VIKRAMSOLRNSE10 September 2025

Vikram Solar Limited has informed the Exchange about Investor Presentation

Vikram Solar Limited

September 10, 2025

BSE Ltd. Department of Corporate Services P. J. Towers, Dalal Street, Mumbai – 400 001.

(Scrip Code: Equity - 544488)

Dear Sir/ Madam,

VSL/CS/196/2025 dated 10.09.2025

National Stock Exchange of India Ltd. Listing Department Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051 (Symbol: VIKRAMSOLR, Series EQ)

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 – Investors Presentation on Q1FY26

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the copy of Q1FY26 Investor Presentation of the Company for the quarter ended June 30, 2025.

We request you to kindly take the aforesaid information on record.

Thanking You,

For and on behalf of VIKRAM SOLAR LIMITED

SUDIPTA BHOWAL Company Secretary & Compliance Officer

Encl. As Above

Investor Presentation Q1 FY2026

| PAGE 1

Safe Harbour

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vikram Solar Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.

V i k r a m S o l a r L i m i t e d

About Vikram Solar

Introduction

4.5 GW Module manufacturing capacity

17.5 GW Planned Capacity in India (FY27)

Reliable BRAND in Solar Solutions for the World’s Clean Energy Future

12 GW Solar Cell

5 GWh BESS

7.88 GW

Manufacturing Capacity Planned (FY27)

Modules Sold since Inception*

10.96 GW Order Book*

>2X of Total Rated Capacity

One of India's largest Solar PV module manufacturer, growing from 4.5 GW operational capacity in FY25 to 17.5 GW in 2 years

12 GW capacity backward integrated to cell by FY27, poised to capitalize the large DCR market (including ALMM List-II compliance)

Automatic turnkey module production line with robotic process automation to enhance agility and efficiency; entirely compliant with N-Type Technology

8th time featured in KIWA PVEL Reliability Scorecard Top

Performer list

6th consecutive quarter Tier-1 Manufacturer in bankability test (Bloomberg NEF rankings)

NABL and ILAC MRA Accredited lab consistently producing accurate testing, sampling and calibration results

Designed and installed the world’s first fully solarized airport in Kochi, Kerela of 100kW capacity

Featured in the KIWA Photo-Voltaic Evolution Labs (PVEL) module reliability scorecard for the 8th time since 2017

Listed as one of the first few players to introduce half-cut cell module technology in India as per ALMM notified by MNRE in March 2021

*As on 30th June 2025

V i k r a m S o l a r L i m i t e d

Legacy Built on Strong Brand Recognition and Reliability

VISION

To become one of the most valuable solar company delivering benchmark sustainable energy solutions worldwide

MISSION

Deliver reliable solar solutions through world class technology and innovation

Incorporated

Contributed to 1st Fully Solarized Airport

500 MW Production Capacity

Rooftop Project : 2.15 MW 200 MW project in AP

3.5 GW production capacity. NABL Accredited Lab

4.5 GW production capacity Won 1 GW module supply order

2005

2013

2015

2019

2023

2025

2011

2014

2017

2022

2024

2025

3MW Capacity Installed

BNEF Tier 1 Manufacturer List

1 GW Production Capacity

2.5 GW annual rated production capacity

PVEL : 8th Time Top performer BNEF Tier 1 : module manufacturer

Listed on Stock Exchanges BSE & NSE

V i k r a m S o l a r L i m i t e d

State of the Art Manufacturing Facilities

Tamil Nadu

West Bengal

Both facilities are certified with •

ISO 14001:2015,

•

ISO 45001:2018,

ISO 9001:2015,

ISO/IEC 27001:2013 &

SA 8000:2014

Location

Capacity

Chennai

1.3 GW

Falta Sez, Kolkata

3.2 GW

Area

>1,00,000 sq. feet

>4,50,000 sq. feet

All facilities are N-Type and MONO-PERC capable

Automatic turnkey module production lines with robotic process automation

Real time data capturing and machine, manufacturing process monitoring

V i k r a m S o l a r L i m i t e d

Robust Dealer & Distributor Network

Presence in

States

Union Territories

With

95+

Authorized Distributors

375+

Dealers Pan India

75+

Systems Integrators

Capitalize on demand from rooftop-based solar solutions

Pan-India presence through extensive distributor & dealer network

Launched Digital Platform for distributor network & customer relationship management

