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Vikram Solar Limited — Q1FY27 Earnings Call Summary
Key Takeaways
- Cell plant commissioning on track for Q4 FY27; 9 GW cell and wafer-ingot capacity planned
- Order book 7.9 GW non-DCR; DCR mainly through distribution channel; execution clarity expected next quarter
- Capex INR500 Cr deployed in Q1; INR4,700 Cr planned for FY27 for integrated Gangaikondan facility
- EBITDA INR126 Cr, margin 8.06%, PAT INR19.78 Cr; margin impacted by raw material cost inflation
- DCR modules sold 76 MW in Q1, expected to grow 2-2.5x each quarter; DCR yields higher realization
- Q1FY27 revenue grew 38% y-y to INR1,563 Cr; volume 1,006 MW, +32% y-y
- Cost pressures mainly from metals and crude-linked inputs; cost optimization programs underway
- Net debt negligible; no long-term debt; capex funded with internal accruals and planned debt
- Management cautious on margin recovery in Q2; awaiting policy clarity on ALMM 2 deferment
- Distribution channel expanding with 119 distributors, 757 dealers; mid-market sales team doubled
📄 Source: View original transcript (PDF)
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Summary generated by AI from the official transcript filed on BSE/NSE. Not investment advice.