Vikram Solar Unlisted Shares

OVERVIEW OF VIKRAM SOLAR UNLISTED SHARES

- Established in 2006, Vikram Solar Limited (formerly Vikram Solar Pvt. Ltd.) has ascended to become India’s premier PV module manufacturer and solar energy solutions provider. Specializing in PV modules, EPC services, and O&M, Vikram Solar's footprint spans 6 continents with offices in 11 countries. 

- Operating from manufacturing units in Falta SEZ, South 24 Parganas, West Bengal, and Kancheepuram, Tamil Nadu, the company boasts an annual production capacity of 2.5 GW and a track record of commissioning over 1.35 GW of solar projects in India.

- With high-efficiency mono-crystalline and polycrystalline silicon photovoltaic modules under the brand names Somera and Prexos, Vikram Solar has carved its place as a leading player. Notable clients for its rooftop EPC services include Berger Paints, Pacific Quartz, and Green Ply. 

- Despite challenges, including fluctuations in raw material prices due to heavy reliance on imports from China and free trade routes from Vietnam, Vikram Solar has demonstrated resilience. Noteworthy is its emergence as one of India's top five domestic module manufacturers with a robust production capacity of 3.5 GW. 

- In FY 23, the company secured its position as the third-largest domestic module exporter to the United States, capturing a substantial market share of 4.7%. 

- Marching forward with confidence, Vikram Solar filed a draft red herring prospectus in March 2022, aiming to raise Rs. 1,500 crores through an initial public offering.

VIKRAM SOLAR UNLISTED SHARES PRICE

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INDUSTRY

Vikram Solar Limited, previously recognized as Vikram Solar Private Limited, stands out as a prominent player in India's solar industry. Renowned for its robust operational capacity, it holds a significant position as one of the nation's leading module manufacturers, specializing in solar photovoltaic ("PV") modules. Additionally, the company distinguishes itself by offering comprehensive solar energy solutions, encompassing engineering, procurement, and construction ("EPC") services, along with operations and maintenance ("O&M") services.

INCORPORATED ON

Established on 02 December 2005 Vikram Solar Limited is a Public Limited Company.  It is classified as non-govt company and is registered at Registrar of Companies, Kolkata.

MAJOR TAKEAWAYS OF VIKRAM SOLAR UNLISTED SHARES

• Vikram Solar garnered acclaim through its inclusion in Fortune India's Next 500 list for the year 2023. It stands out as the sole solar module manufacturing company listed among the largest emerging companies. Placing at 167, the company secured its position for the second time in this prestigious ranking.
• Vikram Solar, a top module manufacturer in India, has regained its position in BloombergNEF's prestigious Tier 1 global manufacturers list. This reflects the company's ongoing dedication to quality, customer satisfaction, and reliability.
• Vikram Solar boasts robust manufacturing capabilities, featuring Industry 4.0 compliance, AI and IoT integration, and cutting-edge facilities that ensure the production of premium solar products. With a total installed capacity of 3.5 GW, it ranks among the top three solar panel manufacturers in India.
• Vikram Solar stands to benefit from recent government considerations to reduce import taxes on solar panels. Initially, in FY22, higher import duties were imposed to encourage domestic manufacturing. However, as of May FY24, the government is contemplating halving the import tax on solar panels and revisiting goods and services taxes to meet the growing demand for renewable energy. This move signals a potential boost for Vikram Solar and the entire renewable energy sector in India, enhancing competitiveness and fostering growth opportunities.
• The company's success can be credited to its robust product portfolio, which encompasses a diverse array of solar offerings including solar modules, solar cells, and solar power plants.

VIKRAM SOLAR’S EXPANSION PLANS

• Vikram Solar is launching a state-of-the-art 1.3 GW module manufacturing facility in Tamil Nadu, aiming to set new industry benchmarks.
• With an investment of around 5500 Cr, Vikram Solar will boost its annual module manufacturing capacity to 2.5 GW, becoming India's largest solar panel manufacturer.
• This move cements Vikram Solar's position as a leader in renewable energy, showcasing its commitment to innovation and excellence.
• Future plans include expanding the Tamil Nadu facility to 3 GW within five years, further strengthening Vikram Solar's presence in the market.
• Through these strategic initiatives, Vikram Solar is not only advancing its own growth but also contributing significantly to India's renewable energy goals.

RECENT UPDATES OF VIKRAM SOLAR UNLISTED SHARES

• In 2024, Vikram Solar has once again secured its position on BloombergNEF's prestigious Tier 1 global module manufacturers list, underscoring its enhanced efficiency, bankability, and top-notch product quality. After initially earning the Tier 1 status in 2014, Vikram Solar stood out as India's sole representative on BNEF's list.
• At COP28, DFC and Vikram Solar sealed a ceremonial retainer letter for around $200 million funding. The investment will fuel Vikram Solar's plan to build a massive 3 GW manufacturing facility in Gangaikondan, Tamil Nadu, positioning it as one of India's largest in the solar sector.
• Vikram Solar clinched a deal to provide 152 MW of high-efficiency mono PERC bifacial PV modules for NTPC's Nokh solar power project in Rajasthan. The agreement mandates the supply of modules adhering to domestic content requirements, specifically built with cells produced domestically.
• Vikram Solar, has attained the prestigious title of 'Top Performer' in the PVEL PV Module Reliability Scorecard 2023. This achievement comes after successfully passing the rigorous Product Qualification Program (PQP) testing, recognized as the gold standard for module bankability in the solar industry.

INDUSTRY OVERVIEW

• The India Solar Energy Market was estimated at USD 38 billion in 2021 and is anticipated to reach around USD 238 billion by 2030, growing at a CAGR of roughly 40% between 2022 and 2030.
• The Government of India has increased the subsidy for rooftop solar installations to about 60% under the new Pradhan Mantri Suryoday Yojana from 40% now. Under the government’s energy transition plans, solar power is expected to account for 292 GW out of a total renewable capacity of 500 GW by 2030.
• India is establishing a solar city in each state and developing 57 solar parks with a total power capacity of 39.28 GW, while also prioritizing floating solar projects.
• India aims to cut carbon intensity by over 45% by 2030, achieve 50% renewable energy in its power mix by 2030, and reach net-zero emissions by 2070.
• India's Production Linked Incentive Scheme aims to boost solar PV module manufacturing. The first installment, approved in April 2021 with ₹4,500 Cr, awarded 8,737 MW of solar capacity. The second allocation, approved in September 2022 with ₹19,500 Cr, targeted an additional 39,600 MW of solar manufacturing.
• As of Dec 2023, Solar Power accords for the highest installed capacity of 73.31 GW amongst other renewable sources namely Hydro Power, Wind Power, Biomass Generation, and Waste to Energy.