Vikram Solar Limited
₹125.40-₹2.55 (-2.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹8,316 Cr
- P/E
- 32.4x
- EV / EBITDA
- 22.1x
- Revenue
- ₹3,415 Cr
- Net margin
- 2.7%
- ROCE
- 29.8%
Price chart
Technical chartScreen technicals →-61.9% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -21.6%
- 3M
- -28.6%
- 6M
- -42.9%
- 1Y
- -61.9%
- 5Y
- -62.7%
52-week range
Day change -₹2.55 (-2.0%) from ₹128 to ₹125 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in VIKRAMSOLR, bought on each weekday since 2025.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 62.0%
Concerns0
Rule-based from financial data. Not advice.
About the company
Vikram Solar Limited manufactures and sells solar photovoltaic modules/systems in India and internationally. It also offers engineering, procurements, and construction solutions, such as risk analysis, site survey, design and engineering, procurement, civil construction, erection and commissioning, project management and control, and quality assurance.
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Vikram Solar Limited manufactures and sells solar photovoltaic modules/systems in India and internationally. It also offers engineering, procurements, and construction solutions, such as risk analysis, site survey, design and engineering, procurement, civil construction, erection and commissioning, project management and control, and quality assurance. In addition, it provides solar operations and maintenance solutions, comprising preventive and corrective maintenance, performance monitoring and analysis, equipment upgrades and retrofits, spare parts management, troubleshooting and fault resolution, and data management and reporting. It sells its products under the Suryava, Hypersol, Paradea, SOMERA, and PREXOS brand names. It also involved in rooftop projects. The company was incorporated in 2005 and is based in Kolkata, India.
- Sector
- Energy
- Shares outstanding
- 36.3 Cr shares
- ISIN
- INE078V01014
- BSE code
- 544488
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹8,316 Cr
- P/E
- 32.4x
- P/B
- 2.8x
- EV / EBITDA
- 22.1x
- EV / Sales
- 3.6x
- P/S
- 3.4x
- Earnings yield
- 3.1%
- 52-week high
- ₹348.40
- 52-week low
- ₹125.40
Profitability
- Operating margin
- 16.1%
- Net margin
- 2.7%
- EBITDA margin
- 16.2%
- ROE
- 14.5%
- ROCE
- 29.8%
- ROA
- 2.6%
- Dividend payout
- 0.0%
- Tax rate
- 33.0%
- Other income, % of PBT
- 4.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹3,415 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 39.9%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.9%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹396 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 96.0%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 107.5%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 62.0%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹170 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -1.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹7.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 6.2%
Solvency and efficiency
- Current ratio
- 1.63
- Debt / Equity
- 1.85
- Debt / Assets
- 0.33
- Debt / EBITDA
- 2.16
- Interest coverage
- 2.50
- Financial leverage
- 5.64
- CFO / Net profit
- 2.54
- Cash / Market cap
- 24.6%
- Cash per share
- ₹56.42
- Asset turnover
- 0.94
- Fixed asset turnover
- 4.95
- Capital intensity
- 0.20
- Debtor days
- 177 days
- Inventory turnover
- 4.20
- Cash conversion cycle
- 120 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹4 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹2,924 Cr |
| Sales | Operating profit | ₹491 Cr |
| Operating profit | Interest | ₹155 Cr |
| Operating profit | Depreciation | ₹156 Cr |
| Operating profit | Profit before tax | ₹180 Cr |
| Other income | Profit before tax | ₹36 Cr |
