Updates on theproceedings before the Hon ble NCLAT
As filed · Vikram Solar Limited has informed the Exchange about the updates on theproceedings before the Hon ble NCLAT
What happened
FactVikram Solar Limited has received a stay from the Hon’ble National Company Law Appellate Tribunal on the corporate insolvency resolution process initiated against it, allowing the company to remain operational. The company reported a total revenue of INR 4,802.25 crores and a profit-after-tax of INR 470.42 crores for the fiscal year 2026, and it maintains a strong liquidity position with no long-term debt. The management is committed to upholding governance standards and…
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
DelayedWe are confident of finalizing the land and the incentives by September 2026.
The tentative commercial operation date we are targeting is Q4 FY29.
Change
FactImplication
CapitSignal interpretationCapex
DelayedAdditionally, we are strategically backward integrating into solar cell manufacturing which gives us supply chain security and cost competitiveness and strengthens our position across the value chain.
We expect the plant to get installed in the month of January 2027 and the target date for commercial operations is from March 2027.
Change
FactImplication
CapitSignal interpretationMargins
RevisedEBITDA grew by an impressive 117.3% to Rs. 242.2 Cr.
PAT too witnessed a strong growth of 483.9%, standing at Rs. 133.4 Cr.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
- CELL PLANT Ph-I 9 GW | FAB VI FCO: Dec'26 (management committed by Q3 FY27)
- MODULE PLANT 6 GW | FAB V FMO: Jun'26 (management committed by Q1 FY27)
Evidence
- Vikram Solar Limited has informed the Exchange about the updates on theproceedings before the Hon ble NCLAT(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY26
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY26
- Latest statement · Q1 FY26
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; +2 corroborating keywords; +5 quantified amount; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%