WEBSITE BSE:544488 NSE: VIKRAMSOLR Inc. Year: 2005 Industry: Electronics - Components My Bucket: Add Stock
Last updated: 15:59
Vikram Solar Ltd. is a leading provider of solar energy solutions in India, with a specialized focus on high-efficiency photovoltaic (PV) module manufacturing, and an integrated Engineering, Procurement & Construction (EPC) service offering. With an emphasis on innovation, the company has developed advanced mono-PERC, bifacial and half-cut cell modules for utility, commercial, industrial and residential applications. Vikram Solar has developed a strong global presence in the form of exported modules to numerous countries and marquee clients in ...Read More
Vikram Solar Ltd. is a leading provider of solar energy solutions in India, with a specialized focus on high-efficiency photovoltaic (PV) module manufacturing, and an integrated Engineering, Procurement & Construction (EPC) service offering. With an emphasis on innovation, the company has developed advanced mono-PERC, bifacial and half-cut cell modules for utility, commercial, industrial and residential applications. Vikram Solar has developed a strong global presence in the form of exported modules to numerous countries and marquee clients in the renewable energy sector. With one of its primary manufacturing facilities located in India, along with an R&D led product development process, and an established track-record for delivery of large solar projects, the company plays a critical role in the clean energy transition in India, and in advancing India’s local solar manufacturing base ...Read Less
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Market Cap ₹8072 Cr.
Stock P/E 57.7
P/B 2.6
Current Price ₹222.8
Book Value ₹ 84.1
Face Value 10
52W High ₹407.9
Dividend Yield 0%
52W Low ₹ 162.2
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|
| Net Sales | 631 | 573 | 1026 | 1134 | 1110 | 1106 |
| Other Income | 6 | 11 | 12 | 4 | 16 | 20 |
| Total Income | 637 | 583 | 1038 | 1138 | 1126 | 1126 |
| Total Expenditure | 519 | 501 | 941 | 891 | 875 | 901 |
| Operating Profit | 118 | 83 | 97 | 246 | 251 | 225 |
| Interest | 45 | 34 | 28 | 32 | 32 | 40 |
| Depreciation | 37 | 37 | 39 | 34 | 35 | 37 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -6 |
| Profit Before Tax | 36 | 11 | 30 | 181 | 184 | 143 |
| Provision for Tax | 13 | 4 | 11 | 47 | 56 | 45 |
| Profit After Tax | 23 | 7 | 19 | 133 | 128 | 98 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 23 | 7 | 19 | 133 | 128 | 98 |
| Adjusted Earnings Per Share | 0.7 | 0.2 | 0.6 | 4.2 | 3.6 | 2.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 641 | 933 | 1719 | 1903 | 1956 | 1640 | 1610 | 1730 | 2073 | 2511 | 3423 | 4376 |
| Other Income | 5 | 8 | 18 | 33 | 15 | 22 | 18 | 13 | 19 | 13 | 36 | 52 |
| Total Income | 646 | 941 | 1737 | 1936 | 1972 | 1662 | 1628 | 1743 | 2092 | 2524 | 3460 | 4428 |
| Total Expenditure | 553 | 809 | 1559 | 1778 | 1793 | 1500 | 1433 | 1672 | 1887 | 2112 | 2931 | 3608 |
