Vikram Solar
-2.3 %As of May 09, 2025, Vikram Solar share price is INR 425.00 per share and the face value is INR 10.00 per share. The lot size of Vikram Solar is 100 shares. The 52 week high for Vikram Solar is INR 495.00, while the 52 week low is INR 235.00
About Vikram Solar
A Comprehensive Overview of Price & Journey
Understanding Vikram Solar Inception and Growth
SHOW MORE...About Vikram Solar
IPO Details, Price movement
Vikram Solar Projects
India
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225 MW – bilhaur, Uttar Pradesh (2021)
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200 MW – Anatapuramu, Andhra Pradesh (2018)
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20MW – Ayodhya, Uttar Pradesh (2019)
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10 MW – Itrasi, Madhya Pradesh (2018)
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10 MW – Dahej Port, Gandhar, Hazira (2018)
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1461 kW Rooftop – Gujarat (2018)
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350 kW Rooftop – Cossipore (2018)
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100 kW Rooftop – Haryana (2018)
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130 MW – Rajasthan (2017)
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80 MW – Charanka, Gujarat (2017)
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20 MW – Karnataka (2017)
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10 MW – Tirupati, Andhra Pradesh (2017)
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100 kW Rooftop – Patna (2017)
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10 kW Floating Solar Plant – Kolkata (2015)
Abroad
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Vikram Solar supplied 4.3 MW of Modules for a solar farm in Ware, Massachusetts, United States.
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Vikram Solar Supplied 52.6 MW of Modules to Southern Current, United States.
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4.2 MW project commissioned in the US with Vikram Solar modules.
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A 312 kWp solar system was installed by Finnwind Oy with Vikram Solar modules at Helsinki-Vantaa Airport
Registered Office
The registered office of Vikram Solar Limited is in Kolkata, West Bengal, India
Competitors
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Waaree Energies Limited
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Tata Power Solar
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ACME Solar
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Adani Solar
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Solar Planet
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Decon Solar Solutions
Key Highlights
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The company increased its manufacturing capacity to 3.5 GW in FY 2023-24, targeting 4.5 GW by FY 2024-25 and 10.5 GW by FY 2025-26.
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They are eligible for key subsidies, including PLI for our 2.4 GW solar facility and TNGO, bolstering our growth and innovation prospects.
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The company is present across all segments, like utility-scale projects, C&I, residential, ground mount, rooftop, and floating solar projects.
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The total number of modules manufactured in FY 2023-24 is 16,11,104.
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3.5 GW FY 2023-24 Cumulative Manufacturing Capacity
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715 WP FY 2023-24 Module Rated Power
Performance Highlights
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Revenue from operations increased by 21.11% to 25,109.90 million in FY24.
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EBITDA showed a 114.08% increase by reaching 3,985.79 million in FY24.
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Profit After Tax (PAT) increased by 450.1% to 797.18 million in FY24.
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The company has recorded a total income of 25,239.62 million during the financial year 2023-24 compared to 20,919.11 million in the corresponding previous financial year.
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The revenue from sales of goods for the FY 2023-24 was Rs. 24,572.86 million in comparison to the previous year, FY 2022-2,3, in which the revenue from sales of goods was Rs. 19,457.86 million.
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The Company has achieved robust revenue growth, with total revenue amounting to 25,109.90 million, reflecting a 21.11 % increase compared to the preceding fiscal year.
Indian Renewable Energy Sector
The Indian renewable energy market reached US$ 22.0 billion in CY 2023 and is further projected to hit US$ 46.7 billion by CY 2032, showing a CAGR of 8.71%. This growth is primarily driven by rapid technological advancements in renewable energy technologies, rising concerns about climate change and the impacts of fossil fuels, and increasing demand for clean energy solutions.
India ranks fourth in renewable energy installed capacity globally. Over the last eight years, the country has developed around more than 4x of renewable energy capacity.
In FY 2023-24, India witnessed significant growth in renewable energy installations. During this period, approximately 15,033 MW of solar capacity and 3,253 MW of wind capacity were added, indicating significant increases of 17.6% and 42.9%, respectively, compared to the previous year.
As of March 2024, India’s latest renewable energy installed capacity reached 190.6 GW, reflecting the country’s ongoing commitment to advancing its renewable energy sector.
It stands as one of India’s largest solar energy solution providers with a substantial production capacity of solar photovoltaic modules. Harnessing these capabilities, the company is committed to solidifying its position as a key player in the solar energy sector.
