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Vikram Solar Ltd.

ElectricalsElectronics - Components

www.vikramsolar.com BSE: 544488NSE: VIKRAMSOLR

₹162.80BSE1.51%

16 Sep, 4:01 PM

₹162.80

₹5.93K Cr

16.61

1.87

21.45%

₹166.15

₹160.90

₹365.75

₹155.75

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Price Performance

Peer Comparison

Name
SYRMA SYRMA	1,513.45	79.13	29,183.93	0.10	105.69	111.72%	1,588.62	68.29%	17.70
KAYNES KAYNES	3,386.85	65.67	22,703.63	0.00	56.43	-24.37%	946.02	40.47%	13.38
AVALON AVALON	2,250.00	110.56	15,048.52	0.00	34.87	145.31%	484.41	49.83%	20.34
UTLSOLAR UTLSOLAR	403.00		12,368.14	0.00	57.79	-14.49%	1,345.69	125.28%
CYIENTDLM CYIENTDLM	868.10	83.93	6,891.27	0.00	16.29	118.21%	373.80	34.25%	10.41
Vikram Solar Ltd. VIKRAMSOLR	162.80	16.61	5,926.31	0.00	19.78	-85.17%	1,563.09	37.89%	34.07
SAATVIKGL SAATVIKGL	411.50	21.16	5,230.37	0.00	5.36	-95.40%	511.01	-44.20%	55.18
WEBELSOLAR WEBELSOLAR	72.20	10.36	3,134.66	0.35	77.79	15.79%	372.60	70.33%	63.74

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	630.94	572.94	1,026.05	1,193.52	1,133.58	1,109.91	1,105.95	1,452.82	1,563.09
Expenses	519.49	500.82	941.33	969.80	891.39	874.88	901.05	1,218.30	1,437.09
	111.45	72.12	84.71	223.73	242.19	235.02	204.90	234.51	126.01
	17.66%	12.59%	8.26%	18.74%	21.36%	21.17%	18.53%	16.14%	8.06%
	6.22	10.52	11.79	7.54	4.20	15.90	14.61	18.20	12.62
Interest	44.87	33.88	27.81	48.16	32.26	31.58	40.17	56.55	49.40
	37.30	37.33	39.13	42.24	33.50	34.88	36.52	57.11	64.01
	35.50	11.44	29.57	140.86	180.62	184.45	142.83	139.05	25.22
	35.67%	35.67%	35.67%	35.67%	26.16%	30.34%	31.29%	20.59%	21.58%
	22.84	7.36	19.02	90.61	133.36	128.49	98.15	110.42	19.78
	0.72	0.23	0.60	2.86	4.21	3.55	2.71	3.05	0.55

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	1,730.31	2,073.23	2,510.99	3,423.45	4,802.25
	1,730.31	2,073.23	2,510.99	3,423.45	4,802.25
EXPENDITURE :
Increase/Decrease in Stock	-11.32	-100.68	2.90	-35.21	-68.56
Raw Material Consumed	1,395.48	1,717.35	1,676.02	2,589.81	3,402.77
Power & Fuel Cost	8.03	11.92	19.57	23.85	39.97
Employee Cost	109.13	91.21	96.29	124.36	161.94
Other Manufacturing Expenses	29.40	19.43	30.13	34.72	73.43
General and Administration Expenses	43.49	63.28	58.31	63.54	84.89
Selling and Distribution Expenses	67.57	48.95	129.60	80.61	124.45
Miscellaneous Expenses	29.86	35.60	99.60	49.77	66.74
	1,671.63	1,887.05	2,112.41	2,931.44	3,885.63
Operating Profit (Excl OI)	58.68	186.18	398.58	492.01	916.62
	12.74	18.68	12.97	36.07	58.53
	71.42	204.86	411.55	528.09	975.15
Interest	102.87	122.05	154.62	154.72	160.56
PBDT	-31.46	82.81	256.94	373.37	814.59
	47.98	63.94	138.01	156.00	162.01
Profit Before Taxation & Exceptional Items	-79.44	18.87	118.93	217.36	652.58
Exceptional Income / Expenses			-11.64		-5.62
	-79.44	18.87	107.28	217.36	646.96
Provision for Tax	-16.50	4.38	27.56	77.53	176.54
	-62.94	14.49	79.72	139.83	470.42
Extra items				0.00	0.00
Consolidated Net Profit	-62.94	14.49	79.72	139.83	470.42
Profit Balance B/F	334.38	98.31	113.07	192.16	331.62
Appropriations	271.44	112.80	192.79	331.99	802.04
	-2.43	0.56	3.08	4.42	12.98
Adjusted EPS	-2.43	0.56	3.08	4.42	12.98

