| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 1,563 | 1,134 | +37.9% |
| EBITDA | 126 | 242 | −48.0% |
| EBITDA margin | 8.1% | 21.4% | −13.3 pts |
| Profit before tax | 25.2 | 181 | −86.0% |
| Net profit | 19.8 | 133 | −85.2% |
| EPS | ₹0.55 | ₹4.21 | −86.9% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 |
|---|
| 4,624 | — | — | — | |
| 35.8 | 35.8 | 39.2 | 8.9 | |
| 100 | 100 | 231 | 610 | |
| 4,689 | — | — | — | |
| 5,232 | 4,802 | 3,423 | 2,511 | |
| — | +40.3% | +36.3% | — | |
| 800 | 917 | 492 | 399 | |
| 15.3% | 19.1% | 14.4% | 15.9% | |
| 608 | 755 | 336 | 261 | |
| 357 | 470 | 140 | 79.7 | |
| 6.8% | 9.8% | 4.1% | 3.2% | |
| ₹9.85 | ₹12.98 | ₹3.86 | ₹2.20 | |
| — | +236.4% | +75.4% | — | |
| — | 630 | 299 | 152 | |
| — | −722 | — | — | |
| −92.5 | −92.5 | 299 | 152 | |
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|
| Market Capitalization | — | — | — | 4,624.4 | |
| - Cash, Equiv & ST Investments | 8.9 | 39.2 | 35.8 | 35.8 | |
| + Total Debt | 609.7 | 230.7 | 100.1 | 100.1 | |
| Enterprise Value | — | — | — | 4,688.7 | |
| Revenue | 2,511.0 | 3,423.5 | 4,802.3 | 5,231.8 | |
| Growth %, YoY | — | +36.3 | +40.3 | — | |
| EBITDA | 398.6 | 492.0 | 916.6 | 800.4 | |
| Margin % | 15.87 | 14.37 | 19.09 | 15.30 | |
| EBIT | 260.6 | 336.0 | 754.6 | 607.9 | |
| Net Income | 79.7 | 139.8 | 470.4 | 356.8 | |
| Margin % | 3.17 | 4.08 | 9.80 | 6.82 | |
| EPS, Adj (current shares) | 2.20 | 3.86 | 12.98 | 9.85 | |
| Growth %, YoY | — | +75.4 | +236.4 | — | |
| Cash from Operations | 152.0 | 298.7 | 629.5 | — | |
| Capital Expenditures | — | — | -722.1 | — | |
| Free Cash Flow | 152.0 | 298.7 | -92.5 | -92.5 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Vikram Solar (NSE: VIKRAMSOLR) had a market capitalisation of ₹4,540 crore at the 30 October 2026 close (₹125.29 a share), a PE ratio of 12.7 on the last four quarters' profit and a price-to-book ratio of 1.43. In FY26 its consolidated net profit was ₹470 crore on revenue of ₹4,802 crore; in Q1 FY27 (April–June 2026) it was ₹19.8 crore, down 85.2% year on year. Its debt-to-equity ratio was 0.03 on 31 March 2026. Promoters held 63.01% of the shares on 30 September 2026.
Vikram Solar's PE ratio is 12.7 at the 30 October 2026 close (₹125.29 a share): a market capitalisation of ₹4,540 crore divided by consolidated net profit of ₹357 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹470 crore) it is 9.7.
Vikram Solar's price-to-book (PB) ratio is 1.43 at the 30 October 2026 close: a market capitalisation of ₹4,540 crore divided by shareholders' equity (book value) of ₹3,168 crore on 31 March 2026. That is a book value of ₹87.42 per share against a share price of ₹125.29.
Vikram Solar's net worth — shareholders' equity in its consolidated balance sheet — was ₹3,168 crore on 31 March 2026. Its market value is a different figure: a market capitalisation of ₹4,540 crore at the 30 October 2026 close.
Vikram Solar's market capitalisation was ₹4,540 crore at the 30 October 2026 close: 36.24 crore shares at ₹125.29 each.
No. Vikram Solar had borrowings of ₹100 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.03. Its cash and current investments were ₹1,257 crore, so it held net cash of ₹1,157 crore.
Vikram Solar's debt-to-equity ratio was 0.03 on 31 March 2026: borrowings of ₹100 crore against total equity of ₹3,168 crore.
In FY26, Vikram Solar's return on equity (ROE) was 21.3% and its return on capital employed (ROCE) was 29.1%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities).
On 30 September 2026, Vikram Solar's shares were held by promoters 63.01%, foreign portfolio investors (FII/FPI) 3.10%, domestic institutions (DII) 3.66% (including mutual funds at 3.37%) and retail and other non-institutional investors 30.23%. Over the year, FII holding was up 1.01 percentage points from 2.09% and DII holding was down 2.54 percentage points from 6.20%.
Vikram Solar's latest results are for Q1 FY27 (April–June 2026), filed on 6 August 2026: consolidated net profit ₹19.8 crore, down 85.2% from ₹133 crore in Q1 FY26; revenue from operations ₹1,563 crore, up 37.9% year on year.
Vikram Solar's book value per share was ₹87.42 on 31 March 2026: shareholders' equity of ₹3,168 crore divided by the 36.24 crore shares in issue. The share price at the 30 October 2026 close was ₹125.29.
Promoters held 63.01% of Vikram Solar on 30 September 2026, unchanged from the previous quarter and down 0.11 percentage points from 63.12% a year earlier, according to the shareholding pattern filed with NSE.
Vikram Solar has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
Vikram Solar's basic earnings per share (EPS) were ₹13.68 in FY26, against ₹4.61 in FY25.
In FY26, Vikram Solar generated ₹630 crore of cash from operations and spent ₹722 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹92.5 crore. In FY25 it was ₹299 crore.
In FY26 (April 2025–March 2026), Vikram Solar's consolidated net profit was ₹470 crore, up 236.4% from ₹140 crore in FY25, on revenue from operations of ₹4,802 crore (up 40.3%).
On FY26 consolidated figures, against Waaree Energies, Premier Energies and Websol Energy System: Vikram Solar's operating margin of 15.7% is the lowest of the four (Waaree Energies 18.5%, Premier Energies 24.6%, Websol Energy System 35.0%; peer average 26.0%); its return on equity of 21.3% is the lowest of the four (Waaree Energies 31.0%, Premier Energies 42.4%, Websol Energy System 66.7%; peer average 46.7%).
At the 30 October 2026 closing prices, on FY26 net profit, Vikram Solar's PE ratio is 9.7, the third highest of the four: Waaree Energies 17.9, Premier Energies 26.3 and Websol Energy System 9.4, a peer average of 17.9. Each is the company's market capitalisation at that price divided by its FY26 net profit.
In FY26, Vikram Solar earned net profit of ₹470 crore on revenue of ₹4,802 crore, against ₹3,711 crore on ₹26,537 crore for Waaree Energies. Vikram Solar's operating margin was 15.7% (Waaree Energies 18.5%) and its return on equity 21.3% (Waaree Energies 31.0%). At the 30 October 2026 close, Vikram Solar's market capitalisation was ₹4,540 crore against ₹66,275 crore for Waaree Energies, and its PE ratio on FY26 profit 9.7 against 17.9.
From Vikram Solar's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.