Global Renewable Capacity Projections
In 2024, wind and solar PV together are expected to generate more electricity than hydropower
In 2025, renewables are poised to surpass coal to become the largest source of electricity generation
In 2026, both wind and solar PV individually is expected to exceed nuclear electricity generation
In 2028, renewable energy sources will account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%
SHOW MORE...Fundamentals
Financials
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 1610.00 | 1730.00 | 2073.00 | 2511.00 |
| Other Income | 17.00 | 13.00 | 19.00 | 13.00 |
| COGS | 1216.30 | 1395.50 | 1717.40 | 1676.00 |
| Gross Profit | 411.30 | 347.60 | 374.60 | 847.90 |
| Total Expense | 216.80 | 276.20 | 169.70 | 436.40 |
| EBIDTA | 194.50 | 71.40 | 204.90 | 411.60 |
| D&A | 38.80 | 48.00 | 63.90 | 138.10 |
| EBIT | 155.70 | 23.40 | 140.90 | 273.50 |
| Interest Expense | 99.50 | 102.90 | 122.00 | 154.60 |
| PBT | 56.20 | -79.40 | 18.90 | 107.20 |
| TAX | 18.00 | -16.50 | 4.40 | 27.50 |
| PAT | 38.20 | -62.90 | 14.50 | 79.70 |
| Diluted EPS | 1.48 | -2.43 | 0.56 | 3.08 |
| Basic EPS | 1.48 | -2.43 | 0.56 | 3.08 |
| Total income | 1,627.00 | 1,743.00 | 2,092.00 | 2,524.00 |
ASSETS
| CURRENT ASSETS | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cash and Cash Equivalents | 8.59 | 18.87 | 1.63 | 9.00 |
| Trade Payables | 736.00 | 917.00 | 959.00 | 1185.00 |
| Inventory | 193.00 | 265.00 | 373.00 | 393.00 |
| Other Current Assets | 327.90 | 418.30 | 418.90 | 391.30 |
| Total Current Assets | 1,265.49 | 1,619.17 | 1,752.53 | 1,978.30 |
| NON CURRENT ASSETS | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Plant Property and Equipment | 433.35 | 533.89 | 650.26 | 526.58 |
| Long Term Investment | - | - | - | - |
| Other Non Current Assets | 99.00 | 84.00 | 73.00 | 80.64 |
| TOTOAL NON CURRENT ASSSETS | 532.35 | 617.89 | 723.26 | 607.22 |
| Total Assets | 1,797.84 | 2,237.06 | 2,475.79 | 2,585.52 |
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| CURRENT LIABILITES | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| TRADW Payable | - | - | - | - |
| Other Current Liab | 1050.00 | 1482.30 | 1296.20 | 1422.30 |
| Total Current Liab | 1,050.00 | 1,482.30 | 1,296.20 | 1,422.30 |
| NON CURRENTLIABILITIES | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Long Term Debt | 230.00 | 264.00 | 214.00 | 199.00 |
| Deffered Tax Liab | 18.00 | - | - | 8.00 |
| Other Non Current Liab | 85.60 | 139.60 | 600.90 | 510.80 |
LIABILITIES
| EQUITY | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 24.00 | 259.00 | 259.00 | 259.00 |
| Reserves And Surplus | - | - | - | - |
| Other Equity | 391.00 | 92.00 | 106.00 | 187.00 |
| Retained Earnings | - | - | - | - |
| share Equity | 415.00 | 351.00 | 365.00 | 446.00 |
| Total Liabilities | 748.60 | 754.60 | 1,179.90 | 1,163.80 |
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| CASH FLOW STAT | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cash Flow from operating | 13.00 | 201.00 | 195.00 | 152.00 |
| Cash Flow from financing | 4.00 | -36.00 | -102.00 | -81.00 |
| Cash Flow from investing | -40.00 | -155.00 | -111.00 | -64.00 |
| Net cash flow | -23.00 | 10.00 | -18.00 | 7.00 |
Revenue Growth
PAT Growth %
EPS Growth %
TOTAL ASSETS Growth %
QUICK RATIO Growth %
LONG TERM DEBT TO EQUITY RATIO Growth %
Events
Promoters or Management
Frequently Asked Questions
The lockin period is of 6 months for pre-ipo investors i.e. they cannot sell their shares for 6 months after they get listed. However, they can definitely sell the shares in pre-ipo market before they get listed.