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	258.83	258.83	258.83	316.54	362.33
Share Warrants & Outstandings				6.05	17.64
Total Reserves	92.46	106.37	186.59	919.41	2,787.79
Reserve excluding Revaluation Reserve	92.46	106.37	186.59	919.41	2,787.79
Revaluation reserve	0.00	0.00	0.00	0.00
	351.29	365.20	445.42	1,241.99	3,167.76
Secured Loans	179.06	129.12	113.34	77.40
Unsecured Loans	84.87	85.11	85.34
Deferred Tax Assets / Liabilities	-0.20	-0.04	7.53	46.57	90.08
Other Long Term Liabilities	127.02	592.86	492.98	42.07	458.67
Long Term Trade Payables	4.34
Long Term Provisions	8.32	7.80	18.56	26.63	33.66
Total Non-Current Liabilities	403.41	814.85	717.75	192.67	582.42
Trade Payables	750.20	445.87	647.24	828.28	1,563.69
Other Current Liabilities	351.70	373.99	203.51	438.27	312.48
Short Term Borrowings	378.17	473.68	567.53	117.24	100.07
Short Term Provisions	2.27	2.66	4.02	13.64	1.31
Total Current Liabilities	1,482.34	1,296.20	1,422.29	1,397.43	1,977.55
Total Liabilities	2,237.04	2,476.25	2,585.45	2,832.08	5,727.72
Gross Block	747.50	902.42	898.68	1,103.76	1,840.99
Less: Accumulated Depreciation	200.89	258.00	393.24	549.31	714.12
Net Block	546.60	644.42	505.44	554.45	1,126.86
Capital Work in Progress	2.94	17.04	27.81	62.62	418.08
Long Term Investment	0.00	0.00	0.00	0.00
Long Term Loans & Advances	9.71	8.95	24.59	11.90	266.60
Other Non Current Assets	57.90	52.17	49.35	190.82	189.05
Total Non-Current Assets	617.79	723.31	607.19	819.79	2,000.59
Inventories	264.97	373.25	393.34	428.63	823.13
Sundry Debtors	917.47	958.96	1,185.33	1,228.59	1,214.35
Cash and Bank	135.96	104.20	115.73	188.97	1,256.81
Other Current Assets	194.92	209.98	194.19	44.67	128.64
Short Term Loans and Advances	105.94	106.55	89.68	121.43	304.19
Total Current Assets	1,619.25	1,752.94	1,978.27	2,012.29	3,727.13
Net Current Assets (Including Current Investments)	136.91	456.73	555.98	614.86	1,749.59
Total Assets	2,237.04	2,476.25	2,585.45	2,832.08	5,727.72
Contingent Liabilities	47.53	46.29	52.65	257.77	61.58
Total Debt	703.11	737.79	808.33	230.67	100.07
	13.57	14.11	17.21	39.05	86.94
Adjusted Book Value	13.57	14.11	17.21	39.05	86.94

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	-79.44	18.87	107.28	217.36	646.96
Adjustment	151.32	177.65	365.39	321.95	311.58
Changes In working Capital	138.23	1.11	-309.68	-229.79	-176.02
Cash Flow after changes in Working Capital	210.12	197.64	162.99	309.52	782.52
Cash Flow from Operating Activities	201.35	195.43	152.02	281.16	629.55
Cash Flow from Investing Activities	-154.89	-110.51	-63.69	-155.71	-1,748.03
Cash Flow from Financing Activitie	-36.22	-102.22	-81.03	-95.33	1,114.83
Net Cash Inflow / Outflow	10.24	-17.30	7.31	30.12	-3.65
Opening Cash & Cash Equivalents	8.59	18.87	1.63	8.95	39.16
Effect of Foreign Exchange Fluctuations	0.04	0.06	0.01	0.09	0.27
Closing Cash & Cash Equivalent	18.87	1.63	8.95	39.16	35.77

