Vikram Solar Limited share price
Vikram Solar Limited engages in the manufacture and sale of solar photovoltaic modules/systems in India and internationally. It also engineering, procurement and construction (EPC) and operation and maintenance of solar power plant. It sells its products under the Suryava, Hypersol, Hypersol Pro, Paradea, and SOMERA brand names. It also involved in rooftop projects. The company was incorporated in 2005 and is based in Kolkata, India.Read more
- Market Cap₹ 5,218 Cr.
- Current Price₹ 144.00
- High / Low₹ 354 / 141
- Stock P/E14.3
- Book Value₹ 87
- Dividend Yield0.00 %
- ROCE20.5 %
- ROE21.30 %
- Face Value₹ 10.0
More figures (10)
- EPS (TTM)₹ 10.09
- Price / Book1.65
- OPM16.6 %
- Debt / Equity0.20
- Sales growth (4Y)32.3 %
- Profit growth (4Y)219.0 %
- Promoter holding64.9 %
- EV / EBITDA7.6
- Beta—
- All-time high₹ 408
Price chart
| Returns | 1M | 3M | 6M | YTD | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| VIKRAMSOLR | -12.13% | -26.10% | -36.99% | -39.50% | -57.88% | — | — |
| Nifty 50 | -0.31% | -3.85% | -4.34% | -11.42% | -9.53% | +5.46% | +4.76% |
Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.
Quick take
- Vikram Solar Limited is in the Solar industry (Technology), with a market value of ₹5,218 crore.
- It trades at 14.3 times its last 12 months' earnings and 1.6 times book value.
- Revenue grew 32.3% a year over the last 4 years, profit 219.0% a year.
- Return on equity was 21.3% and return on capital employed 20.5% in the latest year.
- Debt was 0.20 times shareholders' equity.
- The share price is 59.4% below its 52-week high and down 57.9% over one year.
- Promoters and insiders hold about 64.9%; institutions about 3.8%.
Pros
AI- Strong return on equity: 19.2% on average over the last 3 years.
- Borrowings are moderate at 0.20 times shareholders' equity.
- Promoters hold a large stake of 63.01%.
Cons
AI- Latest quarter (Jun 2026): profit fell 85% from a year ago.
- The company has not paid a dividend recently.
Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.
AI analysis
Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.
About Vikram Solar Limited
Vikram Solar Limited engages in the manufacture and sale of solar photovoltaic modules/systems in India and internationally. It also engineering, procurement and construction (EPC) and operation and maintenance of solar power plant. It sells its products under the Suryava, Hypersol, Hypersol Pro, Paradea, and SOMERA brand names. It also involved in rooftop projects. The company was incorporated in 2005 and is based in Kolkata, India.
- Employees
- 2,946
- Head office
- Kolkata
- NSE industry
- Capital Goods
Peer comparison
TechnologyCapital GoodsSolar
Part ofNifty Microcap 250
| S.No. | Company | CMP ₹ | P/E | Mar Cap ₹ Cr | Div Yld % | NP Qtr ₹ Cr | Qtr Profit Var % | Sales Qtr ₹ Cr | Qtr Sales Var % | ROCE % | ROE % | P/B | OPM % | Debt / Eq | Prom. Hold. % | Sales ₹ Cr | Sales Var 3Yrs % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Vikram Solar | 144.00 | 14.3 | 5,218 | 0.00 | 20 | -85.17 | 1,563 | 37.89 | 20.5 | 21.3 | 1.65 | 16.6 | 0.20 | 64.85 | 4,802 | 32.3 |
