# Vikram Solar share price today (Vikram Solar Ltd, NSE: VIKRAMSOLR)

> Vikram Solar share price today: ₹129.37 at the NSE close on 3 November 2026, down 60.3% in a year. Vikram Solar (NSE: VIKRAMSOLR) is worth ₹4,699 crore, trades at a P/E of 13.0 and has closed between ₹125.29 and ₹321.30 over the past 52 weeks. > Vikram Solar Ltd's P/E is near the low end of its own history, higher than only 2% of past readings, and its quarterly results are still getting worse. VIKRAMSOLR · Capital Goods - Solar · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/vikram-solar-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Price: ₹129.37 (−60.3% in a year)
- P/E: 13.0× (lower than 98% of the last 1 year)
- Revenue (Jun 2026): ₹1,563 Cr (+37.8% on a year ago)
- Profit (Jun 2026): ₹20.0 Cr (−85.0% on a year ago)
- Operating margin: 8.0% (−13.0 points on a year ago)
- ROCE: 31%, FY26
- ROIC: 12.4%, against a 12.0% cost of capital: +0.4 points
- Profit that came in as cash: 161%, last 3 years

The main question: yearly earnings per share moved +195.0% while the share price moved −60.3%. ## What is the Vikram Solar share price today? Vikram Solar Ltd's share price was ₹129.37 at the close on 3 November 2026. It has been falling for 62 weeks. That is 33.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹125 and ₹321, and at that close it sat 2% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 23 weeks running. Over the last 1 year the share price moved −62% while the NIFTY 500 moved −4%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 17 June 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Vikram Solar this quarter? Three changes stood out: profit fell in the June 2026 quarter, operating margin down 13 points on a year earlier and revenue up on a year earlier for 5 quarters in a row (every quarter we can compare). 1. Profit fell in the June 2026 quarter Profit was ₹20 crore, -85% on a year earlier (₹133 crore), after 4 quarters of growth. From the earnings call on 7 Aug 2026. 2. Operating margin down 13 points on a year earlier 8% in the June 2026 quarter, from 21%. Why: Operating margin fell because the direct cost of making its products rose, not because the whole business became less efficient. Next results: check whether the company gives a clear split between domestic content and other margins and whether raw material cost increases are passed on to customers. From the earnings call on 7 Aug 2026. 3. Revenue up on a year earlier for 5 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹1,563 crore, +37.8% on a year earlier. Why: Revenue rose because the company sold more modules and expanded its reach through distributors and dealers. Next results: check whether domestic content sales grow as management expects and whether the order book turns into revenue. From the earnings call on 7 Aug 2026. ## What are Vikram Solar's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Vikram Solar reported revenue of ₹1,563 crore, up 37.8% from ₹1,134 crore a year earlier, and a profit of ₹20.0 crore, down 85.0% from ₹133 crore. ### Vikram Solar results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,563 crore | ₹1,134 crore | +37.8% |
| Profit | ₹20.0 crore | ₹133 crore | −85.0% |
| Earnings per share | ₹0.55 | ₹4.21 | −86.9% |
| Operating margin | 8.0% | 21.0% | −13.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Vikram Solar's management discussed these results on a call held on 7 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Vikram Solar share price history? Vikram Solar closed at ₹129.37 on 3 November 2026, down 60.3% from ₹326.25 a year earlier (31 October 2025). Its highest weekly close since August 2025 was ₹357.25 on 12 September 2025. ### Vikram Solar share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹127.98 | +1.1% |
| 1 month ago · 1 Oct 2026 | ₹154.35 | −16.2% |
| 6 months ago · 30 Apr 2026 | ₹219.39 | −41.0% |
| 1 year ago · 31 Oct 2025 | ₹326.25 | −60.3% |
| Earliest weekly close in our records · 29 Aug 2025 | ₹336.55 | −61.6% |
| Highest weekly close since August 2025 · 12 Sep 2025 | ₹357.25 | −63.8% |
| Lowest weekly close since August 2025, also the 52-week low · 30 Oct 2026 | ₹125.29 | +3.3% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹321.30 | −59.7% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (66 weekly closes from 29 August 2025 to 3 November 2026.)

