Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Capital Goods - Solar Stocks in India

Capital Goods - Solar: Waaree Energies Ltd owns the largest revenue base AND the fastest current growth.

01 · the index people search for

Nifty Capital Goods - Solar Index — Constituents & Performance

The Capital Goods - Solar companies below are the listed Indian Capital Goods - Solar universe this page tracks — the same constituent set people search for as the Nifty Capital Goods - Solar index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Capital Goods - Solar moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 11% ahead of NIFTY 500. Earnings across its companies grew 56% on average over the last four reported quarters.

ASLEEP · 1y −29.0%✓Moving with the index0 of 6 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS — · 2/6 >200d (+0) · 0/6 lead (−2) · EPS 5/5↑

20050010002000500020262025202420232022 4483333 TRAILING 12-MONTH EPS · 100 AT THE START0100242Mar 24Mar 25Sep 25Mar 26Mar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2024 · trailing 12-month earnings per share at 101, against 100 at the start · down 98.8% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 108, against 100 at the start · up 153.9% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 152, against 100 at the start · up 45.4% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 150, against 100 at the start · up 64.4% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 242, against 100 at the start · up 49.7% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 206, against 100 at the start · up 63.8% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two206 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050010002000500020262025202420232022 4483333 TRAILING 12-MONTH EPS · 100 AT THE START0100242Mar 25Mar 26Mar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2024 · trailing 12-month earnings per share at 101, against 100 at the start · down 98.8% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 108, against 100 at the start · up 153.9% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 152, against 100 at the start · up 45.4% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 150, against 100 at the start · up 64.4% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 242, against 100 at the start · up 49.7% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 206, against 100 at the start · up 63.8% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two206No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Capital Goods - Solar, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 6 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Capital Goods - Solar outperforming NIFTY 500?

Capital Goods - Solar has underperformed NIFTY 500 by 28.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 18.1%. 1 of 6 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Premier Energies Ltd is the strongest against the sector itself at +24.1%.

-18.1%Sector vs NIFTY 500 · 13 weeks
-28.9%Sector vs NIFTY 500 · 52 weeks
1/6Stocks leading NIFTY 500
3/6Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: current leadership is concentrated, so durability matters more than rank.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Capital Goods - Solar has underperformed NIFTY 500 by 28.9% over 52 weeks and 18.1% over 13 weeks. 1 of 6 covered companies beat NIFTY on Mansfield relative strength, while 3 of 6 beat the sector itself. Waaree Energies Ltd leads with revenue of ₹30,043 crore, based on 6 of 7 comparable companies through Jun 2026.