| Operating Profit | 93 | 132 | 179 | 158 | 178 | 162 | 195 | 71 | 205 | 412 | 528 | 819 |
| Interest | 37 | 50 | 65 | 68 | 91 | 95 | 99 | 103 | 122 | 155 | 155 | 132 |
| Depreciation | 11 | 17 | 23 | 27 | 28 | 37 | 39 | 48 | 64 | 138 | 156 | 145 |
| Exceptional Income / Expenses | -11 | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12 | 0 | -6 |
| Profit Before Tax | 34 | 62 | 91 | 63 | 59 | 30 | 56 | -79 | 19 | 107 | 217 | 538 |
| Provision for Tax | 10 | 7 | 21 | 13 | 18 | 8 | 18 | -16 | 4 | 28 | 78 | 159 |
| Profit After Tax | 24 | 55 | 70 | 51 | 41 | 23 | 38 | -63 | 14 | 80 | 140 | 378 |
| Adjustments | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 24 | 55 | 70 | 51 | 41 | 23 | 38 | -63 | 14 | 80 | 140 | 378 |
| Adjusted Earnings Per Share | 0.8 | 1.8 | 2.3 | 1.6 | 1.3 | 0.7 | 1.5 | -2.4 | 0.6 | 3.1 | 4.4 | 11.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 36% | 26% | 16% | 18% |
| Operating Profit CAGR | 28% | 95% | 27% | 19% |
| PAT CAGR | 75% | 0% | 44% | 19% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 17% | 13% | 7% | 13% |
| ROCE Average | 27% | 21% | 16% | 15% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 155 | 218 | 259 | 310 | 348 | 362 | 414 | 351 | 365 | 445 | 1242 |
| Minority's Interest | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 176 | 254 | 258 | 263 | 204 | 187 | 230 | 264 | 214 | 199 | 77 |
| Other Non-Current Liabilities | 20 | 20 | 4 | 27 | 57 | 40 | 104 | 139 | 601 | 519 | 115 |
| Total Current Liabilities | 351 | 437 | 654 | 690 | 825 | 987 | 1050 | 1482 | 1296 | 1422 | 1397 |
| Total Liabilities | 702 | 930 | 1175 | 1290 | 1434 | 1576 | 1798 | 2237 | 2476 | 2585 | 2832 |
| Fixed Assets | 173 | 363 | 317 | 299 | 335 | 357 | 381 | 547 | 644 | 505 | 554 |
| Other Non-Current Assets | 92 | 20 | 63 | 101 | 68 | 88 | 151 | 71 | 79 | 102 | 117 |
| Total Current Assets | 438 | 547 | 796 | 890 | 1030 | 1132 | 1266 | 1619 | 1753 | 1978 | 2161 |
| Total Assets | 702 | 930 | 1175 | 1290 | 1434 | 1576 | 1798 | 2237 | 2476 | 2585 | 2832 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 5 | 8 | 3 | 4 | 4 | 15 | 32 | 9 | 19 | 2 | 9 |
| Cash Flow from Operating Activities | 2 | -105 | -28 | 128 | 252 | 227 | 13 | 201 | 195 | 152 | 299 |
| Cash Flow from Investing Activities | -111 | -67 | -4 | -51 | -38 | -36 | -40 | -155 | -111 | -64 | -169 |
| Cash Flow from Financing Activities | 112 | 198 | 32 | -78 | -202 | -174 | 4 | -36 | -102 | -81 | -100 |
| Net Cash Inflow / Outflow | 3 | 27 | 0 | -0 | 11 | 16 | -23 | 10 | -17 | 7 | 30 |
| Closing Cash & Cash Equivalent | 8 | 35 | 4 | 4 | 15 | 32 | 9 | 19 | 2 | 9 | 39 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.82 | 1.79 | 2.27 | 1.65 | 1.34 | 0.73 | 1.48 | -2.43 | 0.56 | 3.08 | 4.42 |
| CEPS(Rs) | 1.2 | 2.35 | 3.02 | 2.52 | 2.25 | 1.93 | 2.98 | -0.58 | 3.03 | 8.41 | 9.35 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 5.23 | 7.1 | 8.45 | 10.1 | 11.32 | 11.78 | 16.01 | 13.57 | 14.11 | 17.21 | 39.05 |
