Vikram Solar

  • Market Cap: Small Cap
  • Industry: Other Electrical Equipment
  • ISIN: INE078V01014
  • NSEID: VIKRAMSOLR
  • BSEID: 544488
INR
214.74
-10.51 (-4.67%)
BSENSE

May 08

BSE+NSE Vol: 62.03 lacs

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

62.03 lacs (83.11%) 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.

Answer:<BR>The historical performance of Vikram Solar shows significant growth in various financial metrics as of March 2025.<BR><BR>Breakdown:<BR>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.

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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.

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%. <BR><BR>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.

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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.

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

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Are Vikram Solar Ltd latest results good or bad?

08-May-2026

Vikram Solar Ltd's latest results show strong revenue growth, with a 31.36% increase quarter-on-quarter, but declining operating margins and rising costs raise concerns about profitability. Overall, the results are positive in terms of revenue but highlight challenges in maintaining margins.

Vikram Solar Ltd's latest results present a mixed picture. On the positive side, the company reported a significant increase in revenue, achieving ₹1,452.82 crores in Q4 FY26, which marks a 31.36% growth quarter-on-quarter and a 21.73% increase year-on-year. This is the highest quarterly revenue the company has recorded, driven by strong order execution in the solar module segment.<BR><BR>Net profit also showed improvement, rising to ₹110.42 crores, which is a 12.50% increase from the previous quarter and a 21.86% increase year-on-year. However, this growth in profit did not keep pace with the revenue increase, indicating potential challenges in maintaining profitability.<BR><BR>On the downside, the operating margin has contracted to 16.14%, down from 18.53% in the previous quarter and 18.74% a year ago. This decline in margins raises concerns about the company's ability to manage costs effectively amidst rising input prices and competitive pressures. Additionally, the profit after tax margin decreased to 7.60%, reflecting similar pressures.<BR><BR>The increase in interest costs, which surged to ₹56.55 crores, is another area of concern, as it impacts overall profitability and suggests rising working capital needs. <BR><BR>In summary, while Vikram Solar has demonstrated strong revenue growth, the erosion of margins and rising costs present challenges that investors should monitor closely. The results can be seen as good in terms of revenue growth but concerning regarding profitability and margin sustainability.

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Why is Vikram Solar Ltd falling/rising?

09-May-2026

As of 08-May, Vikram Solar Ltd's stock price is declining, currently at Rs 214.70, reflecting a 4.7% drop. The stock has underperformed the sector and benchmark, with a year-to-date decline of 9.79%, despite a recent increase in investor interest.

As of 08-May, Vikram Solar Ltd's stock price is falling, currently at Rs 214.70, which reflects a decrease of Rs 10.6 or 4.7%. This decline is part of a broader trend, as the stock has underperformed the sector by 3.53% today and has experienced consecutive falls over the last two days, totaling a drop of 4.92% during this period. The stock also touched an intraday low of Rs 214, marking a decrease of 5.02%.<BR><BR>In terms of performance relative to the benchmark, over the past week, Vikram Solar has decreased by 2.21%, while the Sensex has increased by 0.54%. Year-to-date, the stock has fallen by 9.79%, slightly more than the Sensex's decline of 9.26%. Despite a positive monthly performance with a rise of 12.20%, the overall trend indicates a struggle for the stock in the short term.<BR><BR>Investor participation has seen an increase, with delivery volume rising by 86.48% against the 5-day average, indicating some interest in the stock despite its current price decline. However, the stock's moving averages suggest mixed signals, being higher than the 50-day and 100-day moving averages but lower than the 5-day, 20-day, and 200-day moving averages.<BR><BR>Overall, the combination of recent price drops, underperformance against the sector and benchmark, and the current market conditions contribute to the falling stock price of Vikram Solar Ltd.

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Should I buy, sell or hold Vikram Solar Ltd?

