About
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.
Key Metrics
as of Sep 2026Market Cap6,115 Cr
P/E17.00
Div Yield0.00 %
Book Value₹87.60
52w High₹408.00
52w Low₹155.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,536.00 | 1,453.00 | 1,106.00 | 1,110.00 | 1,135.00 | 1,183.00 | 1,027.00 | 574.00 | 632.00 |
| Expenses | 1,411.00 | 1,218.00 | 902.00 | 876.00 | 891.00 | 972.00 | 939.00 | 496.00 | 518.00 |
| Operating Profit | 125.00 | 235.00 | 203.00 | 234.00 | 244.00 | 211.00 | 87.00 | 78.00 | 114.00 |
| OPM % | 8.00 | 16.00 | 18.00 | 21.00 | 21.00 | 18.00 | 9.00 | 14.00 | 18.00 |
| Other Income | 13.00 | 18.00 | 14.00 | 16.00 | 4.00 | 5.00 | 14.00 | 10.00 | 7.00 |
| Depreciation | 64.00 | 57.00 | 37.00 | 35.00 | 34.00 | 42.00 | 39.00 | 37.00 | 37.00 |
| Interest | 49.00 | 56.00 | 40.00 | 32.00 | 32.00 | 45.00 | 30.00 | 34.00 | 46.00 |
| Profit before tax | 24.00 | 139.00 | 141.00 | 184.00 | 182.00 | 129.00 | 33.00 | 17.00 | 38.00 |
| Tax % | 23.00 | 21.00 | 32.00 | 30.00 | 26.00 | 36.00 | 36.00 | 36.00 | 36.00 |
| Net Profit | 19.00 | 110.00 | 96.00 | 128.00 | 134.00 | 83.00 | 21.00 | 11.00 | 25.00 |
| EPS in Rs | 0.52 | 3.04 | 2.66 | 3.55 | 4.25 | 2.62 | 0.66 | 0.34 | 0.77 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Sales | 4,803.00 | 3,415.00 | 2,441.00 | 2,006.00 | 1,700.00 | 1,577.00 | 1,520.00 |
| Expenses | 3,887.00 | 2,925.00 | 2,049.00 | 1,824.00 | 1,647.00 | 1,402.00 | 1,403.00 |
| Operating Profit | 916.00 | 491.00 | 392.00 | 183.00 | 53.00 | 174.00 | 117.00 |
| OPM % | 19.00 | 14.00 | 16.00 | 9.00 | 3.10 | 11.00 | 8.00 |
| Other Income | 52.00 | 36.00 | 4.00 | 19.00 | 13.00 | 18.00 | 25.00 |
| Interest | 160.00 | 155.00 | 157.00 | 123.00 | 103.00 | 99.00 | 95.00 |
| Depreciation | 162.00 | 156.00 | 138.00 | 64.00 | 48.00 | 39.00 | 37.00 |
| Profit before tax | 646.00 | 216.00 | 100.00 | 15.00 | -85.00 | 54.00 | 10.00 |
| Tax % | 27.00 | 36.00 | 33.00 | 13.00 | -29.00 | 31.00 | 37.00 |
| Net Profit | 469.00 | 139.00 | 67.00 | 13.00 | -60.00 | 37.00 | 6.00 |
| EPS in Rs | 12.95 | 4.39 | 2.58 | 0.49 | -2.32 | 15.78 | 2.16 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 362.00 | 317.00 | 259.00 | 259.00 | 259.00 | 24.00 | 28.00 |
| Reserves | 2,811.00 | 941.00 | 202.00 | 129.00 | 108.00 | 401.00 | 350.00 |
| Borrowings | 617.00 | 272.00 | 854.00 | 788.00 | 703.00 | 672.00 | 494.00 |
| Other Liabilities | 1,846.00 | 1,320.00 | 1,283.00 | 1,270.00 | 1,153.00 | 697.00 | 706.00 |
| Total Liabilities | 5,636.00 | 2,849.00 | 2,598.00 | 2,446.00 | 2,223.00 | 1,793.00 | 1,578.00 |
| Fixed Assets | 1,079.00 | 534.00 | 493.00 | 627.00 | 542.00 | 381.00 | 356.00 |
| CWIP | 19.00 | 14.00 | 13.00 | 8.00 | 4.00 | 67.00 | 11.00 |
| Investments | 742.00 | 119.00 | 44.00 | 35.00 | 31.00 | 28.00 | 28.00 |
| Other Assets | 3,795.00 | 2,183.00 | 2,049.00 | 1,776.00 | 1,646.00 | 1,318.00 | 1,183.00 |
| Total Assets | 5,636.00 | 2,849.00 | 2,598.00 | 2,446.00 | 2,223.00 | 1,793.00 | 1,578.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 667.00 | 290.00 | 170.00 | 173.00 | 207.00 | 19.00 | 231.00 |
| Cash from Investing Activity | -1,808.00 | -175.00 | -82.00 | -89.00 | -157.00 | -51.00 | -38.00 |
| Cash from Financing Activity | 1,120.00 | -92.00 | -81.00 | -100.00 | -36.00 | 5.00 | -174.00 |
| Net Cash Flow | -21.00 | 22.00 | 7.00 | -16.00 | 14.00 | -26.00 | 19.00 |
| Free Cash Flow | 384.00 | 184.00 | 102.00 | 75.00 | 66.00 | -41.00 | 187.00 |
| CFO/OP % | 89.00 | 64.00 | 46.00 | 96.00 | 406.00 | 6.00 | 202.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 92.00 | 131.00 | 177.00 | 174.00 | 193.00 | 168.00 | 124.00 |
| Inventory Days | 89.00 | 61.00 | 87.00 | 79.00 | 69.00 | 58.00 | 69.00 |
| Days Payable | 168.00 | 118.00 | 144.00 | 103.00 | 197.00 | 149.00 | 150.00 |
| Cash Conversion Cycle | 13.00 | 75.00 | 120.00 | 150.00 | 65.00 | 78.00 | 43.00 |
| Working Capital Days | 37.00 | 44.00 | 68.00 | 68.00 | 1.00 | 32.00 | 26.00 |
| ROCE % | 31.00 | 26.00 | 22.00 | 12.00 | 2.00 | 16.00 | — |
Corporate Actions
No corporate actions recorded.
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update12 Aug from fitch
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Rating update30 Jun from fitch
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Rating update25 Sep 2025 from smera
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Rating update6 Dec 2024 from fitch
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Rating update14 Oct 2024 from fitch
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Rating update2 Aug 2024 from smera