Price
Financials
Consolidated, Rs crore| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 631 | 573 | 1,026 | 1,194 | 1,134 | 1,110 | 1,106 | 1,453 | 1,563 |
| Expenses | 519 | 501 | 941 | 970 | 891 | 875 | 901 | 1,218 | 1,437 |
| Operating Profit | 111 | 72 | 85 | 224 | 242 | 235 | 205 | 234 | 126 |
| OPM % | 18% | 13% | 8% | 19% | 21% | 21% | 19% | 16% | 8% |
| Other Income | 6 | 11 | 12 | 8 | 4 | 16 | 15 | 18 | 13 |
| Interest | 45 | 34 | 28 | 48 | 32 | 32 | 40 | 57 | 49 |
| Depreciation | 37 | 37 | 39 | 42 | 34 | 35 | 37 | 57 | 64 |
| Profit before tax | 36 | 11 | 30 | 141 | 181 | 184 | 143 | 139 | 25 |
| Tax % | 36% | 36% | 36% | 36% | 26% | 30% | 31% | 21% | 22% |
| Net Profit | 23 | 7 | 19 | 91 | 133 | 128 | 98 | 110 | 20 |
| EPS in Rs | 0.72 | 0.23 | 0.60 | 2.86 | 4.21 | 3.55 | 2.71 | 3.05 | 0.55 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,640 | 1,610 | 1,730 | 2,073 | 2,511 | 3,415 | 4,803 | 5,232 |
| Expenses | 1,500 | 1,433 | 1,672 | 1,886 | 2,112 | 2,925 | 3,887 | 4,431 |
| Operating Profit | 140 | 177 | 59 | 187 | 399 | 491 | 916 | 800 |
| OPM % | 9% | 11% | 3.4% | 9% | 16% | 14% | 19% | 15% |
| Other Income | 22 | 17 | 13 | 18 | 1 | 36 | 52 | 61 |
| Interest | 95 | 99 | 103 | 122 | 155 | 155 | 160 | 178 |
| Depreciation | 37 | 39 | 48 | 64 | 138 | 156 | 162 | 193 |
| Profit before tax | 30 | 56 | -79 | 19 | 107 | 216 | 646 | 492 |
| Tax % | 26% | 32% | -21% | 23% | 26% | 36% | 27% | |
| Net Profit | 22 | 38 | -63 | 14 | 80 | 139 | 469 | 357 |
| EPS in Rs | 8.06 | 16.23 | -2.43 | 0.56 | 3.08 | 4.39 | 12.95 | 9.86 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 24% | 32% | 33% | ||
| Compounded Profit Growth | % | 65% | 214% | 44% | ||
| Stock Price CAGR | % | % | % | -50% | ||
| Return on Equity | % | 16% | 20% | 21% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 24 | 259 | 259 | 259 | 317 | 362 |
| Reserves | 334 | 391 | 92 | 106 | 187 | 941 | 2,811 |
| Borrowings | 494 | 672 | 703 | 792 | 854 | 272 | 617 |
| Other Liabilities | 720 | 712 | 1,183 | 1,319 | 1,286 | 1,320 | 1,846 |
| Total Liabilities | 1,576 | 1,798 | 2,237 | 2,476 | 2,585 | 2,849 | 5,636 |
| Fixed Assets | 357 | 381 | 547 | 644 | 505 | 534 | 1,079 |
| CWIP | 11 | 67 | 4 | 18 | 28 | 14 | 19 |
| Investments | 0 | 0 | 0 | 0 | 0 | 119 | 742 |
| Other Assets | 1,209 | 1,350 | 1,687 | 1,814 | 2,052 | 2,183 | 3,795 |
| Total Assets | 1,576 | 1,798 | 2,237 | 2,476 | 2,585 | 2,849 | 5,636 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 227 | 13 | 201 | 195 | 152 | 290 | 667 |
| Cash from Investing Activity | -36 | -40 | -155 | -110 | -64 | -175 | -1,808 |
| Cash from Financing Activity | -174 | 4 | -36 | -102 | -81 | -92 | 1,120 |
| Net Cash Flow | 16 | -23 | 10 | -17 | 7 | 22 | -21 |
| Free Cash Flow | 182 | -40 | 56 | 82 | 81 | 184 | 384 |
| CFO/OP | 165% | 4% | 358% | 106% | 41% | 64% | 89% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 118 | 167 | 194 | 169 | 172 | 131 | 92 |
| Inventory Days | 66 | 58 | 70 | 84 | 86 | 61 | 89 |
| Days Payable | 144 | 149 | 198 | 101 | 141 | 118 | 168 |