09-May-2026
iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

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

 
2

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

 
3

Flat results in Mar 26

4

With ROE of 16, it has a Very Attractive valuation with a 2.6 Price to Book Value

5

Increasing Participation by Institutional Investors

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Other Electrical Equipment

stock-summary
Market cap

INR 7,901 Cr (Small Cap)

stock-summary
P/E

16.00

stock-summary
Industry P/E

64

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

-0.49

stock-summary
Return on Equity

4.70%

stock-summary
Price to Book

2.76

Revenue and Profits:
Net Sales:
1,453 Cr
(Quarterly Results - Mar 2026)
Net Profit:
110 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
3.21%
0%
3.21%
6 Months
-33.17%
0%
-33.17%
1 Year
0%
0%
0.0%
2 Years
0%
0%
0.0%
3 Years
0%
0%
0.0%
4 Years
0%
0%
0.0%
5 Years
0%
0%
0.0%

Vikram Solar for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Vikram Solar Ltd Falls 2.85%: 5 Key Factors Shaping This Week’s Market Moves

Key Events This Week

4 May: Week opens at Rs.221.00 with cautious market sentiment

5 May: Technical momentum shifts amid mixed market returns, stock dips 2.08%

6 May: Strong 4.34% rally on improving technicals and financials

7 May: MarketsMOJO upgrades rating to Hold; technical momentum turns mildly bullish

8 May: Flat quarterly performance reported amid margin pressures; stock falls 4.70%

Announcements stock-summary

Icon
No announcement available

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
30.50%
EBIT Growth (5y)
68.45%
EBIT to Interest (avg)
2.36
Debt to EBITDA (avg)
0.54
Net Debt to Equity (avg)
0.01
Sales to Capital Employed (avg)
1.65
Tax Ratio
27.45%
Dividend Payout Ratio
0
Pledged Shares
6.77%
Institutional Holding
7.74%
ROCE (avg)
23.41%
ROE (avg)
10.18%

Valuation key factors

Factor
Value
P/E Ratio
16
Industry P/E
64
Price to Book Value
2.63
EV to EBIT
8.42
EV to EBITDA
6.93
EV to Capital Employed
4.18
EV to Sales
1.32
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
49.64%
ROE (Latest)
15.98%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
RSI
No Signal
Bollinger Bands
Sideways
KST
Dow Theory
Mildly Bearish
No Trend
OBV
Mildly Bullish
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
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%

stock-summaryFinancial
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          "field": "Operating Profit (PBDIT) excl Other Income",
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          "val1": "359.09",
          "val2": "56.26",
          "chgp": "538.27%",
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Quarterly Results Snapshot (Standalone) - Mar'26 - QoQstock-summary

Mar'26
Dec'25
Change(%)
Net Sales
1,452.60
1,105.77
31.37%
Operating Profit (PBDIT) excl Other Income
234.51
203.36
15.32%
Interest
56.48
40.13
40.74%
Exceptional Items
0.00
-5.62
100.00%
Standalone Net Profit
109.97
96.44
14.03%
Operating Profit Margin (Excl OI)
16.14%
18.39%
-2.25%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is 31.37% vs -0.37% in Dec 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Mar 2026 is 14.03% vs -24.80% in Dec 2025

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

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
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.
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

Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary

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.
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

Annual Results Snapshot (Standalone) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
4,803.43
3,415.45
40.64%
Operating Profit (PBDIT) excl Other Income
916.06
490.57
86.73%
Interest
160.40
154.66
3.71%
Exceptional Items
-5.62
0.00
Standalone Net Profit
469.06
139.10
237.21%
Operating Profit Margin (Excl OI)
19.07%
14.36%
4.71%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is 40.64% vs 39.93% in Mar 2025

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2026 is 237.21% vs 108.17% in Mar 2025

stock-summaryCompany CV
About Vikram Solar Ltd stock-summary
stock-summary
Vikram Solar Ltd
Small Cap
Other Electrical Equipment
No Details Available.
Company Coordinates stock-summary
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No Company Details Available