VIKRAMSOLR Share Price | Vikram Solar Ltd Stock Analysis & Recommendation

Q: How has been the historical performance of Vikram Solar?

Answer:The historical performance of Vikram Solar shows significant growth in various financial metrics as of March 2025.Breakdown:Vikram Solar reported a total operating income of 3,423.45 crore in March 2025, with a raw material cost of 2,589.81 crore, leading to a total expenditure of 2,931.44 crore. This resulted in an operating profit (PBDIT) of 528.08 crore, and after accounting for interest and depreciation, the profit before tax stood at 217.36 crore. The profit after tax was recorded at 139.83 crore, translating to an earnings per share (EPS) of 4.42. The operating profit margin was 14.37%, while the profit after tax margin was 4.08%. On the balance sheet, total assets reached 2,832.08 crore, with total liabilities at 2,832.08 crore as well, indicating a balanced position. Shareholder's funds increased significantly to 1,241.99 crore, supported by a rise in total reserves to 925.45 crore. Cash flow from operating activities was 298 crore, contributing to a net cash inflow of 30 crore, with closing cash and cash equivalents at 39 crore. Overall, Vikram Solar has demonstrated a strong upward trend in financial performance and stability.

Q: Is Vikram Solar overvalued or undervalued?

As of 25 November 2025, Vikram Solar's valuation grade has moved from very expensive to expensive, indicating a slight improvement in its perceived value. The company is currently considered overvalued. Key ratios include a PE ratio of 70.56, an EV to EBITDA of 17.07, and a ROCE of 22.03%. In comparison to its peers, Siemens Energy has a PE ratio of 100.29 and an EV to EBITDA of 72.94, while ABB stands at a PE of 60.6 and an EV to EBITDA of 47.28. Despite these high valuations among peers, Vikram Solar's ratios suggest it is still trading at a premium, particularly given its low ROE of 4.70%. Additionally, the company's recent stock performance has lagged behind the Sensex, with a 1-month return of -19.33% compared to a 0.45% gain in the index, reinforcing the notion that it may be overvalued.

Q: Should I buy, sell or hold Vikram Solar Ltd?

Based on the current analysis of Vikram Solar Ltd, it may be advisable to consider selling your shares. The company has a relatively low return on equity (ROE) of 4.7%, and its valuation appears expensive with a price-to-book ratio of 2.6. Additionally, a significant 48.2% of promoter shares are pledged, which can exert downward pressure on the stock price, especially in a declining market.While the company has shown impressive profit growth of 87% over the past year and has reported positive results in the last two quarters, the concerns regarding the high percentage of pledged shares and the expensive valuation suggest caution. On the positive side, Vikram Solar has a manageable debt-to-equity ratio of 0.99, and it has demonstrated strong long-term growth with net sales increasing at an annual rate of 30.50% and operating profit at 68.45%. However, given the current risks, a sell recommendation seems prudent.

Q: Why is Vikram Solar Ltd falling/rising?

As of 05-May, Vikram Solar Ltd's stock price is currently falling, with a change of -4.6, representing a decrease of 2.08%. This decline is evident in today's performance, where the stock has underperformed its sector by 2.58%. The stock reached an intraday high of Rs 227 but also touched a low of Rs 215.25, indicating volatility within the trading day.In terms of broader performance, the stock has seen a 1-week decline of 4.44%, contrasting with a slight increase of 0.17% in the Sensex during the same period. Year-to-date, the stock has dropped by 9.08%, although it has shown a positive trend over the past month with a gain of 16.53%. However, the overall year-to-date performance still lags behind the benchmark index, which has decreased by 9.63%.Investor participation appears to be waning, as evidenced by a 29.11% drop in delivery volume compared to the 5-day average, suggesting reduced interest from retail investors. Additionally, while the company has reported strong growth in net sales and operating profit, the stock's valuation is considered expensive with a Price to Book Value of 2.7 and a return on equity (ROE) of only 4.7. This combination of factors may contribute to the current downward pressure on the stock price.

Upcoming Result: Vikram Solar will declare its result soon on 07 May 2026

Price Point

High/Low

1Day

52 Week

Valuation

Technical

Day's Volume

CASH

38.53 lacs (79.52%) Volume

Shareholding (Mar 2026)

FII

2.94%

Held by 15 FIIs

DII

0.75%

Held by 8 DIIs

Promoter

63.01%

How has been the historical performance of Vikram Solar?

16-Oct-2025

Vikram Solar's historical performance as of March 2025 shows significant growth, with an operating income of 3,423.45 crore, a profit after tax of 139.83 crore, and a strong operating profit margin of 14.37%. The company also reported balanced total assets and liabilities of 2,832.08 crore, indicating financial stability.

View full answer

Is Vikram Solar overvalued or undervalued?

26-Nov-2025

As of November 25, 2025, Vikram Solar is considered overvalued with a valuation grade of "expensive," a PE ratio of 70.56, and an EV to EBITDA of 17.07%, despite a low ROE of 4.70% and recent stock performance lagging behind the Sensex.

