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Vikram Solar share price & results

Vikram Solar Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Manufactures solar PV modules in India, expanding into cells, wafer/ingot and battery storage (BESS).

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,536 ₹ crore+35.3% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin8.0 %−13.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit19.0 ₹ crore−85.8% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity16.25 %+5.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin8.00 %+2.6 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)33.23 %+4.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

3 of 7 judged targets kept · 16 open · verdicts reflect calls analysed to Q1 FY27.

Vikram Solar Limited management guidance track record on Inve: 23 targets tracked across analysed earnings calls (3 achieved, 4 missed, 16 open).

TargetOriginal wordingSaidLatest callVerdict
Capacity Commissioning5 GW commissioned by December 2025 (Q3 FY26)
Call transcript, Q2 FY26 · 17 Oct 2025		Q2 FY26Q1 FY27:This promise was achieved in Q3 FY26 and is now considered historical.
Call transcript, Q1 FY27 · 7 Aug 2026		Achieved
Capex Spend~ INR 800 crores by end of FY26
Call transcript, Q2 FY26 · 17 Oct 2025		Q2 FY26Q1 FY27:The final capex spend for FY26 was not mentioned again, confirming the 'ghosted' status.
Call transcript, Q1 FY27 · 7 Aug 2026		Ghosted
BESS Capacity Commissioning5 GWh battery pack commissioned in fiscal '27
Call transcript, Q3 FY26 · 28 Jan 2026		Q3 FY26Q1 FY27:The plan has been revised up to a 7.5 GWh BESS assembly plant, which remains on track for commercial operations by March 2027.
Call transcript, Q1 FY27 · 7 Aug 2026		Revised Up

Source: Inve Guidance Tracker for Vikram Solar Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Vikram Solar Limited's 23 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 20 more targets are in the full ledger.

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Price

₹130.47 +1.63% · +₹2.09

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −61.2% 1Y

₹150₹200₹250₹300₹350Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 24 Oct 2025Q3 FY26 — 28 Jan 2026Q4 FY26 — 8 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹336.5 on 24 Oct 2025 → ₹130.47. High ₹336.5 (24 Oct 2025), low ₹127.98 (23 Oct 2026).

Previous close
₹128.38
Market cap
₹4.7k Cr
52-week range
₹127.98 – ₹330.25
One year
−60.49%
Price to earnings (TTM to Jun 2026)
12.92×
Return on equity (TTM to Jun 2026)
16.25%

Overview

Symbol
NSE:VIKRAMSOLR
Industry
Industrials
Exchange
NSE
Currency
INR

What Vikram Solar Limited does

Based on the company's own presentations, annual report and earnings calls.

Vikram Solar manufactures solar photovoltaic (PV) modules — including N-Type Bifacial, Mono-PERC and HJT variants — at three plants in West Bengal and Tamil Nadu, selling to utility-scale IPPs, EPC contractors, commercial & industrial (C&I) customers, government projects and export markets. It also earns from turnkey EPC execution (design, procurement, construction) and long-term operations & maintenance contracts on commissioned solar plants. The company is backward-integrating into solar cell and wafer/ingot manufacturing, and diversifying into battery energy storage systems (BESS) under its VION brand.

Segments

  • Solar PV Module Manufacturing
  • EPC & O&M Services
  • Battery Energy Storage Systems (BESS)
Manufacturing plants
3 (Falta SEZ, West Bengal; Oragadam and Vallam, Tamil Nadu)
Installed solar module manufacturing capacity
9.5 GW
Cumulative modules shipped since inception
10.46 GW (~25 million+ modules, as of March 2026)
Distribution network
110+ authorized distributors, 100+ system integrators, 550+ dealers across 22 states and 2 union territories
Permanent employees
1,612 (1,523 male : 89 female)
O&M portfolio under management
1.39 GW of solar projects
Founded 2005Headquarters Kolkata, West Bengal, IndiaEmployees 1,612 (FY25 (year ended March 3) Company website

How the price took the results

close before → close after

Q1 FY27
−5.5%
7 Aug
Q4 FY26
−4.7%
8 May
Q3 FY26
+1.7%
28 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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