Manufacturing Plant

Authorized Distributors

Map not to scale

V i k r a m S o l a r L i m i t e d

Vikram Solar’s Competitive Edge

Scale & Size ✓ Two Manufacturing locations at proximity to the ports ✓ 4.5GW of annual operational capacity to be expanded to 17.5GW by FY27

Reliability ✓ 8th time feature in KIWA PVEL Reliability Scorecard Top Performer list

Strong R&D Focus ✓ NABL accredited and ILAC MRA accredited Lab ✓ 196 Members in R&D and QC team

Technology ✓ Automated manufacturing process ✓ SAP/BI based control algorithms to track product quality ✓ In-house R&D driving innovation and cost-efficiency

Product Improvements in last 2 Decades ✓ Continuously improved module wattages and efficiencies ✓ Wattages improved from 200W to 735W; 250%+ growth ✓ Efficiencies improved from 11.5% to 23.66%, 100%+ growth

Brand ✓ One of India’s leading module manufacturers with global presence ✓ Recognized for quality Certifications and customer trust

Our Brands

Tech & Specifications

- HJT-Technology - Bifacial Solar cells - Up to 23.66% Efficiency - 710-735W

- N-Type - Bifacial Solar cells - Up to 23.51% Efficiency - 690-715W

- MONO-PERC - Bifacial Solar cells - Up to 22.01% Efficiency - 655-680W

- MONO-PERC - Bifacial Solar cells - Up to 21.89% Efficiency - 655-680W

- MONO-PERC - Monofacial Solar cells - Up to 21.94% Efficiency - 655-680W

V i k r a m S o l a r L i m i t e d

Brand Building through Strategic Campaigns

BRAND STRATEGY IN ACTION

Customer Focused

Campaigns tailored to B2B and B2C needs

Emotional + Product Appeal

Hanji builds trust, G12R showcases innovation

Trust & Quality

Precision Outreach

360° Brand Presence

Backed by Tier-1 status, strong warranties, and industry awards

Programmatic ads, influencers, and regional targeting

Consistent voice across TV, digital, print, OOH, and sports

VISUAL SHOWREEL OF CAMPAIGNS

Khushiyon wali Sunshine

G12R Launch Campaign (Product-led, High-tech credibility)

Hanji Campaign & TVC (Mass media appeal)

“KKR Partnership” (Sports Sponsorship - Brand each & Mass Recall)

V i k r a m S o l a r L i m i t e d

Future Ready with Capacity Expansion & Backward Integration

India expansion plans and project timeline in place to reach 17.5 GW Module & 12 GW Cell Capacity by FY 2027

Modules (GW)

Solar Cells (GW)

17.5

by establishing a Solar Cell manufacturing facility in

Strategically Integrating Backward into the solar value chain

15.5

Gangaikondan, Tamil Nadu

12.0

3.5

4.5

2.5

FY 2023

FY 2024

FY 2025

FY 2026E

FY 2027E

Expanding Module Manufacturing Capacity to 17.5 GW

Backward Integration into Solar Cell Manufacturing with 12 GW Capacity

Strengthening the Value Chain, Accelerating Growth

V i k r a m S o l a r L i m i t e d

Project Updates

Vallam, Tamil Nadu (5GW Module)

Gangaikondan, Tamil Nadu (6GW Module + 12GW Cell)

Strategic Partnerships to Strengthen Project Execution

Project Status

✓ Engineering & Procurement Complete ✓ Delivery & Construction in full swing ✓ Commissioning expected as per project

timelines

✓ Long lead engineering & procurement

complete

✓ All preconstruction approvals received ✓ Production equipment tied up & construction

in full swing

Project Management Partner

Integrated Turnkey Partner

Equipment Vendors and System Integrators

Technology Partner

Design Engineering Partner

Driving timely project completion through Strategic Partnerships and Proven Execution Track Record