Companies
7
complete canonical membership
Combined market value
₹1.4 L Cr
Waaree Energies Ltd
Revenue growing
4/5
positive TTM year-on-year growth
Beating NIFTY 500
1/6
positive Mansfield relative strength
Comparing 5 of 7
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Websol Energy System Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 88.6% evidence confidence.
Premier Energies Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Premier Energies Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Websol Energy System LtdWEBELSOLAR 70.0/100Favorable setup89% evidence ASLEEP 17.8/35 Revenue 82.1% · PAT 94.8% · OPM change -9 pp 88% evidence 21.1/25 ROCE 63.2% · OPM 36% 100% evidence 14.7/20 P/E 13.8× · PEG 0.3 65% evidence 16.4/20 RS sector 12.9% · RS bench -5.4% · 1Y -30%10 of 12 weeks ahead 100% evidence
Exact sum: 17.8 + 21.1 + 14.7 + 16.4 = 70 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Premier Energies LtdPREMIERENE 62.0/100Mixed-positive evidence89% evidence ASLEEP 13.4/35 Revenue 20% · PAT 61.1% · OPM change -3 pp 88% evidence 15.1/25 ROCE 33.3% · OPM 30% 100% evidence 13.5/20 P/E 30.7× · PEG 0.66 65% evidence 20.0/20 RS sector 24.1% · RS bench 5.7% · 1Y -6.1%9 of 12 weeks ahead 100% evidence
Exact sum: 13.4 + 15.1 + 13.5 + 20 = 62 · Decision use: Price leads the evidence: RS versus the benchmark is 5.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3Waaree Energies LtdWAAREEENER 61.2/100Mixed-positive evidence75% evidence ASLEEP 24.7/35 Revenue 94.3% · PAT 74% · OPM change -5 pp 95% evidence 17.9/25 ROCE 38.8% · OPM 18% 76% evidence 9.1/20 P/E 19.2× · PEG — 15% evidence 9.5/20 RS sector 0.4% · RS bench -14.2% · 1Y -16.2%3 of 12 weeks ahead 100% evidence
Exact sum: 24.7 + 17.9 + 9.1 + 9.5 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Solex Energy LtdSOLEX 53.8/100Thin evidence · provisional57% evidence ASLEEP 20.8/35 Revenue — · PAT — · OPM change 0 pp 45% evidence 15.0/25 ROCE 35.8% · OPM 11% 95% evidence 10.9/20 P/E 10.3× · PEG — 15% evidence 7.1/20 RS sector -3.5% · RS bench -28.5% · 1Y -37%5 of 10 weeks ahead 70% evidence
Exact sum: 20.8 + 15 + 10.9 + 7.1 = 53.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Vikram Solar LtdVIKRAMSOLR 51.1/100Mixed-positive evidence69% evidence ASLEEP 19.4/35 Revenue 40.3% · PAT 100% · OPM change -3 pp 88% evidence 13.0/25 ROCE 30.6% · OPM 16% 100% evidence 8.7/20 P/E 13.6× · PEG 2.03 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —4 of 10 weeks ahead 0% evidence
Exact sum: 19.4 + 13 + 8.7 + 10 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Australian Premium Solar (India) LtdAPS 47.0/100Thin evidence · provisional56% evidence ASLEEP 16.2/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 16.8/25 ROCE 56.5% · OPM 13% 95% evidence 11.5/20 P/E 9.4× · PEG — 15% evidence 2.5/20 RS sector -16.5% · RS bench -29.6% · 1Y -51.3%1 of 12 weeks ahead 100% evidence
Exact sum: 16.2 + 16.8 + 11.5 + 2.5 = 47 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Bright Solar LtdBRIGHT 33.0/100Thin evidence · provisional41% evidence 16.4/35 Revenue -62.5% · PAT 61.3% · OPM change -27.9 pp 27% evidence 3.6/25 ROCE 0% · OPM -57.7% 71% evidence 10.0/20 P/E — · PEG — 0% evidence 3.0/20 RS sector -44.8% · RS bench -56.2% · 1Y —0 of 12 weeks ahead to 2025-02-26 70% evidence
Exact sum: 16.4 + 3.6 + 10 + 3 = 33 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
05 · what price has already done

Market action

Premier Energies Ltd has the strongest one-year price move in Capital Goods - Solar at -6.1%. It also leads on Mansfield relative strength against NIFTY at +5.7%. 1 of 6 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

Waaree Energies Ltd has the highest Revenue among the 7 Capital Goods - Solar companies compared here, at ₹30,043 crore. Premier Energies Ltd is next at ₹7,824 crore. The same company also holds the highest Revenue growth, at 94.3%. 6 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Waaree Energies Ltd is the scale leader at ₹30,043 crore, 284% ahead of Premier Energies Ltd. Waaree Energies Ltd's growth is 94.3% from a ₹30,043 crore base, with 13 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderWaaree Energies Ltd · ₹30,043 crore
Gap284% versus #2 · Premier Energies Ltd
Persistence8/8 recent comparable periods
Coverage6/7 companies · 78 observations

