Vikram Solar share price, P/E, ROE & financials

As of 6 Nov 2026, Vikram Solar trades at 14.1× trailing earnings, below the industry P/E of 15.5×, and the shares are 56% below their 52-week high. It earns ROCE of 20% and ROE of 21%, and sales grew 32% a year over 3 years. Debt is 0.20× equity. It is a small-cap company with a market cap of ₹5,160 Cr, ranked 7th of 27 Solar companies by market cap; the shares fell 57% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year

Open: ₹139.19
Day high: ₹146.00
Day low: ₹135.38
Prev. close: ₹139.67
Volume: 20.6 L

Health check

1 good · 3 fair · 2 to check

ReturnsBehind
−56.6% over a year, better than 0 of 7 peers.
Price tagIn line
P/E 14.1 vs industry 15.5.
GrowthSteady
Sales +32.3%, profit +218.9% a year over 3 years.
ProfitabilityAverage
ROCE 20.5% vs peer median 28.9%.
Balance sheetSolid
Debt 0.20× equity, interest covered 6.3×, Piotroski 6 of 9.
Red flags2 to check
Quarterly profit down 85.2% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Solar

26 listed peers. Screen the industry

Small cap

₹5,160 Cr, #7 of 27 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹5,232 Cr · profit ₹357 Cr

Market cap: ₹5,160 Cr; Small cap
P/E: 14.1; Industry 15.5
Price to book: 1.63; Peers 4.38
Dividend yield: 0.00%
ROE: 21.3%; Peers 36.4%
ROCE: 20.5%; Peers 28.9%
Debt to equity: 0.20; Debt ₹645 Cr
EPS (TTM): ₹10.09; Face value ₹10
OPM (TTM): 15.4%; Net margin 6.8%
Sales growth: +37.9%; Latest quarter vs a year ago
Profit growth: −85.2%; Latest quarter vs a year ago
Price to sales: 0.99; EV/EBITDA 7.5

Strengths

Return on equity of 21.3%.
Return on capital employed of 20.5%.
Quarterly sales up 37.9% on a year ago.
Positive operating cash flow in each of the last 4 years.

Risks to check

Quarterly profit down 85.2% on a year ago.
56% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About Vikram Solar

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.

Headquarters: Kolkata
Employees: 2,946
Sector: Technology
ISIN: INE078V01014
Website: vikramsolar.com

Price range

52 weeks

₹124.50₹323.90

Today

₹135.38₹146.00

Avg volume (3M): 33.3 L
1-year return: minus 56.6%
From 52-week high: minus 56.0%

Analyst consensus

5 analysts

HoldMean target ₹187.20 31.5%

Target range, with today’s price

Low ₹127.00High ₹267.00

Consensus from Yahoo Finance. Not a recommendation.

Peers · Solar

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
WAAREEENERWaaree Energies	2,438.00	minus 0.46%	70,129	19.0	12.0	30.1%	19.9%	0.31	57.8%	minus 27.3%
PREMIERENEPremier Energies	890.00	plus 0.85%	40,316	22.5	17.4	27.4%	29.9%	0.86	76.2%	minus 15.3%
EMMVEEEmmvee Photovoltaic Power	251.31	minus 0.28%	17,399	12.1	9.7	34.5%	34.7%	0.25	102.7%	plus 14.5%
KARAMTARAKaramtara Engineering	375.70	minus 0.96%	12,091	52.8	27.7	18.1%	9.0%	0.91	40.4%	plus 6.7%
UTLSOLARFujiyama Power Systems	351.80	minus 9.21%	10,811	35.7	22.5	28.9%	18.8%	0.41	58.7%	plus 68.8%
BORORENEWBOROSIL RENEWABLES	403.20	minus 2.55%	5,934	13.4	12.1	9.5%	30.1%	0.07	20.2%	minus 37.6%
VIKRAMSOLRVikram Solar	142.39	plus 1.95%	5,160	14.1	6.0	20.5%	15.4%	0.20	32.3%	minus 56.6%
SAATVIKGLSaatvik Green Energy	358.60	plus 0.01%	4,558	26.5	8.9	30.8%	9.7%	0.69	95.5%	minus 32.1%
Median of 7 peers	–	−0.46%	12,091	22.5	12.1	28.9%	19.9%	0.41	58.7%	−15.3%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Mar 25	Jun 25	Dec 25	Mar 26	Jun 26
1,194	1,134	1,106	1,453	1,563
–	–	–	+21.7%	+37.9%
970	891	901	1,218	1,437
224	242	205	235	126
18.7%	21.4%	18.5%	16.1%	8.1%
7.5	4.2	20.2	18.2	12.6
48.2	32.3	40.2	56.6	49.4
42.2	33.5	36.5	57.1	64
–	–	−5.6	–	–
141	181	143	139	25.2
35.7%	26.2%	31.3%	20.6%	21.6%
90.6	133	98.1	110	19.8
–	–	–	+21.9%	minus 85.2%
2.51	3.69	2.70	3.03	0.54

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +32.3%
Profit CAGR 3Y: +218.9%
EPS CAGR 3Y: +223.7%
ROE: 21.3%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
2,073	2,511	3,423	4,802
–	+21.1%	+36.3%	+40.3%
1,891	2,098	2,912	3,845
182	413	512	957
8.8%	16.4%	15.0%	19.9%
1.9	−30.3	−19	−20.2
99	126	119	122
63.9	138	156	162
−1.9	−11.7	–	−6
18.9	107	217	647
23.2%	25.7%	35.7%	27.3%
14.5	79.7	140	470
–	+450.1%	+75.4%	+236.4%
0.40	2.20	3.87	13.60

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
259	259	317	362
106	187	925	2,805
792	854	272	645
1,319	1,286	1,318	1,916
2,476	2,585	2,832	5,728
656	544	609	1,717
22.8	45.2	64.7	609
55.1	56.5	51.8	263
1.6	8.9	39.2	35.8
1,741	1,931	2,067	3,104
2,476	2,585	2,832	5,728

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
195	152	281	630
−111	−63.7	−156	−1,748
−102	−81	−95.3	1,115
−17.3	7.3	30.1	−3.7
−131	−71.6	−133	−722
64	80.4	148	−92.5

Shareholding pattern

Source: NSE filings

63.0%

promoters

Promoters63.01%
Public36.99%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	63.01%	36.99%	0.00
30 Jun 2026	63.01%	36.99%	0.00
31 Mar 2026	63.01%	36.99%	0.00
31 Dec 2025	63.01%	36.99%	minus 0.11
30 Sep 2025	63.12%	36.88%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you