Vikram Solar says 126% US duties won’t dent finances, shares slip 5%

Vikram Solar on Wednesday said the direct financial impact of recent preliminary anti-dumping and countervailing (AD/CVD) duties imposed by the United States is limited for the company, even as it continues to anchor its growth strategy in India.

The United States has imposed preliminary duties on solar imports from India, Indonesia and Laos, citing government subsidies that it says give these exporters an unfair advantage. For India, the proposed duty stands at about 126%.

Also Read: US sets initial duties on Indian solar imports at 126%


The company clarified that the “Recent U.S. preliminary AD/CVD duties apply specifically to Indian-origin cells” and added that the “Direct financial impact on us is limited”. It further emphasised that its “Growth strategy continues to be firmly anchored in India”.

Shares of Vikram Solar were trading at ₹175.30, down ₹10.05 or 5.42 per cent at the time of publishing this article.