| Cash Conversion Cycle | 41 | 75 | 66 | 152 | 117 | 75 | 13 |
| Working Capital Days | 8 | 26 | 0 | 62 | 64 | 44 | 37 |
| ROCE % | 16% | 2% | 13% | 22% | 26% | 31% |
| Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|
| Promoters | 63.12% | 63.01% | 63.01% | 63.01% |
| FIIs | 2.08% | 1.82% | 2.94% | 3.37% |
| DIIs | 6.20% | 4.71% | 4.80% | 4.04% |
| Public | 28.59% | 30.45% | 29.25% | 29.60% |
| No. of Shareholders | 3,06,426 | 2,87,437 | 2,85,301 | 3,03,976 |
Fundamentals
Market Cap₹ 5,801 Cr.
Current Price₹ 160
Stock P/E16.1
Book Value₹ 87.6
ROCE30.6 %
ROE21.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)33%
Compounded Profit Growth (TTM)44%
Consolidated figures.
Valuation
Market capRs 3,995 Cr
Enterprise valueRs 4,683 Cr
P/E (TTM)8.49x
Price to book10.94x
Price to sales0.83x
EV / EBITDA4.83x
EV / EBIT5.80x
EV / sales0.98x
Price to cash flow20.44x
Earnings yield11.78%
Profitability
Operating margin (excl. other income)9.03%
Operating margin (incl. other income)9.88%
EBITDA margin20.19%
Pre-tax margin13.47%
Net profit margin9.80%
Net margin, latest quarter7.60%
ROE4.04%
ROCE12.74%
ROA0.61%
ROE, 3-year average-0.85%
ROCE, 3-year average10.32%
ROA, 3-year average-0.08%
ROIC (approx.)58.83%
Tax rate23.26%
Other income / net worth4.81%
Growth
Sales growth (latest year)19.82%
Sales CAGR, 3 years8.13%
Profit CAGR, 3 years-13.64%
Sales growth QoQ31.36%
Profit growth QoQ12.50%
Sales growth YoY (latest quarter)21.73%
Profit growth YoY (latest quarter)21.86%
Per share
EPS (TTM)Rs 18.17
EPS (latest year)Rs 0.56
EPS (latest quarter)Rs 4.27
EPS, 3-year averageRs 4.79
Book value per shareRs 14.11
Sales per shareRs 185.54
Cash flow per shareRs 7.55
Free cash flow per shareRs 14.84
Efficiency
Asset turnover0.84x
Fixed asset turnover3.22x
Inventory turnover4.53x
Inventory days80 days
Debtor days169 days
Debtors turnover2.16x
Creditor days168 days
Cash conversion cycle13 days
Working capital days37 days
Leverage
Total debtRs 792 Cr
Cash and bankRs 104 Cr
Net debtRs 688 Cr
Debt to equity2.17x
Net debt / EBITDA0.71x
Interest coverage5.03x
Current ratio (filing 2026-03-31)1.88x
Quick ratio (filing 2026-03-31)1.47x
Trade payables (filing 2026-03-31)Rs 1,564 Cr
Owners' fund to total sources14.75%
Debt to assets31.99%
Cash flow
Cash from Operating Activity (latest year)Rs 195 Cr
Cash from Investing Activity (latest year)Rs -110 Cr
Cash from Financing Activity (latest year)Rs -102 Cr
Net Cash Flow (latest year)Rs -17 Cr
Free cash flow (latest year)Rs 384 Cr
FCFE (approx.: FCF + change in debt)Rs 473 Cr
Cash from ops / profit, 5 years2.36x
Sales to cash flow10.61x
Statement figures
Net sales (TTM)Rs 4,802 Cr
Net sales (latest year)Rs 2,073 Cr
Sales (latest quarter)Rs 1,453 Cr
Operating profit excl. other income (latest year)Rs 187 Cr
Operating profit (latest quarter)Rs 234 Cr
Other income (TTM)Rs 53 Cr
EBITDA (TTM)Rs 970 Cr
PBDT (TTM)Rs 809 Cr
Profit before tax (TTM)Rs 647 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 470 Cr
Net profit (latest year)Rs 14 Cr