Ratios

Valuation

16.61

1.87

5.50

1.13

9.85

87.48

Profitability

21.45

34.07

10.99

19.09

9.80

Leverage & Liquidity

0.03

1.88

5.03

Returns

0.00

1.12

Shareholding Pattern

Numbers in percentages

Particulars	Aug '25	Sep '25	Dec '25	Mar '26	Jun '26
	63.12	63.12	63.01	63.01	63.01
	8.93	7.64	6.51	7.68	7.30
	27.95	29.24	30.48	29.30	29.69
	36.88	36.88	36.99	36.99	36.99
No. of Shareholders	5,17,746	3,06,426	2,87,437	2,85,301	3,03,976

Corporate Actions

Showing: All

Date	Type	Details
2026-08-03	Board Meeting	Quarterly Results
2026-07-06	AGM
2026-05-04	Board Meeting	Quarterly Results & Audited Results

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

ElectricalsElectronics - Components

Vikram Solar Ltd. operates in the Electricals sector under the Electronics - Components industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

10 members across the board and senior leadership

Sudipta Bhowal

Company Secretary & Compliance Officer

—

Gyanesh Chaudhary

Chairman & Managing Director

₹90.53 L

Mar '26

Subramanya Krishnappa

Non Executive Independent Director

₹17.10 L

Mar '26

Neha Agrawal

Whole Time Director & Head-Corporate Strategy

₹79.00 L

Mar '25

Ratnabali Kakkar

Non Executive Independent Director

₹12.40 L

Mar '26

Sumit Binani

Non Executive Independent Director

₹14.30 L

Mar '26

Joginder Pal Dua

Non Executive Independent Director

₹7.00 L

Mar '26

Sameer Nagpal

Whole Time Director & Chief Executive Officer

—

Krishna Kumar Maskara

Whole Time Director

₹19.68 L

Mar '26

Suresh Gopinathan Menon

Non Independent & Non Executive Director

₹6.30 L

Mar '26

VIKRAMSOLR Latest News

News

10 of 10 articles

EQUITY16 Sept 2026 · 09:25

Vikram Solar inches up on entering into domestic cell supply agreement with Avaada Electro

Avaada Electro will supply 1 GW of ALMM-compliant domestically manufactured half-cut N-Type G12R TOPCon solar cells for Vikram Solar’s module manufacturing operations

COMPANY16 Sept 2026 · 09:01

Vikram Solar enters into domestic cell supply agreement with Avaada Electro

Avaada Electro will supply 1 GW of ALMM-compliant domestically manufactured half-cut N-Type G12R TOPCon solar cells for Vikram Solar’s module manufacturing operations

EQUITY11 Sept 2026 · 17:17

Vikram Solar informs about press release

COMPANY11 Sept 2026 · 15:58

Vikram Solar secures 124 MW module supply order from Capital Energy

Module supplies are scheduled to commence in October 2026

EQUITY7 Aug 2026 · 09:38

Vikram Solar informs about investor presentation

EQUITY10 Jul 2026 · 10:35

Vikram Solar climbs on inking solar cell supply pact with Evervolt Solar Technology India

The agreement aims to procure Mono-PERC 10BB DCR-compliant crystalline solar cells aggregating to 130 MW over the supply period July 2026 to March 2027

COMPANY10 Jul 2026 · 10:30

Vikram Solar inks solar cell supply pact with Evervolt Solar Technology India

The agreement aims to procure Mono-PERC 10BB DCR-compliant crystalline solar cells aggregating to 130 MW over the supply period July 2026 to March 2027

COMPANY6 Jul 2026 · 12:00

Vikram Solar commissions new manufacturing plant in Tamil Nadu

The investment supports regional industrial development while expanding India's clean energy manufacturing base

EQUITY6 Jul 2026 · 11:43

Vikram Solar informs about press release

EQUITY7 May 2026 · 22:52

Vikram Solar reports Profit after tax of Rs 964.35 Mln, in the December 2025 quarter

VIKRAMSOLR

₹162.80

-1.51%