Vikram Solar shares plunge as Q1 results miss expectations

Kolkata‑based solar module maker Vikram Solar saw its stock drop about 10% to Rs 156.25 on the Bombay Stock Exchange after releasing first‑quarter results that fell short of analyst forecasts. The company reported a sharp rise in costs, with employee expenses up 56% year‑on‑year to Rs 55 crore, other operating costs up 46% to Rs 114 crore, depreciation up 34% and financial costs up 53%.

Analysts at JM Financial noted that the performance was a “large miss” compared with consensus expectations and kept an “ADD” rating pending further clarification. Vikram Solar also highlighted its plan to expand a backward‑integrated wafer and ingot facility in Gangaikondan, Tamil Nadu, increasing capacity from 6 GW to 9 GW by FY29.

The slump occurred amid a broader weakness in India’s green‑energy sector, where stocks such as Pace Digitek, Waaree Energies and other solar manufacturers struggled to hold gains as monsoon‑related market sentiment dampened enthusiasm for renewable‑energy equities.