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Vikram Solar Limited

₹ 429.00

mrf 7.74%

Listing Status: Active
Website Name
BSE: 500290
  • Market Cap ₹ 13,676.52
  • Current Price ₹ 429
  • High / Low
    ₹ 480 / 166
  • Stock P/E
  • Book Value 13.97
  • Dividend Yield N/A
  • ROCE 21.08%
  • ROE 17.94%
  • Face Value ₹ 10.0
  • Price to Sale ₹ 0.01
  • Enterprise Value ₹ 751.00
  • PEG Ratio N/A
  • EV/EBITDA ₹1.82
About

Vikram Solar, a prominent player in India’s solar industry since 2005, has established itself as one of the country’s leading solar module manufacturers with a current capacity of 3.5 GW and operations spanning 39 countries. The company’s comprehensive portfolio includes high-efficiency PV module manufacturing, EPC services, and O&M solutions, demonstrating their integrated approach to solar energy solutions. Their commitment to innovation is evident through their early adoption of new technologies and consistent recognition as a ‘Top Performer’ in PVEL’s Reliability Scorecard for six consecutive years since 2019.

 

Key Points

Peer comparison

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

S.No. Name CMPRs. P/E Mar Cap Rs.Cr. Div Yld% NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. Premier Energies 917.60 179.05 41363.11 0.05 255.22 490.51 1713.32 140.47 25.23
2. Waaree Energies 2426.20 70.48 69700.74 0.00 506.88 370.92 3457.29 116.60 43.63
3. Vikram Solar 428 170.96 13676.52 0.0 - - - - 21
Median:

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
1894 1938 1530 1610 1730 2073 2511
Sales growth % 2% -21% 5% 7% 20% 21%
NA NA NA NA NA NA NA NA NA NA NA NA NA NA
1761 1781 1414 1433 1672 1887 2124
Raw material cost 1586 1582 1164 1216 1395 1717 1676
Employee cost 67 77 78 87 109 91 98
Operating Profit 133 157 117 177 58 186 387
OPM % 7% 8% 8% 11% 3% 9% 15%
Other Income 17 14 25 17 13 19 13
Interest 68 91 95 99 103 122 155
Depreciation 27 28 37 39 48 64 138
Profit before tax 56 52 10 56 -80 19 108
Tax 22% 33% 37% 32% 21% 23% 26%
43 35 6 38 -63 15 80

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Equity capital 28 28 28 24 259 259 259
Reserves 299 335 350 391 92 106 187
665 559 478 672 749 792 854
Long term borrowings 263 204 187 230 264 214 199
Short term borrowings 402 356 307 391 439 524 610
Lease Liabilities 0 0 11 51 46 54 46
Other borrowings 0 0 0 0 0 0 0
316 526 702 712 1137 1319 1286
Trade payables 159 396 489 506 755 446 647
Other liabilities items 156 131 206 206 299 866 639
Total Liabilities 1308 1448 1578 1798 2237 2476 2585
299 337 356 382 547 645 533
Property, plant & equipment 291 323 333 320 487 572 449
Right of use assets 0 0 8 47 44 61 49
Goodwill 0 0 0 0 0 0 0
Intangible assets under development 0 2 0 0 1 1 0
Investment accounted for using equity method 0 0 0 0 0 0 0
Intangible assets 9 13 16 14 16 11 7
Other Intangible assets
CWIP 45 10 11 66 3 17 28
Investment 12 13 28 73 60 55 57
951 1088 1211 1350 1687 1814 2024
Inventories 196 206 226 193 265 373 393
Trade receivables 528 541 517 736 917 959 1185
Cash & Cash equivalents 75 98 108 101 136 104 116
Loan & advances 8 10 12 2 3 6 0
Other asset items 144 233 321 245 305 316 301
Total Assets 1308 1448 1578 1798 2237 2476 2585

Cash Flow

Consolidated Figure in RS. / View Standalone

Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
139 249 231 13 201 195 152
-62 -39 -38 -40 -155 -110 -64
-77 -203 -174 4 -36 -102 -81
Net Cash Flow 0 8 19 23 10 17 7
NA NA NA NA NA NA NA NA NA NA NA NA NA
NA NA NA NA NA NA NA NA NA NA NA NA NA

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Q.4 : What is a Draft Red Herring Prospectus (DRHP)?
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