Investor read: Waaree Energies Ltd is the scale benchmark; Waaree Energies Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Waaree Energies Ltd's growth falls below Waaree Energies Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Waaree Energies Ltd WAAREEENER₹30.0K Cr
2Premier Energies Ltd PREMIERENE₹7.8K Cr
3Vikram Solar Ltd VIKRAMSOLR₹4.8K Cr
4Solex Energy Ltd SOLEX⚠ unverified₹1.6K Cr
5Websol Energy System Ltd WEBELSOLAR₹1.0K Cr
Revenue growthfastest growers
1Waaree Energies Ltd WAAREEENER94%
2Websol Energy System Ltd WEBELSOLAR82%
3Vikram Solar Ltd VIKRAMSOLR40%
4Premier Energies Ltd PREMIERENE20%
5Bright Solar Ltd BRIGHT · older report-63%
Revenue · company comparison
6/7 level · 5/7 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Waaree Energies Ltd WAAREEENER₹7.9K Cr79%Jun 2026
Premier Energies Ltd PREMIERENE₹2.2K Cr38%Mar 2026
Vikram Solar Ltd VIKRAMSOLR₹1.5K Cr22%Mar 2026
Solex Energy Ltd SOLEX⚠ unverified₹886 Cr249%Mar 2026
Australian Premium Solar (India) Ltd APS₹405 Cr47%Mar 2026
Websol Energy System Ltd WEBELSOLAR₹401 Cr132%Mar 2026
Bright Solar Ltd BRIGHT₹0 Cr-45%Sep 2025
Full 20-quarter history · every available company

Revenue · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
₹47 Cr
—
₹81 Cr
—
₹75 Cr
—
₹164 Cr
—
₹275 Cr
—
₹302 Cr
—
₹405 Cr
—

Bright Solar Ltd · BRIGHT

₹1 Cr
—
₹6 Cr
—
₹5 Cr
—
₹19 Cr
—
₹1 Cr
—
₹9 Cr
—
₹0 Cr
—
₹1 Cr
—
₹0 Cr
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
₹611 Cr
₹694 Cr
₹712 Cr
₹1.1K Cr
₹1.7K Cr
₹1.5K Cr
₹1.7K Cr
₹1.6K Cr
₹1.8K Cr
₹1.8K Cr
₹1.9K Cr
₹2.2K Cr
—

Solex Energy Ltd · SOLEX⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
₹132 Cr
₹135 Cr
₹254 Cr
₹260 Cr
₹155 Cr
₹318 Cr
₹886 Cr
—

Vikram Solar Ltd · VIKRAMSOLR

₹299 Cr
₹566 Cr
₹566 Cr
—
—
—
—
—
—
—
—
₹631 Cr
₹573 Cr
₹1.0K Cr
₹1.2K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.5K Cr
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
₹3.3K Cr
₹3.5K Cr
₹1.6K Cr
₹2.9K Cr
₹3.4K Cr
₹3.6K Cr
₹3.5K Cr
₹4.0K Cr
₹4.4K Cr
₹6.1K Cr
₹7.6K Cr
₹8.5K Cr
₹7.9K Cr

Websol Energy System Ltd · WEBELSOLAR

₹58 Cr
₹50 Cr
₹63 Cr
₹3 Cr
₹14 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹25 Cr
₹112 Cr
₹144 Cr
₹147 Cr
₹173 Cr
₹219 Cr
₹168 Cr
₹261 Cr
₹401 Cr
—

Revenue growth · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
—
—
—
—
60%
—
102%
—
267%
—
84%
—
47%
—

Bright Solar Ltd · BRIGHT

-89%
—
-46%
—
203%
—
234%
—
-89%
—
-53%
—
-9.6%
—
-84%
—
-45%
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
171%
120%
141%
44%
9.9%
20%
13%
38%
—

Solex Energy Ltd · SOLEX⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
17%
136%
249%
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
80%
94%
7.8%
22%
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
—
—
—
—
2.4%
1.1%
117%
36%
30%
70%
119%
112%
79%

Websol Energy System Ltd · WEBELSOLAR

—
—
—
-93%
-76%
-100%
-100%
-100%
-100%
—
—
—
—
14,600%
592%
96%
17%
78%
132%
—
07 · compare level, then change

Operating Economics & Margin Trend

Websol Energy System Ltd has the highest OPM among the 7 Capital Goods - Solar companies compared here, at 36%. Premier Energies Ltd is next at 30%. Solex Energy Ltd has the highest Margin change at 0 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Websol Energy System Ltd leads opm at 36%; Solex Energy Ltd leads margin change at 0 percentage points.

