Vikram Solar Limited share price
NSE: VIKRAMSOLR · ISIN INE078V01014
Key numbers
- Market cap
- ₹ 5,809 Cr
- Current price
- ₹ 160.31
- 52-week high / low
- ₹ 354 / 155
- Stock P/E
- 15.3
- Book value
- ₹ 87.4
- Dividend yield
- 0.00%
- ROCE
- 28.9%
- ROE
- 21.3%
- Debt to equity
- 0.20
- Sales growth (3 yrs)
- 32.3%
- Profit growth (3 yrs)
- 219.0%
- 1-year return
- -51.0%
About Vikram Solar Limited
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.
Quarterly results
Consolidated figures in ₹ crores
| Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales | 1,194 | 1,134 | 1,106 | 1,453 | 1,563 |
| Operating profit | 224 | 242 | 205 | 235 | 126 |
| Net profit | 91 | 133 | 98 | 110 | 20 |
| EPS (₹) | 2.51 | 3.69 | 2.71 | 3.05 | 0.55 |
Concall summary (2026-08-13)
AI summary of the earnings call transcript · tone: Positive · source document
Guidance & outlook
- We expect a roughly INR0.50 per watt pe ak higher price realization from this customer base.
- The first cell remains targeted for Q4 FY27, taking us to roughly 70% into backward integration.
Growth & demand
- This quarter, we clocked our highest ever quarterly volume of 1,006 megawatts, up 32% on the same quarter last year.
- The large accounts non -DCR order book that includes utilities, IPPs, large C&I customers still constitute a large share of our order book.
Margins & costs
- EBITDA for the quarter was at INR126 crores at a margin of 8.06%, and PAT was at INR19.78 crores.
- As the mix tilts more towards the high - margin layers and towards DCR product, the blended realization rises, and that is what came through the INR15.02 per watt peak realization.
Capex & expansion
- We dispatched 1.06 gigawatts broadly flat in line with Q4 and up nearly 32% on the same quarter last year, which is the scale our expanded capacity is now delivering.
- On the build itself, we deployed approximately INR500 crores of capex this quarter, 80% towards the module facility and the balance towards the cell plant, with both programs on their committed timelines.
Balance sheet & cash
- We continue to carry no long-term debt even today.
- Working capital utilization came down over the quarter, and the net debt to equity is almost negligible.
Peers in Solar
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