70) |
| Provision for warranties | 125.62 | 83.42 |
| Employee stock option plan expenses | 144.29 | 60.45 |
| Loss on sale / disposal of property, plant and equipment | 3.56 | – |
| Operating profit before working capital changes | 9,568.46 | 5,395.10 |
| Movement in working capital: | ||
| Increase in inventories | (3,867.51) | (401.18) |
| Increase / (Decrease) in financial and non financial liabilities | 5,102.69 | (679.46) |
| Increase in financial and non financial assets | (2,610.49) | (1,153.49) |
| Cash Generated from operations | 8,193.15 | 3,160.97 |
| Income tax paid (net of refund) | (1,523.72) | (262.31) |
| Net cash flow from operating activities | 6,669.43 | 2,898.66 |
| B. Cash Flow from Investing Activities | ||
| Payment for acquisition of property, plant and equipment, CWIP and intangible assets | (2,830.91) | (1,061.91) |
| Proceeds from sale/ disposal of property, plant and equipment | 1.75 | – |
| Purchase of non-current investment | (7,389.30) | (805.18) |
| Intercorporate loan given | (341.87) | (504.64) |
| Intercorporate loan received back | 341.87 | 807.10 |
| Net increase in fixed deposits and other bank balances | (8,326.66) | (385.21) |
| Interest received | 467.51 | 196.74 |
| Net cash (used in) investing activities | (18,077.61) | (1,753.10) |
| C. Cash flow from Financing Activities | ||
| Repayment of long term borrowings | (1,137.22) | (1,277.12) |
| Decrease in cash credit and demand loan from banks (net) | (171.66) | (3,537.96) |
| Proceeds from issue of equity shares (including share premium) (net) | 14,314.25 | 6,526.46 |
| Repayment from other short term borrowings | – | (964.92) |
| Repayment of lease liabilities | (85.88) | (47.11) |
| Interest paid on leasing liabilities | (221.50) | (43.90) |
| Interest paid | (1,497.48) | (1,578.72) |
| Net cash flow from/ (used in) financing activities | 11,200.51 | (923.27) |
| Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) | (207.67) | 222.29 |
| Cash and Cash Equivalents at the beginning of the year | 306.74 | 84.45 |
| Cash and Cash Equivalents at the end of the year | 99.07 | 306.74 |
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| Components of Cash & Cash Equivalents | ||
| Balance with Banks | ||
| – In current and cash credit accounts | 93.54 | 20.64 |
| – Fixed deposit with original maturity of less than 3 months | – | 280.00 |
| Cash on hand | 5.53 | 6.10 |
| Cash and Cash Equivalents | 99.07 | 306.74 |
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 5,401.94 |