Vikram Solar
Vikram Solar Share Price Chart
Vikram Solar last traded at ₹142.09 (2026-10-13). Over the past month the stock moved -13.9%, three months the stock moved -28.9%, year the stock moved -56.0%. Its closing range over 52 weeks is ₹141.60 – ₹348.35, with the latest close 59.2% below the high.
Closing prices up to 2026-10-13.
About Vikram Solar
Incorporated in 2005, Vikram Solar Ltd manufactures solar PV modules and also provides EPC and O&M services.[1]
Business Verticals a) Solar PV Modules:[1] The company offers a portfolio of solar solutions for utility-scale, commercial & industrial (C&I), and residential applications. Its product portfolio includes advanced monocrystalline PV modules incorporating technologies such as bifacial, multi-busbar (MBB), G12 half-cell, heterojunction (HJT), and N-type cell designs, with power outputs ranging from 395 W to 735 W.
Fundamentals
Quarterly Results
In the latest quarter (Jun 2026), Vikram Solar reported sales of ₹1,563.00 crore (+37.8%) and net profit of ₹20.00 crore (-85.0%), compared with the same quarter last year.
| Period | Sales | Operating profit | OPM % | Net profit | EPS (₹) |
|---|---|---|---|---|---|
| Jun 2026 | 1,563 | 126.00 | 8.00 | 20.00 | 0.55 |
| Mar 2026 | 1,453 | 234.00 | 16.00 | 110.00 | 3.05 |
| Dec 2025 | 1,106 | 205.00 | 19.00 | 98.00 | 2.71 |
| Sep 2025 | 1,110 | 235.00 | 21.00 | 128.00 | 3.55 |
| Jun 2025 | 1,134 | 242.00 | 21.00 | 133.00 | 4.21 |
| Mar 2025 | 1,194 | 224.00 | 19.00 | 91.00 | 2.86 |
| Dec 2024 | 1,026 | 85.00 | 8.00 | 19.00 | 0.60 |
| Sep 2024 | 573.00 | 72.00 | 13.00 | 7.00 | 0.23 |
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales growth | +79.7% | +93.7% | +7.8% | +21.7% | +37.8% |
| Operating profit growth | +118.0% | +226.4% | +141.2% | +4.5% | -47.9% |
| Net profit growth | +478.3% | +1728.6% | +415.8% | +20.9% | -85.0% |
| EPS growth | +484.7% | +1443.5% | +351.7% | +6.6% | -86.9% |
| OPM % | 21.0% | 21.0% | 19.0% | 16.0% | 8.0% |
Colour scale: below -5% -5% to 0% 0% to 5% 5% to 20% 20% and above. A dash means the earlier figure was zero or negative, so a percentage is not meaningful.
Annual Financials
In the latest year (Mar 2026), Vikram Solar reported sales of ₹4,802.00 crore (+40.3%) and net profit of ₹470.00 crore (+235.7%), compared with the previous year.
| Period | Sales | Operating profit | OPM % | Net profit | EPS (₹) |
|---|---|---|---|---|---|
| Mar 2026 | 4,802 | 917.00 | 19.00 | 470.00 | 12.98 |
| Mar 2025 | 3,423 | 492.00 | 14.00 | 140.00 | 4.42 |
| Mar 2024 | 2,511 | 399.00 | 16.00 | 80.00 | 3.08 |
| Mar 2023 | 2,073 | 187.00 | 9.00 | 14.00 | 0.56 |
| Mar 2022 | 1,730 | 59.00 | 3.00 | -63.00 | -2.43 |
| Mar 2021 | 1,610 | 177.00 | 11.00 | 38.00 | 16.23 |
| Mar 2020 | 1,640 | 140.00 | 9.00 | 22.00 | 8.06 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales growth | -1.8% | +7.5% | +19.8% | +21.1% | +36.3% | +40.3% |
| Operating profit growth | +26.4% | -66.7% | +216.9% | +113.4% | +23.3% | +86.4% |
| Net profit growth | +72.7% | -265.8% | – | +471.4% | +75.0% | +235.7% |
| EPS growth | +101.4% | -115.0% | – | +450.0% | +43.5% | +193.7% |
| OPM % | 11.0% | 3.0% | 9.0% | 16.0% | 14.0% | 19.0% |
Colour scale: below -5% -5% to 0% 0% to 5% 5% to 20% 20% and above. A dash means the earlier figure was zero or negative, so a percentage is not meaningful.