LeaderWebsol Energy System Ltd · 36%
Gap20% versus #2 · Premier Energies Ltd
Persistence5/8 recent comparable periods
Coverage7/7 companies · 86 observations

Investor read: Websol Energy System Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Websol Energy System Ltd WEBELSOLAR36%
2Premier Energies Ltd PREMIERENE30%
3Waaree Energies Ltd WAAREEENER18%
4Vikram Solar Ltd VIKRAMSOLR16%
5Australian Premium Solar (India) Ltd APS13%
Margin changefastest expanders
1Solex Energy Ltd SOLEX⚠ unverified0.0 pp
2Australian Premium Solar (India) Ltd APS−1.0 pp
3Premier Energies Ltd PREMIERENE−3.0 pp
4Vikram Solar Ltd VIKRAMSOLR−3.0 pp
5Waaree Energies Ltd WAAREEENER−5.0 pp
Operating margin · company comparison
7/7 level · 7/7 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Websol Energy System Ltd WEBELSOLAR36%−9.0 ppMar 2026
Premier Energies Ltd PREMIERENE30%−3.0 ppMar 2026
Waaree Energies Ltd WAAREEENER18%−5.0 ppJun 2026
Vikram Solar Ltd VIKRAMSOLR16%−3.0 ppMar 2026
Australian Premium Solar (India) Ltd APS13%−1.0 ppMar 2026
Solex Energy Ltd SOLEX⚠ unverified11%0.0 ppMar 2026
Bright Solar Ltd BRIGHT-58%−27.9 ppSep 2025
Full 20-quarter history · every available company

OPM · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
6.0%
—
5.0%
6.3%
6.0%
12%
12%
13%
14%
14%
14%
—
13%
—

Bright Solar Ltd · BRIGHT

-176%
—
-81%
—
1.6%
—
-0.5%
—
-102%
—
-34%
—
-30%
—
-4.2%
—
-58%
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
12%
14%
17%
16%
22%
25%
30%
33%
30%
31%
31%
30%
—

Solex Energy Ltd · SOLEX⚠ unverified

2.9%
—
2.2%
—
9.2%
—
6.7%
—
9.4%
—
7.2%
—
11%
18%
11%
16%
12%
8.0%
11%
—

Vikram Solar Ltd · VIKRAMSOLR

2.5%
0.9%
0.9%
—
—
—
—
—
—
—
—
18%
13%
8.0%
19%
21%
21%
19%
16%
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
14%
15%
11%
14%
16%
15%
21%
23%
23%
23%
25%
19%
18%

Websol Energy System Ltd · WEBELSOLAR

12%
13%
8.6%
-129%
-14%
—
—
-750%
-277%
-429%
-13%
39%
44%
46%
45%
43%
43%
41%
36%
—

Margin change · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
—
—
—
—
0.0 pp
—
+7.0 pp
+7.2 pp
+8.0 pp
+2.2 pp
+2.0 pp
—
−1.0 pp
—

Bright Solar Ltd · BRIGHT

−180.1 pp
—
−80.0 pp
—
+177.4 pp
—
+80.2 pp
—
−103.5 pp
—
−33.5 pp
—
+72.1 pp
—
+29.7 pp
—
−27.9 pp
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
+10.0 pp
+11.0 pp
+13.0 pp
+17.0 pp
+8.0 pp
+6.0 pp
+1.0 pp
−3.0 pp
—

Solex Energy Ltd · SOLEX⚠ unverified

−3.9 pp
—
−1.0 pp
—
+6.2 pp
—
+4.5 pp
—
+0.2 pp
—
+0.5 pp
—
+1.6 pp
—
+3.8 pp
—
+1.0 pp
−10.0 pp
0.0 pp
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+3.0 pp
+8.0 pp
+11.0 pp
−3.0 pp
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
—
—
—
—
+2.0 pp
0.0 pp
+10.0 pp
+9.0 pp
+7.0 pp
+8.0 pp
+4.0 pp
−4.0 pp
−5.0 pp