## What is the latest news on Vikram Solar? 3 Nov 2026: Vikram Solar closed at ₹129.37, up 1.1% on the week and down 16.2% on the month. 7 Aug 2026: Vikram Solar held its results call for April to June 2026. Management guided: FY27 operating profit guidance ₹1,500-1,600 crore; H1 review deferred pending DCR pricing, distribution penetration and policy clarity. ### Earlier

- Results for April to June 2026: Revenue up 37.8% and profit down 85.0% on a year earlier. ## What dividend does Vikram Solar pay? Vikram Solar has paid no dividend on the NSE since its first NSE close in our records (29 August 2025), the start of the period we checked. No. Vikram Solar Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Vikram Solar management say on the latest results call? On the call for April to June 2026, held on 7 August 2026, Vikram Solar's management guided: FY27 operating profit guidance ₹1,500-1,600 crore; H1 review deferred pending DCR pricing, distribution penetration and policy clarity. > “The first cell remains targeted for Q4 FY27, taking us to roughly 70% backward integration.”
> Sameer Nagpal, CEO, on the call for April to June 2026

### What management guided

- DCR business expected to grow 2-2.5 times each quarter as serial volumes flow. - Gangaikondan cell commissioning goals January to March 2027, with full 9 GW potentially ramping into April to June 2027; wafer/ingot groundbreaking next month, FY29 commissioning and ₹5,600 crore project cost. - FY28 first-year cell utilization planned at 40-50% after a six-month ramp; upgraded-technology 3 GW cell phase remains FY28. - Powerhive phase-one assembly and LFP cell projects each 7.5 GWh; assembly equipment November 2026, installation January 2027, commercial operations March 2027; land and incentives finalized by September 2026, LFP cell COD January to March 2029. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/49012/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 7 August 2026.)

