profit from every ₹100 of sales.
₹0₹100
Vikram Solar
₹138.60-1.07% today
-42.9% in 1 year
1-year low ₹125.401-year high ₹246.25
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2023 to 2026.
0%20% a year
You pay ₹10.68 for every ₹1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Vikram Solar sold, what it kept, and what it did with the cash.
Sales went from ₹20.7 billion in 2023 to ₹48.0 billion in 2026, with ₹4.70 billion of profit last year.
SalesProfit
Vikram Solar vs. similar companies
Vikram Solar grows the fastest of these 5 and is the cheapest for its profits.
| Company | Profit from ₹100 of sales | Sales growth a year | Price per ₹1 of profit |
|---|---|---|---|
| Vikram Solar | 10.7× · Cheap | ||
 First Solar | 12.5× · Cheap | ||
 Tongwei Co.,Ltd | No profit yet | ||
 Jinko Solar | No profit yet | ||
 CSI Solar | 31.2× · Expensive |
AI analysis
An AI analyst reads Vikram Solar's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 20,730 | 25,110 | 34,235 | 48,023 | |
| 4,430 | 8,096 | 8,689 | 14,680 | |
| 1,552 | 2,750 | 3,360 | 7,546 | |
| 1,818 | 3,710 | 5,281 | 9,695 | |
| 145 | 797 | 1,398 | 4,704 | |
| 0.40 | 2.20 | 3.87 | 13.60 | |
| 21.4% | 32.2% | 25.4% | 30.6% | |
| 7.5% | 11.0% | 9.8% | 15.7% | |
| 0.7% | 3.2% | 4.1% | 9.8% |
Balance sheet
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Total assets | 24,763 | 25,855 | 28,322 | 57,285 |
| Cash | 16 | 89 | 392 | 358 |
| Total debt | 7,922 | 8,543 | 2,719 | 6,451 |
| Total liabilities | 21,111 | 21,401 | 15,902 | 25,607 |
| 3,652 | 4,454 | 12,420 | 31,678 | |
| 362 | 362 | 362 | 346 | |
| 8.0% | 14.2% | 19.4% | 16.7% | |
| 4.0% | 17.9% | 11.3% | 14.9% |
Cash flow
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 1,954 | 1,520 | 2,812 | 6,295 | |
| 1,314 | 716 | 1,333 | 7,221 | |
| 640 | 804 | 1,479 | -925 | |
| Dividends paid | – | – | – | – |
| – | – | – | – | |
| 0 | 0 | 60 | 154 |
Valuation
- 10.7×
- –
- 0.05
- 2.3×
- 1.0×
- –
- 5.8×
- -1.8%
- 9.4%
- –
Profitability
- 30.6%
- 15.7%
- 9.8%
- –
- 15.9%
- 13.9%
- –
- –
- –
- –
Growth
- +32.3%
- +223.8%
- –
- –
- −1.5%
Financial health
- 0.6×
- 0.20
- –
- 5.0×
- 1.88
- –
- –
How it ranks in Technology
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 16%of 974
Top 26%of 975
Top 5%of 729
Top 13%of 982
Bottom 18%of 985
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
2/7Passes 2 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
55No pass
Benjamin Graham
71Pass
Philip Fisher
58No pass
Peter Lynch
86Pass
Joel Greenblatt
59No pass
Charlie Munger
50No pass
Terry Smith
38No pass
Questions about Vikram Solar
Is Vikram Solar a good stock to buy?
A solid business, and the price looks low. 2 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Vikram Solar AI analysis
What does Vikram Solar do?
Vikram Solar Limited manufactures and sells solar photovoltaic modules/systems in India and internationally. It is in Solar, based in Kolkata, India.
Is Vikram Solar stock halal?
Yes. Vikram Solar passes our halal screen: its business is permitted and its debt is 13% of its market value, under the 30% limit. How we check
How has Vikram Solar stock done over the past year?
Down 42.9% over the past twelve months, to ₹138.60. It traded between ₹125.40 and ₹246.25 and is 43.7% below its high.
Who are Vikram Solar's competitors?
The largest listed companies in the same industry are First Solar, Tongwei Co.,Ltd, Jinko Solar and CSI Solar. The peers table on this page compares their profit, growth and price with Vikram Solar's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.