• EBITDA growth targets: After posting a 74% EBITDA increase in FY26 compared to FY25, Vikram Solar expects absolute EBITDA to expand by 1.7 times (a 70% jump) in FY27 over FY26, supported by capacity expansion and DCR cell agreements.
• Backward integration capex: The board approved a ₹3,700 crore capex for a 6 GW wafer and ingot project, alongside a Tamil Nadu facility funded at a 3:1 debt-equity ratio to meet ALMM domestic sourcing mandates by FY28.
• Order book visibility: The company holds an 8.2 GW order book—including over 7 GW tied to DCR modules—securing production offtake through June 2027, alongside a 1 GW export pipeline for the US market.
• BESS segment expansion: A 5 GW battery energy storage assembly plant will launch this year with an initial ₹300 crore revenue target, with dedicated cell manufacturing scheduled for commissioning by September 2028.