| Core EBITDA Margin(%) | 13.78 | 13.23 | 9.35 | 6.58 | 8.34 | 8.53 | 10.98 | 3.39 | 8.98 | 15.87 | 14.37 |
| EBIT Margin(%) | 11.12 | 12.08 | 9.04 | 6.91 | 7.69 | 7.65 | 9.67 | 1.35 | 6.8 | 10.43 | 10.87 |
| Pre Tax Margin(%) | 5.36 | 6.7 | 5.27 | 3.33 | 3.02 | 1.86 | 3.49 | -4.59 | 0.91 | 4.27 | 6.35 |
| PAT Margin (%) | 3.77 | 5.9 | 4.05 | 2.66 | 2.1 | 1.37 | 2.37 | -3.64 | 0.7 | 3.17 | 4.08 |
| Cash Profit Margin (%) | 5.51 | 7.73 | 5.4 | 4.06 | 3.53 | 3.62 | 4.78 | -0.86 | 3.78 | 8.67 | 8.64 |
| ROA(%) | 3.44 | 6.75 | 6.61 | 4.11 | 3.02 | 1.5 | 2.26 | -3.12 | 0.61 | 3.15 | 5.16 |
| ROE(%) | 15.65 | 29.54 | 29.15 | 17.76 | 12.5 | 6.34 | 9.84 | -16.44 | 4.05 | 19.67 | 16.63 |
| ROCE(%) | 12.49 | 15.94 | 17.12 | 13.25 | 15.37 | 13.75 | 16.26 | 2.24 | 13.06 | 22.23 | 27.29 |
| Receivable days | 71.89 | 68.93 | 72.15 | 93.79 | 99.17 | 119.17 | 143.7 | 174.39 | 165.18 | 155.85 | 128.68 |
| Inventory Days | 87.05 | 76.58 | 48.81 | 40.08 | 37.66 | 48.27 | 47.56 | 48.3 | 56.18 | 55.72 | 43.82 |
| Payable days | 70.61 | 36.94 | 26.79 | 36.27 | 64.99 | 129.09 | 148.94 | 106.44 | 55.32 | 44.66 | 26.59 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.54 | 0.66 | 0.4 | 0.34 | 0.27 | 0.27 | 0.34 | 0.48 | 0.43 | 0.38 | 0.1 |
| EV/Core EBITDA(x) | 3.69 | 4.7 | 3.81 | 4.14 | 2.92 | 2.69 | 2.79 | 11.57 | 4.36 | 2.31 | 0.68 |
| Net Sales Growth(%) | 0 | 45.4 | 84.33 | 10.68 | 2.8 | -16.18 | -1.8 | 7.46 | 19.82 | 21.11 | 36.34 |
| EBIT Growth(%) | 0 | 58.03 | 37.86 | -15.34 | 14.36 | -16.66 | 24.16 | -84.95 | 501.33 | 85.85 | 42.07 |
| PAT Growth(%) | 0 | 127.55 | 26.43 | -27.31 | -18.68 | -45.31 | 69.72 | -264.79 | 123.02 | 450.12 | 75.41 |
| EPS Growth(%) | 0 | 119.53 | 26.48 | -27.3 | -18.69 | -45.31 | 101.42 | -264.79 | 123.03 | 450.08 | 43.43 |
| Debt/Equity(x) | 2.69 | 2.86 | 2.75 | 2.27 | 1.71 | 1.43 | 1.5 | 2 | 2.02 | 1.81 | 0.19 |
| Current Ratio(x) | 1.25 | 1.25 | 1.22 | 1.29 | 1.25 | 1.15 | 1.21 | 1.09 | 1.35 | 1.39 | 1.55 |
| Quick Ratio(x) | 0.81 | 0.71 | 0.88 | 1.01 | 1 | 0.92 | 1.02 | 0.91 | 1.06 | 1.11 | 1.24 |
| Interest Cover(x) | 1.93 | 2.24 | 2.4 | 1.93 | 1.65 | 1.32 | 1.56 | 0.23 | 1.15 | 1.69 | 2.4 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Jun 2025 | Aug 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Promoter | 63.12 | 63.12 | 63.12 | 63.01 | 63.01 |
| FII | 3.04 | 3.04 | 2.09 | 1.83 | 2.94 |
| DII | 5.89 | 5.89 | 5.55 | 4.68 | 4.74 |
| Public | 27.95 | 27.95 | 29.24 | 30.48 | 29.3 |
| Others | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2025 | Aug 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Promoter | 22.83 | 22.83 | 22.83 | 22.83 | 22.83 |
| FII | 1.1 | 1.1 | 0.75 | 0.66 | 1.06 |
| DII | 2.13 | 2.13 | 2.01 | 1.7 | 1.72 |
| Public | 10.11 | 10.11 | 10.58 | 11.04 | 10.62 |
| Others | 0 | 0 | 0 | 0 | 0 |
| Total | 36.17 | 36.17 | 36.17 | 36.23 | 36.23 |
* The pros and cons are machine generated.
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