| 2. | Waaree Energies | 2,565.40 | 19.4 | 73,794 | 0.16 | 850 | 37.37 | 7,932 | 98.10 | 30.1 | 31.0 | 5.11 | 19.1 | 0.26 | 68.15 | 25,955 | 57.8 |
| 3. | Premier Energies | 901.05 | 24.2 | 40,687 | 0.08 | 463 | 66.69 | 2,463 | 51.93 | 27.4 | 42.4 | 9.42 | 25.2 | 0.86 | 67.42 | 7,807 | 76.2 |
| 4. | Emmvee Photovoltaic Power | 277.20 | 13.3 | 19,192 | 0.35 | 380 | 102.63 | 1,556 | 51.34 | 34.5 | 51.1 | 4.37 | 29.8 | 0.10 | 80.03 | 5,034 | 102.7 |
| 5. | Fujiyama Power Systems | 394.90 | 40.1 | 12,120 | 0.00 | 58 | — | 1,346 | — | 28.9 | 36.4 | 9.21 | 17.1 | 0.41 | 87.74 | 2,647 | 58.7 |
| 6. | Borosil Renewables | 428.50 | 15.7 | 6,307 | 0.00 | 87 | — | 406 | 17.06 | 9.5 | 10.3 | 3.97 | 22.9 | 0.11 | 57.84 | 1,549 | 20.2 |
| 7. | Insolation Energy | 73.64 | 8.1 | 1,624 | 0.00 | 38 | — | 741 | — | 19.1 | 28.3 | 2.02 | 11.9 | 1.10 | 67.60 | 2,146 | 97.0 |
| Median: 7 Co. | 394.90 | 15.7 | 12,120 | 0.00 | 87 | 52.03 | 1,556 | 51.34 | 27.4 | 31.0 | 4.37 | 19.1 | 0.26 | 67.60 | 4,802 | 58.7 |
Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.
Quarterly Results
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.
Profit & Loss
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Projection — your assumptions
Starts from the last four reported quarters (TTM) and applies the figures you enter; growth is pre-filled with the company's own past sales growth. This is a what-if calculator for illustration, not a forecast, estimate or recommendation.
Related party transactions
Related-party transactions are dealings with promoters, directors, subsidiaries and associates. Companies disclose them to the exchanges every half-year and in detail in the notes to their annual report.
No separate related-party filing among the recent announcements of the company.
Full details: notes to the Financial Year 2026 annual report (related party disclosures).
| ₹ Cr | Mar 2026 | TTM |
|---|---|---|
| Sales | 4,802 | 5,232 |
| 3,886 | 4,431 | |
| Material Cost % | 69% | 73% |
| Employee Cost % | 3% | 3% |
| Other Expenses % | 8% | 8% |
| Operating Profit | 917 | 800 |
| OPM % | 19% | 15% |
| 59 | 67 | |
| Exceptional items | -6 | -6 |
| Interest | 161 | 178 |
| Depreciation | 162 | 193 |
| Profit before tax | 647 | 492 |
| 27% | 27% | |
| Current tax | 133 | |
| Deferred tax | 43 | |
| Net Profit | 470 | 357 |
| EPS in Rs | 13.68 | 10.14 |
Compounded Sales Growth
- TTM:
- 9%
Compounded Profit Growth
- TTM:
- -24%
Stock Price CAGR
- 1 Year:
- -58%
Return on Equity
- 4 Years:
- 15%
- Last Year:
- 21%
| ₹ Cr | Mar 2026 | TTM |
|---|---|---|
| Sales | 4,803 | 5,204 |
| 3,887 | 4,407 | |
| Material Cost % | 69% | 73% |
| Employee Cost % | 3% | 3% |
| Other Expenses % | 8% | 8% |
| Operating Profit | 916 | 797 |
| OPM % | 19% | 15% |
| 58 | 67 | |
| Exceptional items | -6 | -6 |
| Interest | 160 | 178 |
| Depreciation | 162 | 192 |
| Profit before tax | 646 | 488 |
| 27% | 28% | |
| Current tax | 134 | |
| Deferred tax | 44 | |
| Net Profit | 469 | 353 |
| EPS in Rs | 13.65 | 10.05 |
Compounded Sales Growth
- TTM:
- 8%
Compounded Profit Growth
- TTM:
- -25%
Stock Price CAGR
- 1 Year:
- -58%
Return on Equity
- 4 Years:
- 15%
- Last Year:
- 21%
Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.