## What to watch in Vikram Solar's next results? When Vikram Solar reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: H1 guidance review - check whether the operating profit framework is reaffirmed or reset after Q2 cost and mix performance. - What to check (from the call)
- H1 guidance review - check whether the operating profit framework is reaffirmed or reset after Q2 cost and mix performance. - DCR versus non-DCR margin split - check whether serial volumes produce a quantified bridge and whether BOM inflation passes through. - Cell-line commissioning - check first output timing, full-line ramp and readiness to open large-account DCR orders. - Powerhive execution - check assembly installation, LFP land and incentive closure, and progress on the first utility-scale order. ## Which stock lists is Vikram Solar on? Vikram Solar is on 2 of our India lists: 52 week high & low and Power & green energy stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Power & green energy stocks Group on the list: Solar and wind equipment makers](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Vikram Solar profitable? Vikram Solar Ltd earned ₹20.0 Cr of net profit in the Jun 2026 quarter, −85.0% on the same quarter a year earlier. Full-year FY26 profit was ₹469 Cr. Over 6 years profit has grown 66.5% a year on average. That is 1.3% of the quarter's revenue. The same quarter a year earlier earned ₹133 Cr. For the full year, FY26 profit was ₹469 Cr (+237.4% on the year before). Why profit moved: revenue changed +37.8% on a year earlier and the margin moved −13.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +520.1% and revenue +40.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Vikram Solar make, and is it growing? Vikram Solar Ltd reported ₹1,563 Cr of revenue in the Jun 2026 quarter, +37.8% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 6 years it has grown 19.6% a year on average. The last full year, FY26, came in at ₹4,803 Cr. The last four reported quarters add to ₹5,232 Cr. FY26 revenue was ₹4,803 Cr, +40.6% on the year before. Recent pace: the last four quarters grew +40.3% on average, against 19.6% a year over the longer run, so this year is growing faster than its own long-run rate. ## How much of every ₹100 of sales does Vikram Solar keep? Vikram Solar Ltd's operating margin was 8.0% in the Jun 2026 quarter, 13.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 3.4% and 19.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −13.3 percentage points on the year while gross margin changed −12.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Vikram Solar's profit turning into cash? Over the last 3 years, 161% of Vikram Solar Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹667 Cr of operating cash against ₹469 Cr of profit. After ₹712 Cr of spending on assets, free cash was −₹45.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 161% of profit came in as cash: the cash cycle got 62 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building. ## Where does Vikram Solar's cash go? Vikram Solar Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 13 days in FY26, down from 75 days in FY21. It spent ₹892 Cr on assets over the last 3 years. Customers take 92 days to pay, and stock sits for 89 days on average. At FY26 sales of ₹4,803 Cr, each day of that cycle ties up about ₹13.2 Cr, so roughly ₹171 Cr is tied up in the business at any time. FY26: customers took 92 days to pay and stock sat for 89 days, about 2.9 months of sales sitting as stock, for a full cycle of 13 days, shorter than FY21's 75. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 89 days. Customers pay about 92 days after that. Suppliers are paid at 168 days. Together that makes the 13-day cycle. Spending on assets: ₹892 Cr over the last 3 years, against ₹456 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹19.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Vikram Solar's P/E ratio, and how does it compare with its own history? Vikram Solar Ltd's P/E is 13.0×, about the lowest it has ever been. Its usual P/E (the middle reading) is 16.9×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +195.0% while the price moved −60.3%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Vikram Solar business getting better or worse? Vikram Solar Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 5 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Vikram Solar earn on its capital? Vikram Solar Ltd earned a ROCE of 31% in FY26. That is up from a low of 2% in FY22. Its return on capital used (ROIC) is 0.4 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 9.8% net margin and 0.85× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 9.8% net margin × 0.85× asset turnover × 1.78× leverage (assets divided by equity) ≈ 14.8% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 12.4% − 12.0% = +0.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 12.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 21.9%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Vikram Solar have too much debt? Vikram Solar Ltd has total debt of ₹645 Cr against shareholder equity of ₹3,168 Cr as of Jun 2026, so its debt is 0.20× its equity, which is very little. Year by year, that ratio went from 2.13 in FY22 to 0.20 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Vikram Solar shareholding pattern? Domestic institutions cut their stake in Vikram Solar Ltd by 2.6 percentage points over 4 quarters, the biggest change among its owners. Domestic institutions now own 3.6% of the company. Foreign institutions moved +1.0 points over the same period, to 3.