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Vikram Solar (VIKRAMSOLR)₹139.96−2.28%Other Electrical Equipment
In the Jun 2026 quarter (consolidated), Vikram Solar reported sales of ₹1,563 Cr, up 37.9% from Jun 2025, and net profit of ₹20.01 Cr, down 84.9% year on year. For the year to Mar 2026, sales were ₹4,801 Cr and net profit ₹469 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 631 | 572 | 1,026 | 1,193 | 1,133 | 1,110 | 1,105 | 1,452 | 1,563 |
| Expenses | 521 | 503 | 945 | 973 | 894 | 878 | 905 | 1,223 | 1,442 |
| Operating Profit | 111 | 72.08 | 85.08 | 224 | 242 | 235 | 205 | 234 | 126 |
| OPM % | 18.0% | 13.0% | 8.0% | 19.0% | 21.0% | 21.0% | 19.0% | 16.0% | 8.0% |
| Other Income | 6.01 | 11.01 | 12.01 | 8.01 | 4.01 | 16.02 | 15.02 | 18.03 | 13.02 |
| Interest | 44.93 | 33.94 | 27.95 | 47.89 | 31.96 | 31.92 | 39.91 | 56.89 | 48.88 |
| Depreciation | 36.96 | 37.01 | 38.99 | 42.01 | 33.98 | 34.99 | 36.99 | 56.98 | 64.01 |
| Profit before tax | 36.09 | 11.04 | 30.08 | 141 | 182 | 185 | 143 | 139 | 25.07 |
| Tax % | 36.1% | 36.1% | 36.1% | 36.1% | 26.1% | 30.0% | 31.1% | 21.0% | 22.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −4.01 | 0.00 | 0.00 |
| Net Profit | 22.99 | 7.01 | 18.98 | 90.95 | 133 | 128 | 97.95 | 110 | 20.01 |
| EPS (Rs) | 0.73 | 0.24 | 0.61 | 2.87 | 4.22 | 3.56 | 2.72 | 3.06 | 0.56 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,639 | 1,608 | 1,730 | 2,073 | 2,511 | 3,412 | 4,801 | 5,231 |
| Expenses | 1,505 | 1,439 | 1,679 | 1,892 | 2,121 | 2,935 | 3,904 | 4,449 |
| Operating Profit | 140 | 177 | 59.06 | 187 | 399 | 491 | 917 | 801 |
| OPM % | 9.0% | 11.0% | 3.4% | 9.0% | 16.0% | 14.0% | 19.0% | 15.3% |
| Other Income | 22.03 | 17.02 | 13.01 | 18.01 | 1.01 | 36.07 | 52.09 | 62.09 |
| Interest | 94.83 | 98.78 | 103 | 122 | 155 | 155 | 160 | 178 |
| Depreciation | 36.99 | 39.02 | 48.01 | 63.94 | 138 | 156 | 162 | 193 |
| Profit before tax | 30.07 | 56.20 | −79.18 | 19.06 | 107 | 217 | 648 | 492 |
| Tax % | 26.0% | 32.0% | −21.0% | 23.1% | 26.1% | 36.1% | 27.0% | — |
| Exceptional items | 2.01 | 0.00 | 0.00 | −1.01 | −9.01 | 0.00 | −4.01 | −4.01 |
| Net Profit | 21.97 | 37.96 | −62.99 | 13.99 | 79.92 | 139 | 469 | 356 |
| EPS (Rs) | 8.08 | 16.27 | −2.44 | 0.57 | 3.09 | 4.40 | 12.98 | 9.90 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 28.08 | 24.05 | 260 | 259 | 260 | 318 | 363 |
| Reserves | 334 | 392 | 92.18 | 106 | 187 | 943 | 2,817 |
| Borrowings | 495 | 675 | 705 | 795 | 857 | 273 | 619 |
| Other Liabilities | 722 | 713 | 1,187 | 1,321 | 1,288 | 1,326 | 1,855 |
| Total Liabilities | 1,580 | 1,803 | 2,244 | 2,481 | 2,591 | 2,859 | 5,654 |
| Fixed Assets | 357 | 380 | 546 | 643 | 504 | 534 | 1,078 |
| CWIP | 11.05 | 67.22 | 4.02 | 18.07 | 28.13 | 14.07 | 19.07 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 119 | 744 |
| Other Assets | 1,213 | 1,355 | 1,695 | 1,820 | 2,059 | 2,193 | 3,812 |
| Inventories | 227 | 193 | 264 | 372 | 392 | 428 | 814 |
| Trade receivables | 532 | 736 | 918 | 959 | 1,186 | 1,228 | 1,213 |
| Cash & equivalents | 122 | 101 | 136 | 104 | 116 | 180 | 995 |
| Total Assets | 1,580 | 1,803 | 2,244 | 2,481 | 2,591 | 2,859 | 5,654 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 227 | 13.01 | 201 | 195 | 152 | 290 | 667 |
| Cash from investing activity | −36.12 | −40.14 | −156 | −110 | −64.28 | −176 | −1,815 |
| Cash from financing activity | −173 | 3.98 | −35.84 | −102 | −80.69 | −91.61 | 1,116 |
| Net cash flow | 15.96 | −22.93 | 9.98 | −16.97 | 6.98 | 21.94 | −20.95 |
| Capex | 49.01 | 56.96 | 146 | 131 | 72.01 | 106 | 283 |
| Free cash flow | 182 | −39.95 | 55.96 | 81.96 | 80.98 | 184 | 384 |
| CFO / OP % | 165.0% | 4.0% | 357.9% | 106.0% | 41.0% | 64.0% | 89.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 117 | 166 | 193 | 168 | 171 | 130 | 91 |
| Inventory days | 66 | 58 | 70 | 84 | 86 | 61 | 89 |
| Days payable | 144 | 149 | 198 | 101 | 141 | 118 | 168 |
| Cash conversion cycle | 41 | 75 | 66 | 152 | 117 | 75 | 13 |
| Working capital days | 8 | 26 | 0 | 62 | 64 | 44 | 37 |
| ROCE % | — | 16.1% | 2.0% | 13.1% | 22.1% | 26.1% | 31.1% |
For the Jun 2026 quarter, Vikram Solar reported sales of ₹1,563 Cr, up 37.9% year on year and net profit of ₹20.01 Cr, down 84.9% year on year. The operating margin was 8.0%.
Vikram Solar's sales for the year to Mar 2026 were ₹4,801 Cr; over the last twelve months they were ₹5,231 Cr.
Net profit for the year to Mar 2026 was ₹469 Cr, and ₹356 Cr over the last twelve months. Earnings per share over the same trailing period were ₹9.90.
Vikram Solar reported borrowings of ₹619 Cr at Mar 2026, against cash and equivalents of ₹995 Cr.
Cash from operations was ₹667 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹384 Cr.