| Profit before tax | Tax and other | ₹77 Cr |
| Profit before tax | Net profit | ₹139 Cr |
Revenue and net profit
Revenue grew 39.9% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,577 Cr | ₹37 Cr |
| FY2022 | ₹1,700 Cr | -₹60 Cr |
| FY2023 | ₹2,006 Cr | ₹13 Cr |
| FY2024 | ₹2,441 Cr | ₹67 Cr |
| FY2025 | ₹3,415 Cr | ₹139 Cr |
Cash flows
FY2025: ₹299 Cr from operations, ₹119 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹19 Cr | -₹32 Cr |
| FY2022 | ₹207 Cr | ₹50 Cr |
| FY2023 | ₹173 Cr | ₹84 Cr |
| FY2024 | ₹170 Cr | ₹88 Cr |
| FY2025 | ₹299 Cr | ₹119 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹3,415 Cr+39.9%1Y
- Net profit
- ₹139 Cr+107.5%1Y
- Cash from operations
- ₹299 Cr
- Free cash flow
- ₹119 Cr+35.2%1Y
- Revenue CAGR, 5Y
- 9.9%
- EBITDA CAGR, 5Y
- 22.8%
- Net profit CAGR, 5Y
- 62.0%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹3,415 Cr | ₹491 Cr | — | ₹139 Cr | ₹299 Cr | ₹119 Cr | 11.0% | +39.9% | +107.5% |
Monthly returns
Month-by-month returns of VIKRAMSOLR across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹2,849 Cr |
| Equity capital | ₹317 Cr |
| Reserves | ₹941 Cr |
| Borrowings | ₹272 Cr |
| Other liabilities | ₹1,320 Cr |
| Assets | ₹2,849 Cr |
| Fixed assets | ₹534 Cr |
| Capital work in progress | ₹14 Cr |
| Investments | ₹119 Cr |
| Other assets | ₹2,183 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
VIKRAMSOLR trades at 32.4x earnings against a peer median of 24.8x (a 31% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Vikram Solar LimitedVIKRAMSOLRthis companyP/E ↑ premium | ₹8,316 Cr | 32.4x | 2.8x | 14.5% | 22.1x |
| Jaiprakash Power Ventures LimitedJPPOWER | ₹11,397 Cr | 15.4x | 0.9x | 6.0% | 8.2x |
| Sandur Manganese & Iron Ores Ltd.SANDUMA | ₹11,074 Cr | 21.9x | 4.0x | 11.0% | 27.3x |
| Mahanagar Gas LimitedMGL | ₹10,511 Cr | 10.6x | 1.7x | 25.1% | 5.2x |
| KPI Green Energy LimitedKPIGREEN | ₹8,822 Cr | 26.7x | 4.1x | 13.9% | 38.0x |
| Power Mech Projects LimitedPOWERMECH | ₹7,309 Cr | 25.0x | 3.3x | 13.3% | 14.0x |
| INOX GREEN ENERGY SERVICES LIMITEDINOXGREEN | ₹7,018 Cr | 153.0x | 3.3x | 0.9% | 74.3x |
| MOIL LimitedMOIL | ₹6,920 Cr | 23.0x | 2.6x | 11.9% | 12.5x |
| BOROSIL RENEWABLES LIMITEDBORORENEW | ₹6,911 Cr | 55.1x | 7.3x | -2.0% | 60.3x |
| Peer median | — | 24.8x | 3.1x | 12.8% | 15.7x |
Year-to-date ROI
VIKRAMSOLR since 1 January, against earlier years.
Historical volatility
VIKRAMSOLR's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 11.0% |
| FY2022 | 3.0% |
| FY2023 | 9.0% |
| FY2024 | 16.0% |
| FY2025 | 14.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹3,415 Cr |
| Costs | |
| Interest | ₹155 Cr |
| Expenses | ₹2,925 Cr |
| Operating profitOperating Profit | ₹491 Cr |
| Other income and charges | |
| Profit before tax | ₹216 Cr |
| Tax | |
| Net profitNet Profit | ₹139 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹2,849 Cr |
| Equity capitalEquity Capital | ₹317 Cr |
| Reserves | ₹941 Cr |
| Borrowings | ₹272 Cr |
| Other liabilitiesOther Liabilities | ₹1,320 Cr |
| AssetsTotal Assets | ₹2,849 Cr |
| Fixed assetsFixed Assets | ₹534 Cr |
| Capital work in progressCWIP | ₹14 Cr |
| Investments | ₹119 Cr |
| Other assetsOther Assets | ₹2,183 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹299 Cr |
| Investing cash flowCash from Investing Activity | -₹180 Cr |
| Financing cash flowCash from Financing Activity | -₹97 Cr |
| Change in cashNet Cash Flow | ₹22 Cr |
Learn while you research
Academy chapters picked for Vikram Solar Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 32.4, learn when high multiples are justified.6 min read
- 04 Growth Investing40% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Leverage RatiosDebt/Equity of 1.85 is elevated, understand what that means for solvency.6 min read
- 06 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read