Websol Energy System Ltd · WEBELSOLAR

−15.5 pp
+6.1 pp
−10.4 pp
−145.6 pp
−26.1 pp
−1,640.6 pp
−1,335.9 pp
−621.3 pp
−262.9 pp
+1,197.9 pp
+1,314.6 pp
+789.4 pp
+320.3 pp
+475.4 pp
+57.7 pp
+3.1 pp
−0.7 pp
−5.0 pp
−9.0 pp
—
08 · compare level, then change

Profit Scale & Acceleration

Waaree Energies Ltd has the highest Net profit among the 7 Capital Goods - Solar companies compared here, at ₹4,003 crore. Premier Energies Ltd is next at ₹1,510 crore. Vikram Solar Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Waaree Energies Ltd leads with ₹4,003 crore of TTM profit, 165.1% above Premier Energies Ltd. Vikram Solar Ltd shows ≥100% on the scoring scale (235% uncapped) growth from a ₹469 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderWaaree Energies Ltd · ₹4,003 crore
Gap165.1% versus #2 · Premier Energies Ltd
Persistence8/8 recent comparable periods
Coverage6/7 companies · 78 observations

Investor read: Waaree Energies Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Waaree Energies Ltd WAAREEENER₹4.0K Cr
2Premier Energies Ltd PREMIERENE₹1.5K Cr
3Vikram Solar Ltd VIKRAMSOLR₹469 Cr
4Websol Energy System Ltd WEBELSOLAR₹302 Cr
5Solex Energy Ltd SOLEX⚠ unverified₹99 Cr
Profit growthfastest growers
1Vikram Solar Ltd VIKRAMSOLR100%
2Websol Energy System Ltd WEBELSOLAR95%
3Waaree Energies Ltd WAAREEENER74%
4Bright Solar Ltd BRIGHT · older report61%
5Premier Energies Ltd PREMIERENE61%
Net profit · company comparison
6/7 level · 5/7 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Waaree Energies Ltd WAAREEENER₹892 Cr15%Jun 2026
Premier Energies Ltd PREMIERENE₹457 Cr64%Mar 2026
Websol Energy System Ltd WEBELSOLAR₹124 Cr158%Mar 2026
Vikram Solar Ltd VIKRAMSOLR₹110 Cr21%Mar 2026
Solex Energy Ltd SOLEX⚠ unverified₹59 Cr293%Mar 2026
Australian Premium Solar (India) Ltd APS₹29 Cr7.4%Mar 2026
Bright Solar Ltd BRIGHT₹-0 Cr-467%Sep 2025
Full 20-quarter history · every available company

Net profit · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
₹2 Cr
—
₹3 Cr
—
₹6 Cr
—
₹13 Cr
—
₹27 Cr
—
₹29 Cr
—
₹29 Cr
—

Bright Solar Ltd · BRIGHT

₹-3 Cr
—
₹-5 Cr
—
₹0 Cr
—
₹-0 Cr
—
₹-3 Cr
—
₹-3 Cr
—
₹0 Cr
—
₹0 Cr
—
₹-0 Cr
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
₹31 Cr
₹53 Cr
₹43 Cr
₹104 Cr
₹198 Cr
₹206 Cr
₹255 Cr
₹278 Cr
₹308 Cr
₹353 Cr
₹392 Cr
₹457 Cr
—

Solex Energy Ltd · SOLEX⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
₹9 Cr
₹14 Cr
₹15 Cr
₹25 Cr
₹6 Cr
₹9 Cr
₹59 Cr
—

Vikram Solar Ltd · VIKRAMSOLR

₹-9 Cr
₹-22 Cr
₹-22 Cr
—
—
—
—
—
—
—
—
₹23 Cr
₹7 Cr
₹19 Cr
₹91 Cr
₹133 Cr
₹128 Cr
₹98 Cr
₹110 Cr
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
₹338 Cr
₹320 Cr
₹141 Cr
₹475 Cr
₹401 Cr
₹376 Cr
₹507 Cr
₹644 Cr
₹773 Cr
₹878 Cr
₹1.1K Cr
₹1.1K Cr
₹892 Cr