V i k r a m S o l a r L i m i t e d

Q1FY26 Financial & Operational Highlights

Key Updates

Secured 250 MW Solar Module Supply Order from Bondada Group in Maharashtra

Secured Solar Module Supply Orders of 326 MW and 336 MW from GIPCL and L&T respectively

Launched its first ever TVC ad campaign — ‘Khushiyon Wali Sunshine’

Recognized as Top Brand PV India 2025 From EUPD Research

Achieved “Top Performer 2025” Status in Kiwa PVEL’s PQP for the 8th Time

Received an EcoVadis Platinum Medal, ranking it in the top 1% worldwide for sustainability performance

V i k r a m S o l a r L i m i t e d

Key Operational Highlights – Q1 FY26

Order Book*

Revenue (INR Cr)

Gross Profit (INR Cr)

80%

1,134

95%

356

10.96 GW

631

182

Q1FY25

Q1FY26

Q1FY25

Q1FY26

EBITDA (INR Cr)

EBITDA Margin (%)

117%

242

370 bps

21.4%

17.7%

111

PAT (INR Cr)

484%

133

Q1FY25

Q1FY26

Q1FY25

Q1FY26

Q1FY25

Q1FY26

*As on 30th June 2025

V i k r a m S o l a r L i m i t e d

Consolidated Profit & Loss Statement – Q1 FY26

Profit and Loss (INR Cr)

Revenue from Operations

Cost of Goods Sold

Gross Profit

Gross Profit Margin

Employee Cost

Other Expenses

EBITDA

EBITDA Margin

Depreciation

Other Income

EBIT

EBIT Margin

Finance Cost

Exceptional Item Gain / (Loss)

Profit before Tax

Profit before Tax Margin

Tax

Profit After Tax

Profit After Tax Margin

EPS (Basic)

Cash PAT*

Q1FY26

Q1FY25

1,133.6

777.8

355.8

31.4%

35.4

78.2

242.2

21.4%

33.5

4.2

212.9

18.8%

32.3

0.0

180.6

15.9%

47.2

133.4

11.7%

4.21

166.9

630.9

448.6

182.3

28.9%

26.6

44.2

111.5

17.7%

37.3

6.2

80.4

12.7%

44.9

0.0

35.5

5.6%

12.7

22.8

3.6%

0.75

60.1

YoY

79.7%

95.2%

250 bps

117.3%

370 bps

164.9%

610 bps

408.7%

1,030 bps

483.9%

810 bps

FY25

3,423.5

2,554.6

868.9

25.4%

124.4

252.5

492.0

14.4%

156.0

36.1

372.1

10.9%

154.7

0.0

217.4

6.3%

77.6

139.8

4.1%

4.61

177.5%

295.8

FY24

2,511.0

1,678.9

832.1

33.1%

96.3

337.2

398.6

15.9%

138.0

12.9

273.5

10.9%

154.6

11.6

107.3

4.3%

27.6

79.7

3.2%

3.08

217.7

YoY

36.3%

4.4%

(770 bps)

23.4%

(150 bps)

36.0%

102.6%

200 bps

75.4%

90 bps

35.9%

*Cash PAT = PAT + Depreciation

V i k r a m S o l a r L i m i t e d

Annexures

Multiple drivers supporting India’s moment in the Energy- Transition Supercycle

Energy and Energy transition supply chain trends

Domestic tailwinds that fuel this megatrend

AI to drive energy demand

Solar + Storage Boom imminent

Policy support to scale supply chain

Shift to a self- sustaining market

Integrated players to win the market

PM KUSUM

CPSU & Grid Connected scheme

PLI

PM Surya Ghar Muft Bijli Yojana

ALMM List 1 & 2

Net zero target by 2070

3,700 GW Global additions till 2030(1)

180 GW India’s solar additions by 2030

236 GWh India’s Storage target(2) by 2030

10,830 GW India’s Solar Potential(3)

1. 2. 3.

