Vikram Solar Ltd
VIKRAMSOLR NSE
Vikram Solar Ltd
IndustrialsNSE: VIKRAMSOLR BSE: 544488 Electrical Equipment
Key Fundamentals
MicrocapOther Electrical EquipmentCapital GoodsMarket Cap
₹7,202 Cr
Volatility
Moderate
P/E Ratio
14.07
EBITDA
₹911 Cr
Debt to Equity
0.67
Book Value
₹87.42
52W High
₹407.95
52W Low
₹162.1
Technical Indicators
Key Insights
Strengths
4- Company is expected to give good quarter
- Company has delivered good profit growth of 65.4% CAGR over last 5 years
- Debtor days have improved from 132 to 92.3 days.
- Company's working capital requirements have reduced from 54.2 days to 37.4 days
Weaknesses
2- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last 3 years: -30.1%
Growth Rate
Revenue Growth
38.81% ↗
Net Income Growth
267.43% ↗
Cash Flow Change
96.47% ↗
ROE
-37.09% ↘
ROCE
15.14% ↗
EBITDA Margin (Avg.)
22.80% ↗
Quarterly Results
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 631 | 573 | 1,026 | 1,194 | 1,134 | 1,110 | 1,106 | 1,453 |
| Expenses | 519 | 501 | 941 | 970 | 891 | 875 | 901 | 1,218 |
| Operating Profit | 111 | 72 | 85 | 224 | 242 | 235 | 205 | 234 |
| OPM % | 18% | 13% | 8% | 19% | 21% | 21% | 19% | 16% |
| Other Income | 6 | 11 | 12 | 8 | 4 | 16 | 15 | 18 |
| Interest | 45 | 34 | 28 | 48 | 32 | 32 | 40 | 57 |
| Depreciation | 37 | 37 | 39 | 42 | 34 | 35 | 37 | 57 |
| PBT | 36 | 11 | 30 | 141 | 181 | 184 | 143 | 139 |
| Tax % | 36% | 36% | 36% | 36% | 26% | 30% | 31% | 21% |
| Net Profit | 23 | 7 | 19 | 91 | 133 | 128 | 98 | 110 |
| EPS in Rs | 0.72 | 0.23 | 0.6 | 2.86 | 4.21 | 3.55 | 2.71 | 3.05 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 1,640 | 1,610 | 1,730 | 2,073 | 2,511 | 3,423 | 4,802 |
| Expenses | 1,500 | 1,433 | 1,672 | 1,886 | 2,112 | 2,931 | 3,886 |
| Operating Profit | 140 | 177 | 59 | 187 | 399 | 492 | 917 |
| OPM % | 9% | 11% | 3% | 9% | 16% | 14% | 19% |
| Other Income | 22 | 17 | 13 | 18 | 1 | 36 | 53 |
| Interest | 95 | 99 | 103 | 122 | 155 | 155 | 161 |
| Depreciation | 37 | 39 | 48 | 64 | 138 | 156 | 162 |
| PBT | 30 | 56 | -79 | 19 | 107 | 217 | 647 |
| Tax % | 26% | 32% | -21% | 23% | 26% | 36% | 27% |
| Net Profit | 22 | 38 | -63 | 14 | 80 | 140 | 470 |
| EPS in Rs | 8.06 | 16.23 | -2.43 | 0.56 | 3.08 | 4.42 | 12.98 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 24 | 259 | 259 | 259 | 317 | 362 |
| Reserves | 334 | 391 | 92 | 106 | 187 | 925 | 2,805 |
| Borrowings | 494 | 672 | 749 | 738 | 854 | 272 | 645 |
| Other Liabilities | 720 | 712 | 1,137 | 1,373 | 1,286 | 1,318 | 1,916 |
| Total Liabilities | 1,576 | 1,798 | 2,237 | 2,476 | 2,585 | 2,832 | 5,728 |
| Fixed Assets | 357 | 381 | 547 | 644 | 505 | 554 | 1,127 |
| CWIP | 11 | 67 | 4 | 18 | 28 | 63 | 418 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1,209 | 1,350 | 1,687 | 1,814 | 2,052 | 2,215 | 4,184 |
| Total Assets | 1,576 | 1,798 | 2,237 | 2,476 | 2,585 | 2,832 | 5,728 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 227 | 13 | 201 | 195 | 152 | 299 | 630 |
| Investing | -36 | -40 | -155 | -110 | -64 | -169 | -1,748 |
