NCLAT Grants Stay on Insolvency Proceedings Against Vikram Solar Ltd, Citing Strong Financial Standing
The National Company Law Appellate Tribunal (NCLAT) has granted a stay on the corporate insolvency resolution process initiated against Vikram Solar Limited by Isitva Steels Private Limited. This development comes after an appeal filed before the Hon'ble NCLAT concerning a petition submitted under Section 9 of the Insolvency and Bankruptcy Code, 2016, to the National Company Law Tribunal, Kolkata Bench.The grant of a stay means that no further steps can be taken by the interim resolution professional regarding the insolvency process at this time. Vikram Solar Limited reiterated that it remains financially sound and fully operational, demonstrating sustained business momentum.
The company achieved significant financial results for Fiscal 2026. Total revenue reached INR 4,802.25 crores, accompanied by a profit-after-tax of INR 470.42 crores, reflecting exceptional operational performance. The management emphasized that the Company maintains substantial assets and a strong liquidity position, confirming its status as a market leading enterprise in the sector.
Key financial indicators demonstrating the company's stability include:
| Financial Metric | Details |
|---|---|
| Total Revenue (FY 2026) | INR 4,802.25 crores |
| Profit After Tax (FY 2026) | INR 470.42 crores |
| Long-Term Debt Status (March 31, 2026) | No long-term debt |
| Working Capital Net Debt (March 31, 2026) | INR 64 crores |
| Debt to Equity Ratio (March 31, 2026) | 0.03 |
Operational efficiency also saw notable improvements. The net working capital cycle has decreased to 44 days in Fiscal 2026 from 82 days recorded in the previous fiscal year. Vikram Solar Limited stated its continued commitment to upholding strong governance standards and safeguarding the interests of all stakeholders.
VIKRAMSOLR Stock Price Movement
Shares of Vikram Solar Limited slipped by 1.19% to settle at ₹190.22 after trading today.The decline occurred amidst a session where the stock traded nearly 2 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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