Why Is Vikram Solar Share Price Falling Today? Stock Down 9% Despite 400% Jump in Q3 Profit | Target Price

Vikram Share Price Today: Shares of Vikram Solar Limited reversed early gains to trade sharply lower on Wednesday, slipping nearly 9% in opening deals. The decline came despite strong quarterly earnings, after the stock had shown an upward bias in the pre-opening session. The company had reported a massive 400% year-on-year jump in consolidated net profit for the third quarter of FY26.

Vikram Solar shares were trading 9% lower at Rs 195.55 per share on BSE with a market capitalisation of Rs 7,085.37 crore at 10 am. The stock had touched a fresh 52-week low of Rs 195.4 per share during Tuesday's trading session.

Why is Vikram Solar Share Price Falling Today?

The sharp decline in Vikram Solar share price is a reflection of weakening investors' sentiment due to the company's performance in the third quarter of financial year 2025-26.

"The decline in Vikram Solar's share price despite a strong Q3 performance appears to be driven more by market positioning than by fundamentals. A large part of the recent rally had already priced in earnings momentum, capacity expansion plans, and the broader optimism around domestic solar manufacturing. When results meet expectations rather than exceed them materially, some profit booking is natural, especially in stocks that have seen sharp run-ups," explained Yash Chauhan, Research Analyst, INVasset PMS.

Despite posting a sharp surge in the third quarter profit, there was a decline in order book during the quarter under review. Vikram Solar net profit jumped around 400% to Rs 98 crore in Q3FY26. However, the solar energy firm also saw a 4% decline in its order book.

Vikram Solar Share Price Target

Vikram Solar has revised its module capacity target from 17.5 GW to 15.5 GW to align with its backward integration into cell manufacturing. Brokerage PL Capital, on Wednesday, maintained its 'Buy' rating for the stock with a target price of Rs 326 per share.

Vikram Solar Q3 Result Recap

Vikram Solar's net consolidated profit jumped around 415% during the quarter to Rs 98 crore in the third quarter, compared to Rs 19 crore in the same period a year ago.

Vikram Solar's consolidated net profit climbed 415% to Rs 98 crore in the October-December 2025 quarter. Net profit stood at Rs 19 crore in the same quarter of the previous financial year. Revenue from operations increased nearly 8% to Rs 1,105.95 crore, compared with Rs 1,026.04 crore a year earlier, signalling moderate top-line growth alongside a strong improvement in earnings.

The company's latest figures show that profit growth outpaced revenue growth by a wide margin. This reflects a combination of slightly higher sales and tighter cost control during the quarter. Vikram Solar announced these Q3 numbers for FY2025-26 after market hours on Tuesday, 20 January 2026.

Total expenses during the third quarter fell 3% year-on-year to Rs 977.73 crore. In the same period a year earlier, total expenses were Rs 1,008.27 crore. The reduction was mainly driven by a drop in raw material costs, which eased more than 9% to Rs 798.82 crore, from Rs 881.05 crore in the corresponding quarter of the previous fiscal.

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