Balance Sheet
Consolidated figures in ₹ crore, as at 31 March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 259 | 259 | 317 | 362 |
| Reserves | 106 | 187 | 925 | 2,805 |
| 792 | 854 | 272 | 645 | |
| Long term borrowings | 214 | 199 | 77 | |
| Short term borrowings | 524 | 610 | 153 | 100 |
| 1,319 | 1,286 | 1,318 | 1,916 | |
| Trade payables | 446 | 647 | 828 | 1,564 |
| Current liabilities | 1,296 | 1,422 | 1,397 | 1,978 |
| Total Liabilities | 2,476 | 2,585 | 2,832 | 5,728 |
| 656 | 544 | 609 | 1,717 | |
| Gross block | 882 | 899 | 1,116 | 2,380 |
| Accumulated depreciation | 226 | 355 | 507 | 663 |
| Goodwill & intangibles | 12 | 7 | 10 | 19 |
| CWIP | 23 | 45 | 65 | 609 |
| 1,798 | 1,996 | 2,158 | 3,402 | |
| Inventories | 373 | 393 | 429 | 823 |
| Trade receivables | 604 | 887 | 957 | 957 |
| Cash & equivalents | 2 | 9 | 39 | 36 |
| Current assets | 1,753 | 1,978 | 2,012 | 3,727 |
| Total Assets | 2,476 | 2,585 | 2,832 | 5,728 |
Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.
Cash Flows
Consolidated figures in ₹ crore, financial years ending March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 195 | 152 | 281 | 630 | |
| Profit for the year | 14 | 80 | 140 | 470 |
| Working capital changes | 1 | -310 | -230 | -176 |
| Direct taxes paid | -2 | -11 | -28 | -153 |
| -111 | -64 | -156 | -1,748 | |
| Fixed assets purchased | -131 | -72 | -133 | -722 |
| Fixed assets sold | 0 | 0 | 0 | |
| -102 | -81 | -95 | 1,115 | |
| Proceeds from borrowings | 27 | |||
| Repayment of borrowings | -61 | -50 | -128 | -114 |
| Interest paid | -126 | -143 | -165 | -178 |
| Net Cash Flow | -17 | 7 | 30 | -4 |
| Free Cash Flow | 64 | 80 | 148 | -93 |
Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.
Ratios
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROE | — | 4.0% | 19.7% | 16.6% | 21.3% |
| ROCE | — | 10.0% | 20.0% | 23.5% | 20.5% |
| Operating margin | — | 7.5% | 11.0% | 10.4% | 16.6% |
| Net margin | — | 0.7% | 3.2% | 4.1% | 9.8% |
| Debt / equity | — | 2.17 | 1.92 | 0.22 | 0.20 |
| Current ratio | — | 1.35 | 1.39 | 1.44 | 1.88 |
| Debtor days | — | 106 | 129 | 102 | 73 |
| Inventory days | — | 84 | 84 | 61 | 88 |
| Days payable | — | 100 | 139 | 117 | 168 |
| Cash conversion cycle | — | 90 | 74 | 46 | -7 |
| Working capital days | — | 80 | 81 | 66 | 133 |
Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.
Shareholding Pattern
Numbers in percentages · as filed with NSE each quarter
- Promoters 63.01%
- FIIs 3.10%
- DIIs 3.66%
- Public 30.23%
| % | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|
| Promoters | 63.12% | 63.01% | 63.01% | 63.01% | 63.01% |
| 2.09% | 1.83% | 2.94% | 3.37% | 3.10% | |
| Foreign portfolio investors (Cat. I) | 2.07% | 1.80% | 2.94% | 3.22% | 2.98% |
| Foreign portfolio investors (Cat. II) | 0.01% | 0.02% | 0.15% | 0.12% | |
| 6.20% | 4.71% | 4.80% | 4.03% | 3.66% | |
| Mutual funds | 4.16% | 3.46% | 3.84% | 3.66% | 3.37% |
| Insurance companies | 0.78% | 0.47% | 0.22% | 0.20% | 0.14% |
| Alternative investment funds | 0.61% | 0.75% | 0.68% | 0.08% | 0.05% |
| 28.59% | 30.45% | 29.24% | 29.59% | 30.23% | |
| Retail (up to ₹2 lakh) | 10.44% | 11.47% | 12.09% | 14.95% | 17.89% |
| HNIs (above ₹2 lakh) | 6.52% | 9.40% | 8.53% | 7.51% | 6.29% |
| NRIs | 3.19% | 0.50% | 0.55% | 0.62% | 0.73% |
| Bodies corporate | 4.51% | 5.13% | 4.78% | 3.00% | 3.15% |
| No. of Shareholders | 3,06,426 | 2,87,437 | 2,85,301 | 3,03,976 | 3,31,444 |
Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.