As per Crisil Report As per National electricity plan by CEA As per TERI report, 2025

V i k r a m S o l a r L i m i t e d

India’s energy transition underway: solar demand set to soar backed by a rapidly unfolding supply chain

Clear runway for Solar to lead the renewable energy capacity mix; policy tailwinds such as RPO, Green energy corridor making solar preferred choice for future capacity additions

Energy Outlook

Coal

Gas

Diesel

Nuclear

Large Hydro

Renewable

221

Solar Target 2030

185

280 GW

116

Domestic Demand

Domestic installation additions (AC) in GW

Module demand - 1.5X DC OVERLOADING

Open Access

Rooftop

Utility

24 3 6

25 3 5

26 3 5

As on 30th June 2025

Solar Wind

Bio power

Small Hydro

FY25

FY26P

FY27P

FY28P

FY29P

FY30P

Comprehensive Policy Support

Infrastructure

ALMM

Renewable

Installations

H1 CY 2025

Solar

Other Renewable

Demand-side

Supply-side

Infrastructure

DCR Focused Schemes

▪ Net Zero by 2070 ▪ National Green Hydrogen Mission (125

GW)

▪ CPSU Scheme Phase II (12 GW) ▪ Government bidding of

50GW annually

▪ Renewable Purchase obligation

trajectory up to 2030 ▪ Green Ammonia Push

▪ PLI scheme for solar PV

▪

(48GW bids)

▪ ALMM ▪ BCD on Modules and

cells

▪ Domestic Content

Requirement ▪ State incentives

Issued Transmission System plan for integration of over 500 GW of RE power

▪ Ultra-mega renewable energy

parks

▪ Green energy Corridor

scheme

▪ T&D Infrastructure growing at

3-7% CAGR

▪ CPSU Scheme Phase II (12 GW) ▪ Government bidding of 50GW annually, DCR

offtake 25-30%

Rooftop Demand ▪ KUSUM Scheme (34.8 GW) ▪ PM Surya Ghar Muft Bijli Yojana (30 GW)

(1)

ALMM-II

75+

Source: CRISIL Report and Company Estimates 1. By March 2026

V i k r a m S o l a r L i m i t e d

Experienced Board of Directors & Advisory Board

Hari Krishna Chaudhary Chairperson - Emeritus

Board of Directors

Gyanesh Chaudhary Chairman & Managing Director

Krishna Kumar Maskara Interim CEO and Whole-Time Director

Neha Agrawal Whole-time director & Head Corporate Strategy

Subramanya Krishnappa Independent Director

Ratnabali Kakkar Independent Director

Sumit Binani Additional Independent Director

>24 years of experience in the solar and tea industry

>20 years of experience in finance and the solar industry

>14 years of experience in consultancy and the solar industry

>42 years of experience in the solar and renewable energy industry

Extensive experience in wealth management industry

Management degree from IIM Kolkata, CA, CS and ICWA with rich experience in capital markets industry

Advisory Board

Dr. Alok Srivastava Chairman

Santi Pada Gon Chaudhuri Advisor

J.P. Dua Advisor

Suresh G Menon Advisor

Pankaj Agrawal Advisor

Jyotirmoy Roy Advisor

Jasbir Singh Bajaj Advisor

V i k r a m S o l a r L i m i t e d

Led by a Professional Management Team

Gyanesh Chaudhary Chairman & Managing Director

Krishna Kumar Maskara Interim CEO and Whole-Time Director

Neha Agrawal Whole-time director & Head Corporate Strategy

>24 years of experience in the solar and tea industry

>20 years of experience in finance and the solar industry

>14 years of experience in consultancy and the solar industry

Ranjan Kumar Jindal Chief Financial Officer

Kunal Motwani Chief Operating Officer

>20 years of experience in financial planning, treasury, risk assessment, and corporate finance

>20 years of experience in branding strategies and marketing campaigns

Santosh Goyal Chief Commercial Officer

Anil Bhadauria Head Manufacturing Operations

Sumit Kumar Head Operations – Manufacturing & Technology

Arindam Chakraborty Head – Global Human Resources

Rony Banerjee Head India Sales

>16 years of experience in exports and supply chain management

>35 years of experience in manufacturing, process excellence, & operational leadership across clean energy & telecom sectors

>20 years of experience in technology, manufacturing and R&D in the solar industry