Shareholding
AI Analysis
Vikram Solar trades at ₹208.2, down 4.74% over 1 month but up 28.4% YoY, positioned 28% above 52W low and 49% below 52W high in a broad consolidation. Fundamentals remain solid with FY2026 net profit at ₹470 Cr (₹12.98 EPS), OPM expanding to 19% and ROCE at 31% (excellent capital efficiency), though quarterly net profit margin has compressed to 7.6% in Mar-26 from 11.7% in Jun-25 signaling margin headwinds. Technical setup is neutral (RSI 55, Tech Score 48, NEUTRAL trend) with low delivery % (23.6%) and weak recent volume, creating a pause before the next directional move.
- Exceptional ROCE of 31% (Mar-26) demonstrating superior capital deployment efficiency and wide competitive moat in solar module manufacturing.
- Strong balance sheet with D/E of 0.20 and OCF of ₹630 Cr (Mar-26), supporting ₹1,748 Cr capex investment with net cash neutral; robust for growth funding.
- Valuation asymmetry: P/E of 16.4x vs sector 34.7x and P/B of 2.54 with ROE 14.8% indicates stock trading at 47% discount to sector despite superior ROCE and margin profile.
- Net profit margin compression from 11.7% (Jun-25) to 7.6% (Mar-26) signals cost inflation, competitive pricing pressure, or product mix shift in solar modules; margin recovery uncertain amid cyclical industry headwinds.
- Extremely low delivery % (23.6%) coupled with low volume (0.34x 20D avg) indicates weak institutional conviction and speculative selling, elevating short-term volatility risk despite sound fundamentals.
AI-generated analysis for informational purposes only — not SEBI-registered investment advice.
See Full AI Analysis — Free FREE →Latest News
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Vikram Solar shares gain nearly 2% on 400 MW module supply order - Moneycontrol.com
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Vikram Solar moves up on securing 400 MW module supply order for Agri-Solar Projects in Maharashtra
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Vikram Solar secures 400MW solar panel supply order for projects in Maharashtra
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Vikram Solar secures 400MW solar panel supply order for projects in Maharashtra
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Vikram Solar secures 400 MW module supply order from renowned EPC customer - Business Standard
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Vikram Solar secures 400 MW module supply order from renowned EPC customer - Business Standard
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Vikram Solar secures 400 MW module supply order for agri-solar projects in Maharashtra - The Economic Times
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Vikram Solar secures 400MW solar panel supply order for projects in Maharashtra
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Vikram Solar inches up on entering into domestic cell supply agreement with Avaada Electro
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Vikram Solar enters into domestic cell supply agreement with Avaada Electro
Frequently Asked Questions
What is Vikram Solar's current stock price?
Vikram Solar shares were last quoted at ₹142.09 (-0.2% on the day). Use the Refresh price button on this page for the latest available price. Prices are for information only.
What is the P/E ratio of Vikram Solar?
Vikram Solar has a price-to-earnings (P/E) ratio of 16.28 and a price-to-book (P/B) ratio of 1.83. The industry P/E is 29.42.
What is the 52-week high and low of Vikram Solar?
The 52-week high of Vikram Solar is ₹354.80 and the 52-week low is ₹155.75.
What is the market cap of Vikram Solar?
The market capitalisation of Vikram Solar is about ₹5,810.35 crore.
How did Vikram Solar perform in its latest quarterly results?
In the latest quarter (Jun 2026), Vikram Solar reported sales of ₹1,563.00 crore (+37.8%) and net profit of ₹20.00 crore (-85.0%), compared with the same quarter last year.
Is Vikram Solar a good stock to buy?
This page is for information and is not investment advice. As per the data shown here, Vikram Solar has a 3-year ROE of 20.00%, 3-year profit growth of 214.00%. Review the fundamentals, quarterly results and AI analysis on StockSpin, and consult a SEBI-registered adviser before investing.
What is the promoter holding in Vikram Solar?
Promoters hold about 63.01% of Vikram Solar.
Which sector does Vikram Solar belong to?
Vikram Solar belongs to the Electric Equipment sector.