Vikram Solar Limited — Capital/Financing Update 2026

Jan 16, 2026

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January 16, 2026 VSL/CS/259/2026 dated 16.01.2026

BSE Ltd. National Stock Exchange of India Ltd. Department of Corporate Services Listing Department P. J. Towers, Dalal Street, Mumbai – 400 001. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051 (Scrip Code: Equity - 544488) (Symbol: VIKRAMSOLR, Series EQ)

Dear Sir/ Madam,

Subject: General Update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We enclose herewith a Press Release regarding the Company’s strategic transition to a fully G12R-based high-efficiency module portfolio, reinforcing our commitment towards next-generation solar technology, which is self-explanatory.

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

Thanking You,

For and on behalf of

VIKRAM SOLAR LIMITED

SUDIPTA Digitally signed by SUDIPTA BHOWAL BHOWAL Date: 2026.01.16 10:39:21 +05'30'

Sudipta Bhowal Company Secretary & Compliance Officer

Encl. As Above

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Vikram Solar Leads the Shift to G12R; Benchmarks with 100% Portfolio Transition

Kolkata, 16[th] January 2026: Vikram Solar Limited, a leading Indian solar manufacturer focused on high-efficiency PV solutions, today announced a strategic transition to a fully G12R-based module portfolio, reinforcing its commitment to next-generation solar technology.

Over the last decade, the global solar industry has rapidly converged toward larger-format wafers, high-efficiency N-type architectures, and bifacial designs to maximise energy yield and improve project economics. As developers, EPCs, and financiers increasingly prioritise performance certainty, long-term reliability, and future-ready technology, Vikram Solar’s transition reflects a deliberate response grounded in market foresight and manufacturing discipline.

The transition marks a significant evolution from product innovation to portfolio standardisation, anchored in the HYPERSOL G12R module series, which has emerged as a cornerstone of the next phase of growth in solar manufacturing. By consolidating its entire offering around the advanced G12R portfolio, Vikram Solar is setting a clear direction for the future of high-efficiency, large-format solar manufacturing in India.

This transition comes at a pivotal moment in the company’s growth trajectory. The firm has expanded its module manufacturing capacity to 9.5 GW, making it one of the largest solar module manufacturers in India, with state-of-the-art facilities across three manufacturing plants in West Bengal and Tamil Nadu. This scale provides a strong operational foundation to standardise on a single, high-efficiency technology platform while delivering consistency, quality, and reliability at volume.

The G12R offering, exemplified by the HYPERSOL G12R (132HC module series) and HYPERSOL PRO G12R, delivers a maximum power output of up to 640 Wp with efficiency reaching 23.69% . Its rectangular large-format design enables optimised container utilisation of 98.5%, reducing logistics costs while improving project-level economics. Moreover, the advanced design of Hypersol Pro ensures unidirectional current flow, effectively eliminating reverse current and minimizing energy waste to maximize total power generation. Expanding its versatility, HYPERSOL G12R is also available in 96 and 108 HC formats, enabling high-efficiency solar deployment across residential and commercial rooftop applications where space optimization is critical. Designed to meet IEC, UL, and BIS standards, the platform is engineered for deployment across India, the US, Europe, and Australia.

Commenting on the transition, Mr. Gyanesh Chaudhary, Chairman & Managing Director,

Vikram Solar, said , “Solar manufacturing is entering a phase where scale alone is not enough, clarity of technology direction and execution excellence will define longterm leadership. By transitioning entirely to the G12R portfolio, Vikram Solar is making a deliberate choice to lead with performance, consistency, and future-ready innovation. This shift reflects our conviction to set benchmarks for high-efficiency solar manufacturing from India for the world, setting benchmarks that the global markets can trust.”

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The transition will be executed through a phased approach, ensuring continuity for existing customer commitments while optimising production yields and quality assurance across facilities. Vikram Solar is engaging closely with suppliers, partners, and customers to enable a smooth adoption of the new offerings and reinforce long-term value creation.

With this strategic move, Vikram Solar positions itself as a technology-led, future-ready solar manufacturer, combining scale, standardisation, and innovation while strengthening India’s standing in the global solar manufacturing ecosystem.

About Vikram Solar:

Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India with cumulative production capacity of 9.5 GW. Vikram Solar is a ‘Top Performer’ in PVEL’s PV Module Reliability scorecard 2025 and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF. Vikram Solar Limited has established a pan-India presence through an extensive distributor network of 100+ authorized distributors, more than 375+ dealers, and 75+ system integrators.

For further information, please contact: Srabani Sen| Vikram Solar | Mobile: +91 7349661300| Email: press@vikramsolar.com