>25 years of experience in human resource management across talent strategy, engagement, & succession planning

>25 years of experience in revenue growth strategy, sales planning, & commercial leadership across life sciences & diagnostics

Member of both Board and Leadership Team

V i k r a m S o l a r L i m i t e d

Quantifying our ESG Impact

s u c o F r u O

a e r A

R S C g n v i r D

s e v i t a i t i n

s d r a w A

Environment

Social

Scope 2 Emissions Reduction

Climate Change

Workforce Diversity & Inclusion, Occupational

Energy Management

Greenhouse Gas

Water Stewardship

Health & Safety, Community Engagement

Governance

Monitoring Waste Management

Solarization of manufacturing Plants

Ethical Conduct, Risk Mitigation, Leadership

Supply Chain Ethics & Policy Compliance

899 Kwp Falta Rooftop Solar facility

Renewable Energy Power Purchase Agreement Sourcing power for Oragadam facility

EcoVadis Platinum Badge

2025

Certificate of Participation

2024

Certificate of Endorsement

2024

QEOHS Policy Certificate

2018

Sustainable Development Goals

Company of the Year: Module Domestic (Platinum) & Smart Technology Innovation of the Year (domestic manufacturer)

Gold Medal NAMC 2023-24 by International Research Institute for Manufacturing

Best Project of the Year Ground Mount Category 2024

Aligned to National & International frameworks

Notable Awards

V i k r a m S o l a r L i m i t e d

Key Operational Highlights - Historical

Total Rated Capacity (MW)

Module Sales (MW)

Total Order Book Quantity (MW)

+13%

4,500

3,500

1,900

+80%

879

588

2,787

10,341

+93%

4,376

FY23

FY24

FY25

FY23

FY24

FY25

FY23

FY24

FY25

Revenue (INR Cr)

EBITDA (INR Cr)

PAT (INR Cr)

+29%

2,511

3,423

2,073

+63%

399

492

186

140

+211%

FY23

FY24

FY25

FY23

FY24

FY25

FY23

FY24

FY25

CAGR Growth

V i k r a m S o l a r L i m i t e d

Historical Consolidated Profit & Loss Statement

Profit and Loss (INR Cr)

Revenue from Operations

Cost of Goods Sold

Gross Profit

Gross Profit Margin

Employee Cost

Other Expenses

EBITDA

EBITDA Margin

Depreciation

Other Income

EBIT

EBIT Margin

Finance Cost

Exceptional Item Gain / (Loss)

Profit before Tax

Profit before Tax Margin

Tax

Profit After Tax

Profit After Tax Margin

EPS (Basic)

Cash PAT*

FY25

3,423.5

2,554.6

868.9

25.4%

124.4

252.5

492.0

14.4%

156.0

36.1

372.1

10.9%

154.7

0.0

217.4

6.3%

77.6

139.8

4.1%

4.61

295.8

FY24

2,511.0

1,678.9

832.1

33.1%

96.3

337.2

398.6

15.9%

138.0

12.9

273.5

10.9%

154.6

11.6

107.3

4.3%

27.6

79.7

3.2%

3.08

217.7

FY23

2,073.2

1,616.6

456.6

22.0%

91.2

179.2

186.2

9.0%

63.9

18.6

140.9

6.8%

122.0

0.0

18.9

0.9%

4.4

14.5

0.7%

0.56

78.4

CAGR

28.5%

38.0%

62.6%

62.5%

239.4%

210.6%

94.2%

*Cash PAT = PAT + Depreciation

V i k r a m S o l a r L i m i t e d

Mar-25

Mar-24

Mar-23

Equity & Liabilities (INR Cr)

Mar-25

Mar-24

Mar-23

Historical Consolidated Balance Sheet

Assets (INR Cr)

Non - Current Assets

Property, plant and equipment

Capital work-in-progress

Right-of-use assets

Intangible assets

Intangible assets under development

Financial Assets

Other Financial Assets

Deferred tax assets (net)

