Vikram Solar, one of the leading Indian solar module manufacturers, is planning to commission a total of 11 GW module manufacturing facilities in Tamil Nadu by this fiscal-end, raising its installed module manufacturing capacity to 15.5 GW.
The Kolkata-based company is looking to commission 5 GW and 6 GW module manufacturing units at Vallam and Gangaikondan in Tamil Nadu in the third quarter and fourth quarter, respectively.
During an earnings conference call, the company’s management said the Vallam module manufacturing facility will be the single largest expansion undertaken by Vikram Solar in a record time of six months. The project will have four lines of 1.25 GW each.
“Two lines adding up to 2.5 gigawatt are expected to commission in November, while the balance two lines are expected to commission in December. These additions will take the overall model manufacturing capacity from the present 4.5 gigawatt to 9.5 gigawatt,” Vikram Solar Chief Financial Officer Ranjan Jindal said during the company’s Q2FY26 earnings conference call.
At Gangaikondan, the company is developing 6 GW module and 12 GW of cells manufacturing facilities on around 186 acres of land.
Installed capacity
“All the pre-construction approvals are in place. Construction work is going on in full swing. The equipment ordering for the 6 gigawatt module has also been done, and the facility is planned to be commission in Q4FY26. With this addition, our installed module capacity at the end of the fiscal shall stand at 15.5 gigawatts,” Jindal said.
The 12 GW cell manufacturing project will be executed in two phases. “By end of next fiscal (FY27), we will have our own cell manufacturing facility, which will ensure about 75 per cent backward integration to the overall module plan,” the CFO said.
The company’s capital expenditure plan for the current financial year is around ₹1,000 crore, and of that it has so far spent around ₹200 crore.
Vikram Solar has reported over 17-fold year-on-year jump in its consolidated net profit to ₹128.49 crore for the second quarter of this fiscal, as its revenue almost doubled during the period. Revenue from operations rose to ₹1,109.91 crore during Q2FY26 from ₹572.94 crore in Q2FY25.
“Meaningful progress has been made on strengthening our foundation across technology and governance, while remaining sharply focused on profitable execution and progressing on various projects on the expansion front. The solar industry continues to be a central pillar of the India’s energy transition landscape, policy support, growing adoption across segments, and rapid build out of domestic manufacturing capacity are creating an exciting growth runway; Vikram Solar is well positioned to play a leading role in this transition,” said Chairman & Managing Director Gyanesh Chaudhary.
Published on October 21, 2025