Solar module manufacturer Vikram Solar has secured an order to supply 378 MW of modules to NTPC Green Energy. In an exchange filing, the company said that it will supply N-TOPCon modules to the renewable energy arm of NTPC, with deliveries scheduled for the next 6 months.
Vikram Solar stated that the ordered 378 MW solar modules will be deployed in the 600 MW capacity solar project of NTPC Green and Indian Oil in the Kutch district of Gujarat.
Why is this order strategically important?
Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said the latest order holds a strategic importance for the company, as it marks their first engagement with the mega joint venture project of NTPC Green and India Oil.
“It reinforces our ability to deliver high-performance N-TOPCon technology for complex utility-scale deployments, backed by execution certainty and manufacturing strength. We see this as the beginning of a strong, long-term collaboration supporting India’s accelerated clean energy transition,” Chaudhary said in a statement.
Vikram Solar Q3 order book
Vikram Solar’s order book stood at 10.6 GW at the end of the December quarter of FY26. The company’s Q3 FY26 investor presentation shows that it registered a 28 per cent YoY as its order book at the end of Q3 FY25 was 8.2 GW.
The company’s 84 per cent of orders were placed by domestic companies, and 16 per cent were for exports. The company’s 55 per cent orders were placed by Independent Power Producers, while 21 per cent orders came from commercial and industrial clients.
In the December quarter of FY26, Vikram Solar sold a total of 796 MW of solar modules, generating a revenue of Rs 1,106 crore. While the company’s revenue grew by just 7.8 per cent YoY during the quarter, its profit jumped by 416 per cent YoY during the same period.
Vikram Solar share price
Vikram Solar’s share was trading at 175.10, nearly 5% down in the intra-day trade on concerns about the US slapping steep tariffs on solar exports to the US.
The company’s stock has lost nearly half of its value since listing in August 2025. The company was listed on the National Stock Exchange at a price of Rs 338 per share. `The company’s stock has lost nearly half of its value since listing in August 2025. The company was listed on the National Stock Exchange at a price of Rs 338 per share.