Vikram Solar: NCLAT Stays Insolvency Proceedings

Vikram Solar Limited announced that the Hon'ble National Company Law Appellate Tribunal (NCLAT) has stayed the operation of an order admitting a petition filed by Isitva Steels Private Limited under the Insolvency and Bankruptcy Code, 2016. This stay effectively halts the corporate insolvency resolution process against Vikram Solar until the next listing date. The company reiterated its solvent and financially sound status, reporting a Fiscal 2026 revenue of INR 4,802.25 crores and a profit-after-tax of INR 470.42 crores. Vikram Solar highlighted its market leadership, substantial assets, ongoing operations, strong liquidity, and zero long-term debt as of March 31, 2026. The net working capital cycle improved significantly to 44 days from 82 days in the previous fiscal year. Management is committed to protecting stakeholder interests.