Vikram Solar Ltd.
Price
Daily candles · NSEWhat the numbers say
- Good return on equity: 3-year ROE 19.3%.
- Comfortable leverage: debt-to-equity of 0.03.
- Sales compounded at 32.3% over 3 years.
- Weak cash conversion (CFO/OP 0.56).
- Trades below its industry P/E (9.6 vs 40.0).
Generated automatically from reported financials. These are observations, not a recommendation to buy or sell.
- Vikram Solar secures module supply order for solar projects in Karnataka, Tamil Nadu
The company has secured a 187 MW module supply order from a leading renewable energy developer
- Vikram Solar enters into domestic cell supply agreement with Avaada Electro
Avaada Electro will supply 1 GW of ALMM-compliant domestically manufactured half-cut N-Type G12R TOPCon solar cells for Vikram Solar’s module manufacturing operations
- Vikram Solar secures 124 MW module supply order from Capital Energy
Module supplies are scheduled to commence in October 2026
- Vikram Solar inks solar cell supply pact with Evervolt Solar Technology India
The agreement aims to procure Mono-PERC 10BB DCR-compliant crystalline solar cells aggregating to 130 MW over the supply period July 2026 to March 2027
- Vikram Solar commissions new manufacturing plant in Tamil Nadu
The investment supports regional industrial development while expanding India's clean energy manufacturing base
Company announcements as filed with the exchanges. Reproduced for information — not a view or a recommendation.
| Profit & Loss · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Net Sales | 4,802 | 3,423 | 2,511 | 2,073 | 1,730 |
| Other income | 59 | 36 | 13 | 19 | 13 |
| Total Income | 4,861 | 3,460 | 2,524 | 2,092 | 1,743 |
| Expenditure | 3,886 | 2,931 | 2,112 | 1,887 | 1,672 |
| Operating Profit | 975 | 528 | 412 | 205 | 71 |
| Interest | 161 | 155 | 155 | 122 | 103 |
| Depreciation | 162 | 156 | 138 | 64 | 48 |
| Profit before tax | 647 | 217 | 107 | 19 | -79 |
| Tax | 177 | 78 | 28 | 4 | -16 |
| Net Profit | 470 | 140 | 80 | 14 | -63 |
| EPS (₹) | 13.68 | 4.61 | 3.08 | 0.56 | -2.43 |
| Net margin % | 9.8 | 4.1 | 3.2 | 0.7 | -3.6 |
Consolidated figures, as filed with the exchanges. Newest year first. EPS for FY21 is not shown: the value supplied does not agree with the number of shares the company reported for that year, and we would rather show nothing than a figure we cannot reconcile.
| Balance Sheet · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Equity capital | 362 | 317 | 259 | 259 | 259 |
| Reserves | 2,788 | 919 | 187 | 106 | 92 |
| Net worth | 3,150 | 1,236 | 445 | 365 | 351 |
| Total sources | 3,660 | 1,388 | 1,156 | 1,180 | 755 |
| Net block | 1,127 | 554 | 505 | 644 | 547 |
| Capital work in progress | 418 | 63 | 28 | 18 | 4 |
| Investments | 456 | 203 | 74 | 61 | 68 |
| Inventory | 823 | 429 | 393 | 373 | 265 |
| Debtors | 1,214 | 1,229 | 1,185 | 959 | 917 |
| Cash & bank | 1,257 | 189 | 116 | 104 | 136 |
| Book value (₹) | 86.94 | 39.05 | 17.21 | 14.11 | 13.57 |
Consolidated figures, as filed with the exchanges. Newest year first. Vikram Solar Ltd. had roughly 11× as many shares from FY22 onwards, after a bonus issue or a share split. Book value per share is shown exactly as reported, so FY21 and earlier is struck on the smaller share count and is not comparable with the years after it. The totals above are unaffected.
| Cash Flow · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| From operations | 630 | 281 | 152 | 195 | 201 |
| From investing | -1,748 | -156 | -64 | -111 | -155 |
| From financing | 1,115 | -95 | -81 | -102 | -36 |
| Net change in cash | -4 | 30 | 7 | -17 | 10 |
| Free cash flow | -1,118 | 125 | 88 | 85 | 46 |
| Closing cash | 36 | 39 | 9 | 2 | 19 |
Consolidated figures, as filed with the exchanges. Newest year first.
| Ratios | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| ROCE % | 34.1 | 27.3 | 22.2 | 13.1 | 2.2 |
| ROE % | 21.5 | 16.6 | 19.7 | 4.0 | -16.4 |
| PAT margin % | 9.8 | 4.1 | 3.2 | 0.7 | -3.6 |
| EBIT margin % | 16.8 | 10.9 | 10.4 | 6.8 | 1.4 |
| Debt / equity | 0.03 | 0.19 | 1.81 | 2.02 | 2.00 |
| Current ratio | 1.88 | 1.44 | 1.39 | 1.35 | 1.09 |
| Interest cover | 5.03 | 2.40 | 1.69 | 1.15 | 0.23 |
| Sales growth % | 40.3 | 36.3 | 21.1 | 19.8 | 7.5 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Consolidated figures, as filed with the exchanges. Newest year first.
Frequently asked
Vikram Solar Ltd. (VIKRAMSOLR) last traded at ₹131.54 on the NSE, down +2.56% on the session. Prices on this page are indicative and for information only.
Vikram Solar Ltd. has traded between ₹131.15 and ₹348.80 over the last 52 weeks on the NSE.
Vikram Solar Ltd. has a market capitalisation of about ₹4,766 crore.
Vikram Solar Ltd. trades at a P/E of 9.6, against an industry P/E of 40.0.
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Delivery against churn, the deals big enough to be reported, what the insiders did, and the benchmarks that hold Vikram Solar Ltd..
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Exchange filings and end-of-day data, not a live feed. Bulk, block and insider records are published by the exchanges when a threshold is crossed, so they show reportable activity only. For information, not a recommendation to deal, and not a view on any person named above.
Disclosures. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Prices and data on this page are indicative and for information only. Nothing here is investment advice or a recommendation to buy or sell any security. Investors should consider their own objectives, financial situation and risk profile, and may wish to seek independent advice, before investing.
Figures are as reported by the company; consolidated where available. Errors and omissions excepted.
L. F. C. Securities Pvt. Ltd. · Member BSE, NSE, MCX · SEBI Stock Broker INZ000170736 · CDSL IN-DP-281-2016 · AMFI ARN-78991 · Investment Adviser (Non-Individual) INA000011617 · Compliance Officer: Mr. Santosh Patil · santoshp@labdhi.in · 022-35006933 · Investor Grievances: investorgreve@labdhi.in