Mutual funds & institutions holding Vikram Solar
| Holder (above 1%) | Stake |
|---|---|
| BANDHAN Small Cap FundMutual fund | 2.66% |
As named in the shareholding pattern for Sep 2026 filed with NSE; mutual funds together hold 3.37% of the company. Shareholders below 1% are not named in the filing.
Documents
Announcements
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated October 15, 2026, which is self explanatory.15-Oct-2026
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Vikram Solar Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 201806-Oct-2026
- Trading WindowVikram Solar Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201530-Sep-2026
- Change in ManagementVikram Solar Limited has informed the Exchange about change in Management29-Sep-2026
- Bagging/Receiving of orders/contractsVikram Solar Limited has informed the Exchange about Bagging/Receiving of orders/contracts for 400 MW of high efficiency solar modules28-Sep-2026
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated September 15, 2026, which is self explanatory..15-Sep-2026
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "Vikram Solar Secures 124 MW Module Supply Order for a Solar Project in A…11-Sep-2026
- AcquisitionVikram Solar Limited has informed the Exchange about Acquisition26-Aug-2026
- Copy of Newspaper PublicationVikram Solar Limited has informed the Exchange about Copy of Newspaper Publication07-Aug-2026
- Monitoring Agency ReportPlease find enclosed the Monitoring Agency Report for the quarter ended 30th June 202606-Aug-2026
- Change in AuditorsVikram Solar Limited has informed the Exchange regarding Change in Auditors of the company.06-Aug-2026
- Outcome of Board MeetingVikram Solar Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.06-Aug-2026
Annual reports
Credit ratings
- Credit RatingVikram Solar Limited has informed the Exchange about Credit Rating12-Aug-2026
- Credit Rating- RevisionVikram Solar Limited has informed the Exchange about Credit Rating- Revision19-Dec-2025
- Credit Rating- RevisionVikram Solar Limited has informed the Exchange about Credit Rating- Revision20-Sep-2025
Concalls & investor meets
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Schedule of meet17-Sep-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Transcript13-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Schedule of meet13-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Link of Recording07-Aug-2026
- Investor PresentationVikram Solar Limited has informed the Exchange about Investor Presentation07-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Schedule of meet03-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Schedule of meet18-Jun-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Transcript13-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesVikram Solar Limited has informed the Exchange about Link of Recording08-May-2026
- Investor PresentationVikram Solar Limited has informed the Exchange about Investor Presentation08-May-2026
Filings made by the company with NSE; documents open on NSE's website.
Key dates
- Ex-dividend date
- 1 Jan 1970
- Latest quarter
- 30 Jun 2026
- Financial year end
- 31 Mar 2026
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Latest news
In the news
From the company (NSE)
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated October 15, 2026, which is self explanatory.NSE filing · 15-Oct-2026
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Vikram Solar Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018NSE filing · 06-Oct-2026
- Trading WindowVikram Solar Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015NSE filing · 30-Sep-2026
- Change in ManagementVikram Solar Limited has informed the Exchange about change in ManagementNSE filing · 29-Sep-2026
- Bagging/Receiving of orders/contractsVikram Solar Limited has informed the Exchange about Bagging/Receiving of orders/contracts for 400 MW of high efficiency solar modulesNSE filing · 28-Sep-2026
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated September 15, 2026, which is self explanatory..NSE filing · 15-Sep-2026
- Press ReleaseVikram Solar Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "Vikram Solar Secures 124 MW Module Supply Order for a Solar Project in A…NSE filing · 11-Sep-2026
- AcquisitionVikram Solar Limited has informed the Exchange about AcquisitionNSE filing · 26-Aug-2026
Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.
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