View full answer

Should I buy, sell or hold Vikram Solar Ltd?

11-Apr-2026

When is the next results date for Vikram Solar Ltd?

05-May-2026

The next results date for Vikram Solar Ltd is 07 May 2026.

View full answer

Why is Vikram Solar Ltd falling/rising?

06-May-2026

As of 05-May, Vikram Solar Ltd's stock price is declining, down 2.08% with a year-to-date drop of 9.08%. Despite recent gains, investor interest is waning, and the stock's valuation appears high relative to its performance metrics.

View full answer

Which are the latest news on Vikram Solar?

06-May-2026

When is the next results date for Vikram Solar Ltd?
Vikram Solar Ltd is Rated Sell

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Score

Click here to find our call on this stock

Strong Sell

Sell

Hold

Buy

Strong Buy

Dashboard

Company has a Debt to Equity ratio (avg) of 0.99 times

Healthy long term growth as Net Sales has grown by an annual rate of 30.50% and Operating profit at 68.45%

The company has declared Positive results for the last 2 consecutive quarters

With ROE of 4.7, it has a Expensive valuation with a 2.8 Price to Book Value

Increasing Participation by Institutional Investors

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

Industry

Other Electrical Equipment

Market cap

INR 7,937 Cr (Small Cap)

P/E

18.00

Industry P/E

Dividend Yield

0.00%

Debt Equity

-0.49

Return on Equity

4.70%

Price to Book

2.66

Revenue and Profits:

Net Sales:

1,106 Cr

(Quarterly Results - Dec 2025)

Net Profit:

98 Cr

Total Returns

Total Returns (Price + Dividend)

Dividend Yield (0%)

TimePeriod

Price Return

Dividend Return

Total Return

3 Months

8.56%

6 Months

-28.33%

1 Year

0.0%

2 Years

0.0%

3 Years

0.0%

4 Years

0.0%

5 Years

0.0%

Vikram Solar for the last several years.

Risk Adjusted Returns v/s

Returns Beta

Beta has not been calculated since enough price history is not available

News & Corporate Actions

News

When is the next results date for Vikram Solar Ltd?

The next results date for Vikram Solar Ltd is scheduled for 07 May 2026....

Read full news article

Vikram Solar Ltd is Rated Sell

Vikram Solar Ltd is rated Sell by MarketsMOJO, with this rating last updated on 10 Apr 2026. However, the analysis and financial metrics discussed here reflect the stock’s current position as of 05 May 2026, providing investors with an up-to-date view of the company’s fundamentals, valuation, financial trends, and technical outlook.

Read full news article

Vikram Solar Ltd Technical Momentum Shifts Amid Mixed Market Returns

Vikram Solar Ltd, a small-cap player in the Other Electrical Equipment sector, has experienced a notable shift in its technical momentum, moving from a mildly bearish stance to a sideways trend. Despite a modest day gain of 0.66%, the stock’s technical indicators present a complex picture, with mixed signals from MACD, RSI, and moving averages, prompting a downgrade in its Mojo Grade from Hold to Sell as of 10 April 2026.

Read full news article

Announcements

Board Meeting Intimation for Consideration And Approval Of The Audited Financial Results (Standalone And Consolidated) Along With Audit Report Of The Statutory Auditors Thereon Of The Company For The Quarter And Year Ended March 31 2026

04-May-2026 | Source : BSE

Vikram Solar Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2026 inter alia to consider and approve the Audited Financial Results (Standalone and Consolidated) along with Audit Report of the Statutory Auditors thereon of the Company for the Quarter and year ended March 31 2026

Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A

30-Apr-2026 | Source : BSE

Format of Initial Disclosure to be made by an entity identified as a Large Corporate.

Sr. No.	Particulars	Details
1	Name of Company	Vikram Solar Ltd
2	CIN NO.	L18100WB2005PLC106448
3	Outstanding borrowing of company as on 31st March / 31st December as applicable (in Rs cr)	0.00
4	Highest Credit Rating during the previous FY	A+
4a	Name of the Credit Rating Agency issuing the Credit Rating mentioned in (4)	INDIA RATINGS AND RESEARCH PVT. LTD.
5	Name of Stock Exchange# in which the fine shall be paid in case of shortfall in the required borrowing under the framework	BSE

We confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26 2018. No

Name of the Company Secretary: Sudipta Bhowal
Designation: Company Secretary and Compliance Officer
EmailId: sudipta.bhowal@vikramsolar.com

Name of the Chief Financial Officer: Ranjan Kumar Jindal
Designation: Chief Financial Officer
EmailId: ranjan.jindal@vikramsolar.com

Date: 30/04/2026

Note: In terms para of 3.2(ii) of the circular beginning F.Y 2022 in the event of shortfall in the mandatory borrowing through debt securities a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore an entity identified as LC shall provide in its initial disclosure for a financial year the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018