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −2.6 points over 4 quarters, to 3.6%; Foreign institutions: +1.0 points over 4 quarters, to 3.1%; Promoters: −0.1 points over 4 quarters, to 63.0%. Why the owners changed: domestic institutions drove it (−2.6 points), with the other side taken by foreign institutions (+1.0 points). They reduced their stake. ## How far is Vikram Solar from balance-sheet trouble? For Vikram Solar Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Vikram Solar rank in its industry? 48.9 out of 100, rank 4 of 7 in Capital Goods - Solar, with 74% of the evidence available. Vikram Solar Ltd scores 48.9 out of 100 against the 7 companies it is compared with in Capital Goods - Solar, ranking 4. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 13.2 + 12.7 + 14.7 + 8.3 = 48.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Vikram Solar compared with? Vikram Solar ranks 4 of 7 Capital Goods - Solar companies on the 4-Factor Sector Score, with 48.9 out of 100. 1. [Premier Energies Ltd](https://www.sectoralpha.in/stocks/premier-energies-ltd) PREMIERENE · basing · Most evidence points up · 89% evidence 69.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 26.7% · Profit 59.9% · Operating margin change -1 points · 88% evidence Capital efficiency 15.1/25 · ROCE 32.7% · Operating margin 29% · 100% evidence Valuation 13.5/20 · P/E 23.9× · PEG 0.58 · 65% evidence Relative strength 18.9/20 · Lead over its industry 29.9% · Lead over NIFTY 500 -1.3% · 1 year -19.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.8 + 15.1 + 13.5 + 18.9 = 69.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Waaree Energies Ltd](https://www.sectoralpha.in/stocks/waaree-energies-ltd) WAAREEENER · basing · Most evidence points up · 75% evidence 66.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 75.4% · Profit 38.4% · Operating margin change -5 points · 95% evidence Capital efficiency 18.1/25 · ROCE 38.4% · Operating margin 18% · 76% evidence Valuation 9.1/20 · P/E 17× · PEG n/a · 15% evidence Relative strength 17.4/20 · Lead over its industry 11.3% · Lead over NIFTY 500 -15.8% · 1 year -32.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.8 + 18.1 + 9.1 + 17.4 = 66.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Websol Energy System Ltd](https://www.sectoralpha.in/stocks/websol-energy-system-ltd) WEBELSOLAR · basing · Evidence leans up · 79% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.2/35 · Revenue 76.1% · Profit 57.3% · Operating margin change -13 points · 88% evidence Capital efficiency 19.3/25 · ROCE 63.2% · Operating margin 34% · 100% evidence Valuation 10.3/20 · P/E 9.1× · PEG n/a · 15% evidence Relative strength 10.6/20 · Lead over its industry 5.4% · Lead over NIFTY 500 -21.4% · 1 year -46.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 17.2 + 19.3 + 10.3 + 10.6 = 57.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Vikram Solar Ltd this page VIKRAMSOLR · quiet · Evidence leans down · 74% evidence 48.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.2/35 · Revenue 33.2% · Profit 42.4% · Operating margin change -13 points · 88% evidence Capital efficiency 12.7/25 · ROCE 30.6% · Operating margin 8% · 100% evidence Valuation 14.7/20 · P/E 12.6× · PEG 0.51 · 65% evidence Relative strength 8.3/20 · Lead over its industry n/a · Lead over NIFTY 500 -34.5% · 1 year -61.6% · 25% evidence · 0 of 12 weeks ahead Exact sum: 13.2 + 12.7 + 14.7 + 8.3 = 48.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 5. [Solex Energy Ltd](https://www.sectoralpha.in/stocks/solex-energy-ltd) SOLEX · quiet · Evidence leans down · 64% evidence 48.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.5/35 · Revenue 100% · Profit 30% · Operating margin change -4.8 points · 88% evidence Capital efficiency 13.7/25 · ROCE 34.9% · Operating margin 11.1% · 100% evidence Valuation 11.5/20 · P/E 7.3× · PEG n/a · 15% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -47.2% · 1 year -67.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 15.5 + 13.7 + 11.5 + 7.5 = 48.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Australian Premium Solar (India) Ltd](https://www.sectoralpha.in/stocks/australian-premium-solar-indialtd) APS · Too little evidence to rank firmly · 22% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/43.75 · Revenue n/a · Profit n/a · Operating margin change -1 points · 15% evidence Capital efficiency 21.3/31.25 · ROCE 56.5% · Operating margin 13% · 57% evidence Valuation 13.6/25 · P/E 8.2× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 21.8 + 21.3 + 13.6 = 56.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 7. [Bright Solar Ltd](https://www.sectoralpha.in/stocks/bright-solar-ltd) BRIGHT · Too little evidence to rank firmly · 25% evidence 38.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/43.75 · Revenue -62.5% · Profit 61.3% · Operating margin change -27.9 points · 19% evidence Capital efficiency 3.9/31.25 · ROCE 0% · Operating margin -57.7% · 75% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 22 + 3.9 + 12.5 = 38.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Solar](https://www.sectoralpha.in/sectors/capital-goods-solar), all 7 compared on one page. ## Which companies are close to Vikram Solar in size? Vikram Solar is the 3rd largest of 7 Capital Goods - Solar companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Waaree Energies and Premier Energies. Just below it: Websol Energy System, Solex Energy, Australian Premium Solar (India) and Bright Solar. ### Capital Goods - Solar companies close in size

