Vikram Solar Ltd

Vikram Solar Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Vikram Solar Ltd

₹ 322 -2.92%
04 Sep - close price
vikramsolar.com BSE: 544488 NSE: VIKRAMSOLR
About

Incorporated in 2005, Vikram Solar Ltd manufactures solar PV modules and also provides EPC and O&M services.[1]

Key Points

Business Overview:[1]
VSL is one of India’s largest pure-play solar
photovoltaic module manufacturers in terms
of operational capacity. The company also offers EPC & O&M services.

Website BSE NSE
  • Market Cap ₹ 11,658 Cr.
  • Current Price ₹ 322
  • High / Low ₹ 382 / 320
  • Stock P/E 156
  • Book Value ₹
  • Dividend Yield 0.00 %
  • ROCE 21.6 %
  • ROE 17.6 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -14.5%
  • Company has a low return on equity of 2.34% over last 3 years.
  • Company has high debtors of 177 days.
  • Company's cost of borrowing seems high
  • Working capital days have increased from 45.8 days to 67.9 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Part of BSE IPO

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Operating Profit
OPM %
Interest
Depreciation
Profit before tax
Tax %
EPS in Rs
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,520 1,577 1,700 2,006 2,441
1,403 1,402 1,647 1,824 2,049
Operating Profit 117 174 53 183 392
OPM % 8% 11% 3% 9% 16%
25 18 13 19 4
Interest 95 99 103 123 157
Depreciation 37 39 48 64 138
Profit before tax 10 54 -85 15 100
Tax % 37% 31% -29% 13% 33%
6 37 -60 13 67
EPS in Rs 2.16 15.78 -2.32 0.49 2.58
Dividend Payout % 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 16%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 26%
TTM: 450%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: 2%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 28 24 259 259 259
Reserves 350 401 108 129 202
494 672 703 788 854
706 697 1,153 1,270 1,283
Total Liabilities 1,578 1,793 2,223 2,446 2,598
356 381 542 627 493
CWIP 11 67 4 8 13
Investments 28 28 31 35 44
1,183 1,318 1,646 1,776 2,049
Total Assets 1,578 1,793 2,223 2,446 2,598

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
231 19 207 173 170
-38 -51 -157 -89 -82
-174 5 -36 -100 -81
Net Cash Flow 19 -26 14 -16 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 124 168 193 174 177
Inventory Days 69 58 69 79 87
Days Payable 150 149 197 103 144
Cash Conversion Cycle 43 78 65 150 120
Working Capital Days 26 32 1 68 68
ROCE % 16% 2% 12% 22%

Shareholding Pattern

Numbers in percentages

3 Recently
Aug 2025
63.12%
3.04%
6.40%
27.45%
No. of Shareholders 5,17,746

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Credit ratings