Vikram Solar Q2 FY27: EBITDA/Watt Up 37%, 1.7 GW Orders Added

Vikram Solar announced its financial results for Q2 and H1 FY27, reporting a 37% sequential increase in EBITDA per watt despite a transitory dip in volumes. The company strengthened its business mix, with DCR contribution rising to 22% (from 7.5% in Q1 FY27) and distribution/retail volumes increasing to 44% (from 14%). Revenue from operations grew 17.7% year-on-year for H1 FY27. Vikram Solar added approximately 1.7 GW of new orders in Q2 FY27, significantly up from 0.8 GW in Q1 FY27. The 9 GW N-type TOPCon cell facility is on track for first cell production in December 2026, with plans for a 9 GW ingot and wafer facility by FY29. Additionally, its subsidiary VSL PowerHive is establishing a 7.5 GWh BESS plant, expected to commence commercial operations in April 2027.