Vikram Solar Ltd (VIKRAMSOLR) Q4FY26 Management Mirror - Mar-2026 Qtr
Production & Margins
Management introduced FY27 guidance targeting 7.5-8 GW of production to drive EBITDA of INR 1,500-1,600 crores, translating to EBITDA per watt-peak of INR 1.75-2.00 for Non-DCR and INR 2.00-2.50 for DCR, with post-integration targets of ~INR 5/Wp by Mar'28. Sequentially, Sep'25 Qtr broadly guided stable EBITDA margins at ~21%, Dec'25 Qtr refined Non-DCR expectations to 18-20% due to cell costs, and Mar'26 Qtr shifted entirely to a per-watt absolute metric for the new fiscal year. [Status: Initiated]
3 more themes on the ELITE plan.