1. [Waaree Energies Ltd](https://www.sectoralpha.in/stocks/waaree-energies-ltd) ₹66,275 crore
2. [Premier Energies Ltd](https://www.sectoralpha.in/stocks/premier-energies-ltd) ₹39,766 crore
3. Vikram Solar Ltd ₹4,540 crore
4. [Websol Energy System Ltd](https://www.sectoralpha.in/stocks/websol-energy-system-ltd) ₹2,849 crore
5. [Solex Energy Ltd](https://www.sectoralpha.in/stocks/solex-energy-ltd) ₹580 crore
6. [Australian Premium Solar (India) Ltd](https://www.sectoralpha.in/stocks/australian-premium-solar-indialtd) ₹474 crore
7. [Bright Solar Ltd](https://www.sectoralpha.in/stocks/bright-solar-ltd) ₹7 crore

[All 7 Capital Goods - Solar companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-solar#all-companies)

### Companies close in size in other industries

1. [VRL Logistics Ltd](https://www.sectoralpha.in/stocks/vrl-logistics-ltd) ₹4,547 crore · Logistics - Warehousing/Supply Chain
2. [SG Finserve Ltd](https://www.sectoralpha.in/stocks/sg-finserve-ltd) ₹4,540 crore · Finance & Investments - MSME Lending
3. Vikram Solar Ltd ₹4,540 crore
4. [Happiest Minds Technologies Ltd](https://www.sectoralpha.in/stocks/happiest-minds-technologies-ltd) ₹4,532 crore · IT Enabled Services
5. [Energy Infrastructure Trust](https://www.sectoralpha.in/stocks/energy-infrastructure-trust) ₹4,505 crore

## What else do people ask about Vikram Solar? ### What is Vikram Solar's share price today? Vikram Solar Ltd's share price is ₹129.37, −60.3% over the past year. The whole company is worth ₹4,699 Cr on the market. In the last 52 weeks it traded between ₹125 to ₹321; today it is 2% of the way up from the low, 33.8% below its 200-day average (as of 3 November 2026). ### What were Vikram Solar's latest quarterly results? Vikram Solar Ltd reported revenue of ₹1,563 Cr and net profit of ₹20.0 Cr for the Jun 2026 quarter. Revenue rose 37.8% and profit fell 85.0% compared with a year earlier. Earnings per share were ₹0.55. The operating margin was 8.0%, 13.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Vikram Solar's market cap? Vikram Solar Ltd's market capitalisation is ₹4,699 Cr at a share price of ₹129.37. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Vikram Solar performing? Vikram Solar Ltd's share price has been falling for 62 weeks. In its latest quarter, revenue rose 37.8% and profit fell 85.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 23 weeks running (as of 3 November 2026). ### Will Vikram Solar's share price go up? This page does not forecast Vikram Solar Ltd's share price. What it shows instead: the share price is ₹129.37, and it has been falling for 62 weeks. Its P/E of 13.0× is higher than 2% of its own last 1 years (as of 3 November 2026). ### Who owns Vikram Solar? Promoters own 63.0% of Vikram Solar Ltd, foreign institutions 3.1%, domestic institutions 3.6% and the public 30.2% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 2.6 percentage points over 4 quarters (as of 3 November 2026). ### Does Vikram Solar have too much debt? No, Vikram Solar Ltd has little debt: its debt is 0.19× its equity, and its operating profit is 6 times its interest bill. FY26 borrowings were ₹617 Cr against equity of ₹3,173 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Vikram Solar in its business cycle? Vikram Solar Ltd's FY26 operating margin was 19.0%, against a 7-year range of 3.4% to 19.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 8.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Vikram Solar story? The main question: yearly earnings per share moved +195.0% while the share price moved −60.3%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Vikram Solar a stock worth studying right now? What the numbers show: Vikram Solar Ltd's P/E is near the low end of its own history, higher than only 2% of past readings, and its quarterly results are still getting worse. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Vikram Solar share price forecast for 2026? What management itself guided: FY27 operating profit guidance ₹1,500-1,600 crore; H1 review deferred pending DCR pricing, distribution penetration and policy clarity. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

This is research, not advice. We’re not SEBI-registered.