Net profit (latest quarter)Rs 110 Cr
Depreciation (TTM)Rs 162 Cr
Depreciation (latest quarter)Rs 57 Cr
Interest (TTM)Rs 161 Cr
Cost of goods sold (latest year)Rs 1,693 Cr
Total expenditure (latest year)Rs 1,886 Cr
Total income (latest year)Rs 2,091 Cr
Share capitalRs 259 Cr
ReservesRs 106 Cr
Shareholders' fundsRs 365 Cr
Total assetsRs 2,476 Cr
Net blockRs 644 Cr
Capital work in progressRs 18 Cr
ReceivablesRs 959 Cr
InventoryRs 373 Cr
Other liabilitiesRs 1,319 Cr
Shares outstanding (crore)25.88
Ownership
Promoter holding63.01%
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | VIKRAMSOLR | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.8% | -2.8% | -1.0 pts |
| 1 month | -9.0% | -6.8% | -2.2 pts |
| 3 months | -18.3% | -7.6% | -10.7 pts |
| 6 months | -13.1% | +0.4% | -13.5 pts |
| 1 year | -53.8% | -9.9% | -43.9 pts |
14 mutual fund schemes hold about ₹207 Cr.
Over three months 10 bought more and 4 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Bandhan Small Cap Fund | 0.46% | 157 | +27% |
| Franklin India Small Cap Fund | 0.23% | 34 | +12% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.23% | 6 | +7% |
| Taurus Ethical Fund | 0.80% | 4 | -43% |
| Kotak Equity Savings Fund(M | 0.03% | 3 | -88% |
| Kotak Energy Opportunities Fund | 1.11% | 3 | +14% |
| Motilal Oswal BSE Clean Environment Index Fund | 0.64% | 0 | +25% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | +12% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | +12% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | +12% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | +12% |
| Kotak Multi Asset Allocation Fund | 0.00% | 0 | -100% |
| Edelweiss Recently Listed IPO Fund | 0.00% | 0 | -100% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | +12% |
Red flags
F-score 7 of 8| explain | Share dilution Share count up 0% in a year, 828% in three |
| explain | Low interest cover Interest cover 1.2x in 2026 |
| look | Profit leans on other income Other income was 93% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,563 Cr +37.8% vs Jun 2025.
Net profit ₹20 Cr -85.0%.
Activity
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| Genus Power Infrastructures Ltd | 8,934 | 13.7 | 25.3 % |
| Waaree Renewable Technologies Ltd | 8,574 | 16.8 | 85.0 % |
| Ram Ratna Wires Ltd | 5,450 | 42.1 | 23.6 % |
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| Shilchar Technologies Ltd | 4,613 | 33.5 | 50.7 % |
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Vikram Solar Ltd?
Vikram Solar Ltd (VIKRAMSOLR) has a market capitalisation of Rs 5,801 Cr. at the 2026-10-01 close.
What is the P/E ratio of Vikram Solar Ltd?
Vikram Solar Ltd trades at a P/E of 16.1 on trailing twelve-month profit, at the 2026-10-01 close.
What were Vikram Solar Ltd's latest quarterly results?
In the Jun 2026 quarter, Vikram Solar Ltd sales was Rs 1,563 Cr (+37.8% vs Jun 2025) and net profit was Rs 20 Cr.
What is the 52-week high and low of Vikram Solar Ltd?
The 52-week high is Rs 354.40 and the 52-week low is Rs 155.38.