Websol Energy System Ltd · WEBELSOLAR

₹4 Cr
₹2 Cr
₹0 Cr
₹-8 Cr
₹-4 Cr
₹-7 Cr
₹-5 Cr
₹-5 Cr
₹-4 Cr
₹-55 Cr
₹-57 Cr
₹23 Cr
₹42 Cr
₹42 Cr
₹48 Cr
₹67 Cr
₹46 Cr
₹65 Cr
₹124 Cr
—

Profit growth · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
—
—
—
—
200%
—
333%
—
350%
—
123%
—
7.4%
—

Bright Solar Ltd · BRIGHT

-1,023%
—
—
—
—
—
—
—
-1,133%
—
—
—
—
—
—
—
-467%
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
539%
289%
493%
167%
56%
71%
54%
64%
—

Solex Energy Ltd · SOLEX⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-33%
-36%
293%
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
478%
1,729%
416%
21%
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
—
—
—
—
19%
18%
260%
36%
93%
134%
118%
75%
15%

Websol Energy System Ltd · WEBELSOLAR

—
—
—
-367%
-200%
-450%
—
—
—
—
—
—
—
—
—
191%
9.5%
55%
158%
—
09 · compare level, then change

Return On Capital Employed

Websol Energy System Ltd has the highest ROCE among the 7 Capital Goods - Solar companies compared here, at 63.2%. Australian Premium Solar (India) Ltd is next at 56.5%. Bright Solar Ltd has the highest ROCE change at +10.9 percentage points, so level and change sit with different companies. Its ROCE series carries 10 reported observations across the 20-quarter window.

What the numbers say: Websol Energy System Ltd leads ROCE at 63.2%, 6.7 percentage points above Australian Premium Solar (India) Ltd. Bright Solar Ltd has the strongest latest improvement at +10.9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderWebsol Energy System Ltd · 63.2%
Gap11.9% versus #2 · Australian Premium Solar (India) Ltd
Persistence2/6 recent comparable periods
Coverage7/7 companies · 45 observations

Investor read: Websol Energy System Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Websol Energy System Ltd WEBELSOLAR63%
2Australian Premium Solar (India) Ltd APS57%
3Waaree Energies Ltd WAAREEENER39%
4Solex Energy Ltd SOLEX⚠ unverified36%
5Premier Energies Ltd PREMIERENE33%
ROCE changefastest improvers
1Bright Solar Ltd BRIGHT · older report+10.9 pp
2Waaree Energies Ltd WAAREEENER+4.0 pp
3Solex Energy Ltd SOLEX⚠ unverified+0.3 pp
4Websol Energy System Ltd WEBELSOLAR−2.2 pp
5Vikram Solar Ltd VIKRAMSOLR−2.7 pp
Return on capital · company comparison
7/7 level · 7/7 change

Withheld from this chart: Waaree Energies Ltd (WAAREEENER) — its two data sources disagree by up to 11% on reported income across 12 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
Websol Energy System Ltd WEBELSOLAR47%−2.2 ppMar 2026
Solex Energy Ltd SOLEX⚠ unverified29%+0.3 ppMar 2026
Premier Energies Ltd PREMIERENE25%−7.8 ppMar 2026
Vikram Solar Ltd VIKRAMSOLR21%−2.7 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
16%
24%
33%
24%
47%
33%
53%
32%
46%
25%
—

Solex Energy Ltd · SOLEX⚠ unverified

6.3%
3.9%
2.9%
1.9%
1.8%
6.0%
10%
12%
14%
18%
22%
—
22%
—
29%
60%
24%
37%
29%
—

Vikram Solar Ltd · VIKRAMSOLR

2.0%
2.6%
3.2%
—
—
—
—
—
—
—
—
—
—
—
24%
46%
20%
40%
21%
—

Websol Energy System Ltd · WEBELSOLAR

5.1%
6.5%
5.0%
—
-4.6%
—
-13%
—
—
—
-14%
—
18%
—
49%
—
50%
—
47%
—

ROCE change · reported quarter history

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
—
—
+31.3 pp
+9.4 pp
+20.0 pp
+8.4 pp
−0.9 pp
−7.8 pp
—