Other non-current assets

Current Assets

Inventories

Financial Assets

671.3

488.3

62.6

56.3

9.8

0.0

51.8

0.1

2.4

607.2

449.4

27.8

49.4

6.7

0.0

56.5

0.0

17.4

723.4

572.4

17.1

60.8

11.2

0.7

55.1

0.1

6.0

2,160.8

1,978.3

1,752.9

428.6

393.3

373.2

(i) Trade receivables

1,228.6

1,185.3

959.0

(ii) Cash and cash equivalents

39.2

9.0

1.6

(iii) Bank balances other than cash and cash equivalents

Loans

Other Financial Assets

Current Tax Assets (Net)

Other Current Assets

Total Assets

149.8

106.8

102.6

0.0

190.2

0.0

124.4

0.0

202.5

0.0

81.4

6.4

193.5

6.7

109.9

Total Equity

Share Capital

Other Equity

Non-Current Liabilities

Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities

(iii) Other Financial Liabilities

Provisions

Deferred tax liabilities (net)

Deferred income from grant

Other non current liabilities

Current Liabilities

Financial Liabilities

(i) Borrowings

(ii) Trade Payables

(iii) Lease Liability

(iv) Other Financial Liabilities

Other Current Liabilities

Deferred income from grant

Provisions

Current tax liabilities(net)

1,242.0

316.5

925.5

192.7

77.4

32.1

7.5

26.6

46.6

2.5

0.0

445.4

258.8

186.6

717.8

198.7

36.9

7.5

18.5

7.6

14.4

365.2

258.8

106.4

814.9

214.2

45.0

7.5

7.8

0.0

12.4

434.2

528.0

1,397.4

1,422.3

1,296.2

153.3

828.3

9.1

112.2

278.5

2.4

0.3

13.3

609.7

647.1

9.1

54.9

94.7

2.7

0.7

3.4

523.6

445.9

9.4

82.8

230.4

1.4

1.3

1.4

2,832.1

2,585.5

2,476.3

Total Equity & Liabilities

2,832.1

2,585.5

2,476.3

V i k r a m S o l a r L i m i t e d

Historical Abridged Cashflow Statement

Particulars (INR Cr)

Net Profit Before Tax

Adjustments for: Non -Cash Items / Other Investment or Financial Items

Operating profit before working capital changes

Changes in working capital

Cash generated from Operations

Direct taxes paid (net of refund)

Net Cash from Operating Activities

Net Cash from Investing Activities

Net Cash from Financing Activities

Net Decrease in Cash and Cash equivalents

Add: Cash & Cash equivalents at the beginning of the period

Exchange difference on translation of foreign currency cash and cash equivalents

Cash & Cash equivalents at the end of the period

Mar-25

Mar-24

Mar-23

217.4

336.6

554.0

107.3

365.4

472.7

18.9

177.6

196.5

-226.9

-309.7

1.1

327.0

163.0

197.6

28.3

298.7

-168.8

-99.8

30.1

9.0

0.1

39.2

11.0

152.0

-63.7

-81.0

7.3

1.6

0.0

8.9

2.2

195.4

-110.5

-102.2

-17.3

18.9

0.1

1.6

V i k r a m S o l a r L i m i t e d

Key Ratios

ROCE

20.8%

24.5%

12.8%

FY23

FY24

FY25

ROE

19.7%

16.6%

4.0%

FY23

FY24

FY25

Current Ratio

Debt/ Equity (x)

1.4

1.6

2.0

1.8

FY23

FY24

FY25

FY23

FY24

0.2

FY25

V i k r a m S o l a r L i m i t e d

GLOBALLY We are much Closer to You

India

Kolkata

Gurugram

Chennai

International

Massachusetts

Berlin

Shanghai

THANK YOU!

For further information, please contact:

Vikram Solar Limited

CIN: U18100WB2005PLC106448

Investor Relations: Strategic Growth Advisors (SGA)

CIN: U74140MH2010PTC204285

Ms. Rinal Shah - General Manager - Corporate Finance

investor.relations@vikramsolar.com

Mr. Sagar Shroff / Mr. Ayush Haria sagar.shroff@sgapl.net / ayush.haria@sgapl.net

+91 98205 19303 / +91 98204 62966

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