14-Apr-2026 | Source : BSE

Please find enclosed Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations 2018 for the quarter ended 31.03.2026

Corporate Actions

BOARD MEETING

07 May 2026

DIVIDEND

No Dividend history available

SPLITS

No Splits history available

BONUS

No Bonus history available

RIGHTS

No Rights history available

Key Factors

Quality key factors

Factor

Value

Sales Growth (5y)

30.50%

EBIT Growth (5y)

68.45%

EBIT to Interest (avg)

1.58

Debt to EBITDA (avg)

0.54

Net Debt to Equity (avg)

0.01

Sales to Capital Employed (avg)

1.65

Tax Ratio

35.65%

Dividend Payout Ratio

Pledged Shares

6.77%

Institutional Holding

7.74%

ROCE (avg)

23.41%

ROE (avg)

10.18%

Valuation key factors

Factor

Value

P/E Ratio

Industry P/E

Price to Book Value

2.77

EV to EBIT

20.17

EV to EBITDA

13.75

EV to Capital Employed

4.44

EV to Sales

1.98

PEG Ratio

Dividend Yield

ROCE (Latest)

22.03%

ROE (Latest)

4.70%

Technicals key factors

Indicator

Weekly

Monthly

MACD

Mildly Bullish

RSI

No Signal

Bollinger Bands

Bullish

KST

Dow Theory

No Trend

OBV

Mildly Bullish

No Trend

Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned

Shareholding

Shareholding Snapshot : Mar 2026

Shareholding Compare (%holding)

Majority shareholders

Promoters

Pledged Promoter Holdings

6.7667

Mutual Funds

Held by 11 Schemes (3.84%)

FIIs

Held by 15 FIIs (2.94%)

Promoter with highest holding

Vikram Capital Management Private Limited (30.85%)

Highest Public shareholder

Arpit Khandelwal (2.76%)

Individual Investors Holdings

20.61%

Financial

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          "field": "Operating Profit Margin (Excl OI)",
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Quarterly Results Snapshot (Standalone) - Dec'25 - QoQ

Dec'25

Sep'25

Change(%)

Net Sales

1,105.77

1,109.91

-0.37%

Operating Profit (PBDIT) excl Other Income

203.36

234.40

-13.24%

Interest

40.13

31.55

27.19%

Exceptional Items

-5.62

0.00

Standalone Net Profit

96.44

128.24

-24.80%

Operating Profit Margin (Excl OI)

18.39%

21.12%

-2.73%

Values in Rs Cr.

Compare with Peers

Net Sales
QoQ Growth in quarter ended Dec 2025 is -0.37% vs -2.22% in Sep 2025

Standalone Net Profit
QoQ Growth in quarter ended Dec 2025 is -24.80% vs -4.60% in Sep 2025

All Quarterly Results

Half Yearly Results Snapshot (Standalone) - Sep'25

Sep'25

Sep'24

Change(%)

Net Sales

2,245.07

1,205.48

86.24%

Operating Profit (PBDIT) excl Other Income

478.20

191.78

149.35%

Interest

63.80

79.44

-19.69%

Exceptional Items

0.00

Standalone Net Profit

262.65

35.34

643.21%

Operating Profit Margin (Excl OI)

21.30%

15.91%

5.39%

Values in Rs Cr.

Compare with Peers

Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Half Yearly Results

Nine Monthly Results Snapshot (Standalone) - Dec'25

Dec'25

Dec'24

Change(%)

Net Sales

3,350.84

2,232.24

50.11%

Operating Profit (PBDIT) excl Other Income

681.56

279.14

144.16%

Interest

103.93

109.43

-5.03%

Exceptional Items

-5.62

0.00

Standalone Net Profit

359.09

56.26

538.27%

Operating Profit Margin (Excl OI)

20.34%

12.50%

7.84%

Values in Rs Cr.

Compare with Peers

Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Nine Monthly Results

Annual Results Snapshot (Standalone) - Mar'25

Mar'25

Mar'24

Change(%)

Net Sales

3,415.45

2,440.82

39.93%

Operating Profit (PBDIT) excl Other Income

490.57

391.78

25.22%

Interest

154.66

157.17

-1.60%

Exceptional Items

0.00

-11.64

100.00%

Standalone Net Profit

139.10

66.82

108.17%

Operating Profit Margin (Excl OI)

14.36%

16.05%

-1.69%

Values in Rs Cr.

Compare with Peers

Net Sales
YoY Growth in year ended Mar 2025 is 39.93% vs 21.65% in Mar 2024

Standalone Net Profit
YoY Growth in year ended Mar 2025 is 108.17% vs 426.14% in Mar 2024

All Annual Results

Company CV

About Vikram Solar Ltd

Vikram Solar Ltd

Small Cap

Other Electrical Equipment

No Details Available.

Company Coordinates

No Company Details Available

Stock List

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