Solex Energy Ltd · SOLEX⚠ unverified

—
—
—
—
−4.5 pp
+2.1 pp
+7.5 pp
+9.9 pp
+12.5 pp
+11.9 pp
+11.3 pp
—
+7.5 pp
—
+6.9 pp
—
+1.8 pp
—
+0.3 pp
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
−2.7 pp
—

Websol Energy System Ltd · WEBELSOLAR

—
—
—
—
−9.7 pp
—
−18.2 pp
—
—
—
−0.6 pp
—
—
—
+63.2 pp
—
+31.8 pp
—
−2.2 pp
—
10 · compare level, then change

Valuation Against Growth & Quality

Websol Energy System Ltd has the lowest PEG among the 7 Capital Goods - Solar companies compared here, at 0.3×. Premier Energies Ltd is next at 0.66×. Australian Premium Solar (India) Ltd has the lowest P/E at 9.44×, so level and change sit with different companies. 3 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Websol Energy System Ltd has the lowest comparable PEG at 0.3×, 54.5% below Premier Energies Ltd. Only 3 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderWebsol Energy System Ltd · 0.3×
Gap54.5% versus #2 · Premier Energies Ltd
Persistence2/8 recent comparable periods
Coverage3/7 companies · 7 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1Websol Energy System Ltd WEBELSOLAR0.3
2Premier Energies Ltd PREMIERENE0.7
3Vikram Solar Ltd VIKRAMSOLR2.0
P/Elowest P/E
1Australian Premium Solar (India) Ltd APS9.4
2Solex Energy Ltd SOLEX⚠ unverified10.3
3Vikram Solar Ltd VIKRAMSOLR13.6
4Websol Energy System Ltd WEBELSOLAR13.8
5Waaree Energies Ltd WAAREEENER19.2
Valuation · company comparison
3/7 level · 6/7 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Vikram Solar Ltd VIKRAMSOLR2.013.2Mar 2026
Premier Energies Ltd PREMIERENE0.730.4Mar 2026
Websol Energy System Ltd WEBELSOLAR0.319.3Mar 2026
Waaree Energies Ltd WAAREEENER—22.1Jun 2026
Solex Energy Ltd SOLEX⚠ unverified—20.0Mar 2026
Australian Premium Solar (India) Ltd APS—10.4Mar 2026
Bright Solar Ltd BRIGHT—270.0Sep 2025
Full 20-quarter history · every available company

PEG · reported quarter history

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1.0
1.2
0.6
0.7
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.0
—

Websol Energy System Ltd · WEBELSOLAR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.8
0.3
—
—

P/E · reported quarter history

Australian Premium Solar (India) Ltd · APS

—
—
—
—
—
—
—
—
—
—
—
170.7
147.6
62.5
45.5
27.8
18.8
—
10.4
—

Bright Solar Ltd · BRIGHT

74.9
—
—
—
—
—
—
—
270.0
—
—
—
—
—
—
—
—
—
—
—

Premier Energies Ltd · PREMIERENE

—
—
—
—
—
—
—
—
—
—
—
—
119.9
81.4
46.6
46.8
44.3
33.1
30.4
—

Solex Energy Ltd · SOLEX⚠ unverified

26.5
60.1
92.5
—
—
201.8
126.8
153.5
172.7
127.5
239.1
132.3
152.2
67.3
31.4
34.3
42.5
24.2
20.0
—

Vikram Solar Ltd · VIKRAMSOLR

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
72.0
54.2
13.2
—

Waaree Energies Ltd · WAAREEENER

—
—
—
—
—
—
—
—
—
—
—
—
—
55.7
48.0
40.6
40.9
32.4
25.5
22.1

Websol Energy System Ltd · WEBELSOLAR

5.0
-100.0
35.6
—
—
—
—
—
—
—
—
-26.3
-98.6
143.0
32.6
27.7
25.7
16.7
19.3
—
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Capital Goods - Solar comparison names 7 specific ways its own evidence can mislead, all listed below. 1 of the 7 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 1 draws at least one figure from a second feed with too little overlap to cross-check.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
  • 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 7 Capital Goods - Solar companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing3 cross-checked · 3 unverified · 1 withheld, of 7 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

Capital Goods - Solar company comparison FAQs

These 24 answers restate the Capital Goods - Solar comparison above in question form. Every one is computed from the same 7 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Capital Goods - Solar sector outperforming NIFTY 500?

