EcoVadis Rating validates Vikram Solar's business sustainability commitments and performance

KOLKATA, India, May 26, 2025 -- Vikram Solar Limited, one of India's leading solar PV module manufacturers, has achieved a Platinum Medal from EcoVadis, a global leader in business sustainability assessments. With a score of 84/100, Vikram Solar is now ranked in the 99th percentile of all companies assessed, placing it among the top 1% of organisations evaluated, worldwide, and 1st in its sector at the Group level (including all Vikram Solar group of companies globally), based on EcoVadis research and as of May 13, 2025.

Mr. Gyanesh Chaudhary, Chairman and Managing Director, Vikram Solar, said, "The recognition is a reflection of our long-standing belief that sustainability is not a parallel goal but a core business imperative. At Vikram Solar, we strive towards embedding responsible practices across our value chain — from sourcing to delivery — and have been consistently working towards becoming a future-ready, ethical manufacturer. Being rated among the top 1% at a globally recognised platform reaffirms our commitment to creating long-term value for our stakeholders while driving positive impact for the planet."

The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. More than 130,000 companies globally have been rated by EcoVadis. EcoVadis' business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidence-based analysis on performance and an actionable roadmap for continuous improvement.

The EcoVadis recognition establishes a benchmark for participating companies in environmental responsibility, ethical labour practices, sustainable procurement, and business ethics. For the same, Vikram Solar has emerged at their possibly highest rated category – Platinum. Joining an elite group of global leaders, this recognition underscores Vikram Solar's unwavering alignment with global sustainability best practices.

About Vikram Solar

Vikram Solar Limited is one of the leading Indian solar PV module manufacturers, specializing in high efficiency photovoltaic (PV) module manufacturing, with an international presence across 39 countries as of Fiscal 2024. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India with cumulative production capacity of 4.5 GW in Fiscal 2025. Vikram Solar is a 'Top Performer' in PVEL's PV module reliability scorecard in 2024 and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF as of the first three quarters of CY 2024.

Disclaimer:

Vikram Solar Limited ("Company") is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus dated September 30, 2024 read with the addendum to the draft red herring prospectus dated March 25, 2025 (collectively, the "DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the websites of the Company at www.vikramsolar.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at www.jmfl.com, Equirus Capital Private Limited at www.equirus.com, Nuvama Wealth and Investment Limited at www.nuvamawealth.com, UBS Securities India Private Limited at www.ubs.com and PhillipCapital (India) Private Limited at www.phillipcapital.in and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the DRHP and the RHP/Prospectus, when available. Potential investors should not rely on the DRHP for any investment decision.

Website: www.vikramsolar.com

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