| Financing | -174 | 4 | -36 | -102 | -81 | -100 | 1,115 |
| Net Cash Flow | 16 | -23 | 10 | -17 | 7 | 30 | -4 |
| Free Cash Flow | 182 | -40 | 41 | 82 | 81 | 152 | -92 |
| CFO/OP | 165 | 4 | 358 | 106 | 41 | 66 | 85 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 118 | 167 | 194 | 169 | 172 | 131 | 92 |
| Inventory Days | 66 | 58 | 70 | 84 | 86 | 61 | 90 |
| Days Payable | 144 | 149 | 198 | 101 | 141 | 118 | 171 |
| Cash Conversion Cycle | 41 | 75 | 66 | 152 | 117 | 74 | 11 |
| Working Capital Days | 8 | 26 | 0 | 62 | 64 | 61 | 37 |
| ROCE % | — | 16% | 2% | 13% | 23% | 26% | 31% |
Documents
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
8 May - Audio link uploaded for FY26 earnings call held May 8, 2026. 8 May - Audio link uploaded for FY26 earnings call held May 8, 2026.
3
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
4h - Monitoring Agency Report for quarter ended March 31, 2026 shows no deviation in IPO proceeds utilization. 4h - Monitoring Agency Report for quarter ended March 31, 2026 shows no deviation in IPO proceeds utilization.
4
Announcement under Regulation 30 (LODR)-Change in Management
4h - Board approves FY26 audited results, leadership changes, and ₹3,726 crore capex for 6 GW Tamil Nadu wafer/ingot facility by FY29. 4h - Board approves FY26 audited results, leadership changes, and ₹3,726 crore capex for 6 GW Tamil Nadu wafer/ingot facility by FY29.
5
Audited Financial Results For The Quarter And Year Ended 31St March 2026
7 May - Board approved FY26 results, CEO/CMD changes, and ₹3,726 crore capex for 6 GW Tamil Nadu facility. 7 May - Board approved FY26 results, CEO/CMD changes, and ₹3,726 crore capex for 6 GW Tamil Nadu facility.
5
Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 19 Jun 2026
General_Announcements
Frequently Asked Questions about Vikram Solar Ltd
What does Vikram Solar Ltd do?
Incorporated in 2005, Vikram Solar Ltd manufactures solar PV modules and also provides EPC and O&M services.[1]
Where is Vikram Solar Ltd (VIKRAMSOLR) listed?
Vikram Solar Ltd is listed on the Indian stock exchanges. It is listed on NSE: VIKRAMSOLR and BSE: 544488. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vikram Solar Ltd belong to?
Vikram Solar Ltd operates in the Industrials sector within the Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vikram Solar Ltd?
Vikram Solar Ltd has a market capitalisation of approximately ₹7202.40 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Vikram Solar Ltd?
The Price-to-Earnings (PE) ratio of Vikram Solar Ltd is 14.07. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Vikram Solar Ltd?
Over the past 52 weeks, Vikram Solar Ltd has traded between a low of ₹162.1 and a high of ₹407.95. This range helps investors understand the stock's price volatility and recent trading levels.
How can I research Vikram Solar Ltd on Tapetide?
On Tapetide, you can view Vikram Solar Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 2005, Vikram Solar Ltd manufactures solar PV modules and also provides EPC and O&M services.[1]