Capital Goods - Solar has underperformed NIFTY 500 by 28.9% over 52 weeks and 18.1% over 13 weeks. 1 of 6 covered companies beat NIFTY on Mansfield relative strength, while 3 of 6 beat the sector itself.

Which Capital Goods - Solar company is largest by revenue?

Waaree Energies Ltd leads with revenue of ₹30,043 crore, based on 6 of 7 comparable companies through Jun 2026.

Which Capital Goods - Solar company is growing fastest?

Waaree Energies Ltd has the fastest current revenue growth at 94.3%, across 5 of 7 comparable companies.

Which Capital Goods - Solar company has the strongest 4-Factor Sector Score?

Websol Energy System Ltd ranks first at 70/100 with 88.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Capital Goods - Solar company has the lowest comparable PEG?

Websol Energy System Ltd has the lowest comparable PEG at 0.3, among 3 of 7 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Capital Goods - Solar comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Capital Goods - Solar index?

The Nifty Capital Goods - Solar index tracks India's listed Capital Goods - Solar companies as a single basket. This page follows the same 7 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Capital Goods - Solar sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Capital Goods - Solar stocks in India?

Ranked by this page's four-factor score, Websol Energy System Ltd places first among 7 listed Capital Goods - Solar companies, followed by Premier Energies Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Capital Goods - Solar stocks are listed in India?

This comparison covers 7 listed Capital Goods - Solar companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Capital Goods - Solar company is the biggest?

Waaree Energies Ltd is the largest, with trailing-twelve-month revenue of ₹30,043 crore, ahead of Premier Energies Ltd at ₹7,824 crore. That covers 6 of 7 companies with comparable reporting through Jun 2026.

Which Capital Goods - Solar company has the best profit margins?

Websol Energy System Ltd has the highest operating margin at 36%, from 7 of 7 comparable companies. Solex Energy Ltd shows the biggest recent improvement, at 0 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Capital Goods - Solar company makes the most profit?

Waaree Energies Ltd earns the most, at ₹4,003 crore of trailing-twelve-month net profit, from 6 of 7 comparable companies. Vikram Solar Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Capital Goods - Solar company earns the highest return on capital?

Websol Energy System Ltd leads on return on capital employed at 63.2%, across 7 of 7 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Capital Goods - Solar stock is the cheapest?

On PEG — where a LOWER number is cheaper — Websol Energy System Ltd screens cheapest at 0.3×. Only 3 of 7 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Capital Goods - Solar sector beating the market?

Capital Goods - Solar has underperformed NIFTY 500 by 28.9% over the last 52 weeks and 18.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 6 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Capital Goods - Solar stock has the strongest price momentum?

Premier Energies Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Capital Goods - Solar company scores highest for research priority?

Websol Energy System Ltd scores 70 out of 100 with 88.6% evidence confidence, from 17.8 points on growth and earnings, 21.1 on capital efficiency, 14.7 on valuation and 16.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Capital Goods - Solar companies does this comparison cover, and over what period?

It compares 7 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Capital Goods - Solar sector?

The 7 Capital Goods - Solar companies on this page carry ₹1,35,671 crore of combined market value. Waaree Energies Ltd is the largest at ₹77,096 crore, about 57% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the Capital Goods - Solar sector's P/E ratio?

The median price-to-earnings ratio across the 7 Capital Goods - Solar companies on this page is 13.8×, measured on the 6 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.

How is the Capital Goods - Solar sector performing?

1 of the 6 covered Capital Goods - Solar companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 28.9% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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