VIKRAMTH
Vikram Thermo (India) financials
- Market cap
- ₹477 Cr
Quarterly results
Q1 FY27: revenue up 31.0%, net profit up 62.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34 | 34 | 27 | 29 | 35 +3% | 34 +0% | 38 +41% | 38 +31% |
| EBITDA | 12 | 13 | 7 | 11 | 15 +25% | 15 +15% | 12 +71% | 18 +64% |
| Net profit | 10 | 9 | 4 | 8 | 11 +10% | 11 +22% | 9 +125% | 13 +63% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +103.5% 1Y
1Y: ₹166.85 on 10 Sept 2025 → ₹339.55. High ₹339.55 (11 Sept 2026), low ₹136.1 (30 Mar 2026).
Financials, as filed
Revenue grew 12.7% a year over 2 years, FY24 to FY26. Operating margin widened to 39.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹107 Cr | ₹126 Cr | ₹136 Cr |
| Operating profit | ₹36 Cr | ₹44 Cr | ₹53 Cr |
| Operating margin | 33.6% | 34.9% | 39.0% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Net profit | ₹25 Cr | ₹7 Cr | ₹39 Cr |
| Net margin | 23.4% | 5.6% | 28.7% |
| Cash from operations | ₹23 Cr | ₹24 Cr | ₹52 Cr |
| Free cash flow | ₹17 Cr | ₹-16 Cr | ₹42 Cr |
| ROCE | 31.0% | 35.0% | 36.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹6 Cr | ₹6 Cr | ₹31 Cr | ₹31 Cr | ₹31 Cr | ₹31 Cr |
| Reserves | ₹59 Cr | ₹67 Cr | ₹58 Cr | ₹82 Cr | ₹106 Cr | ₹126 Cr |
| Borrowings | ₹10 Cr | ₹15 Cr | ₹19 Cr | ₹7 Cr | ₹2 Cr | ₹5 Cr |
| Other liabilities | ₹16 Cr | ₹16 Cr | ₹19 Cr | ₹22 Cr | ₹26 Cr | ₹26 Cr |
| Total liabilities | ₹92 Cr | ₹104 Cr | ₹127 Cr | ₹143 Cr | ₹165 Cr | ₹188 Cr |
| Fixed assets | ₹32 Cr | ₹53 Cr | ₹61 Cr | ₹61 Cr | ₹48 Cr | ₹57 Cr |
| Capital work in progress | ₹18 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹5 Cr | ₹0 Cr |
| Investments | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹15 Cr | ₹6 Cr | ₹20 Cr |
| Other assets | ₹32 Cr | ₹40 Cr | ₹55 Cr | ₹65 Cr | ₹105 Cr | ₹110 Cr |
| Total assets | ₹92 Cr | ₹104 Cr | ₹127 Cr | ₹143 Cr | ₹165 Cr | ₹188 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +0.26 pp while the public trimmed −0.25 pp. The shareholder count shrank 9% to 12,055.
- Promoters
- 66.0%
- DIIs
- 0.3%
- Public
- 33.7%
Since Jun 2025
- DIIs +0.26 pp
- Public −0.25 pp
- Promoters +0.01 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 65.9%, Public 34.1%.Dec '23: Promoters 65.9%, Public 34.0%.Mar '24: Promoters 65.9%, Public 34.1%.Jun '24: Promoters 65.9%, Public 34.0%.Sep '24: Promoters 65.9%, Public 34.0%.Dec '24: Promoters 65.9%, Public 34.1%.Mar '25: Promoters 65.9%, Public 34.1%.Jun '25: Promoters 66.0%, Public 34.0%.Sep '25: Promoters 66.0%, Public 34.0%.Dec '25: Promoters 66.0%, Public 34.0%.Mar '26: Promoters 66.0%, Public 34.0%.Jun '26: Promoters 66.0%, DIIs 0.3%, Public 33.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Harjivanbhai K Patel newly disclosed 5.35% held
- Rachana Vikalp Patel newly disclosed 2.39% held
- Hetalben Ankur Patel newly disclosed 2.39% held
- Ghanshyambhai Karsandas Patel - 2 newly disclosed 0.01% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Vikram Thermo (India) Ltd. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Dhirajlal Karsanbhai Patel | 13.72% | −4.78 pp |
| Harjivanbhai K Patel | 5.35% | newly disclosed |
| Kundanben Ambalal Patel | 4.35% | unchanged |
| Patel Vimla Dhirajlal | 4.25% | unchanged |
| Kantaben Harjivanbhai Patel | 3.72% | unchanged |
| Dinesh Harjivanbhai Patel | 3.65% | unchanged |
| Ankur Dhirajlal Patel | 3.20% | unchanged |
| Vikalp Dhirajlal Patel | 3.20% | unchanged |
| Kanchanben Ghanshyambhai Patel | 3.15% | unchanged |
| Rekhaben Mahendrakumar Patel | 2.83% | unchanged |
| Harjivanbhai K Patel - 2 | 2.39% | −2.96 pp |
| Rachana Vikalp Patel | 2.39% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Vikram Thermo (India) Ltd.
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