Vikram Solar said that its board has approved a capital expenditure (capex) of about Rs 4,371 crore to be undertaken through wholly owned subsidiary, VSL Powerhive, for Phase 1 of its battery energy storage system (BESS).
Powerhives long-term roadmap outlines a planned 30 GWh of battery cell, module/pack, and BESS manufacturing capacity to be developed in a phased manner. As part of Phase 1, VSL Powerhive will commission a 5 GWh BESS manufacturing facility at Oragadam, Tamil Nadu by FY27.Further, the company is also advancing backward integration into battery cell manufacturing, with plans to set up a 7.5 GWh cell manufacturing facility that is expected to be fully operational by FY29, subject to receipt of applicable statutory and regulatory approvals. A core component of this venture will be a dedicated R&D lab, tasked with developing future-ready battery products and innovative solutions to maintain market leadership.
The proposed capital expenditure shall be funded through a combination of debt and equity.
Vikram Solar is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. The company is one of the largest PV module manufacturers in India with cumulative production capacity of 4.5 GW.
The company's consolidated net profit surged to Rs 128.49 crore in the quarter ended September 2025 as against Rs 7.36 crore during the previous quarter ended September 2024. Sales jumped 93.72% to Rs 1,109.91 crore in Q2 FY26 over Q2 FY25.
The scrip rose 0.06% to Rs 235.55 on the BSE.
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