The Heritage Academy

Kolkata, India Founded: 2007 • Age: 19 yrs Listed
Offers undergraduate and postgraduate courses in business, IT, and media science.

About The Heritage Academy

The Heritage Academy is a publicly listed company based in Kolkata (India) founded in 2007. It offers undergraduate and postgraduate courses in business, IT, and media science. It operates on a B2C model in Education and Technology sectors. The company has 1,454 employees. Its website tha.edu.in draws about 681 thousand monthly visits. Its Indian entity Vikram Solar Limited reported revenue of ₹4,861 Cr. The Heritage Academy offers products and services including Bachelor of Business Administration, Bachelor of Computer Applications, B.Sc. Media Science, B.Sc. in Cyber Security, and M.Sc. Media Science. Its focus areas include Higher Education, Business and Technology, Undergraduate Programs and Media and IT. Its competitors include Indian Institute Of Technology Kharagpur, KIIT, The Open University, IIIT-Delhi and Indian Institute of Technology Roorkee and 2 more.

Company details

The Heritage Academy, established in 2007 by the Kalyan Bharati Trust, delivers higher education through innovative teaching in fields like business administration, computer applications, media science, and cyber security. Located in Kolkata, India, it focuses on practical skills via workshops, seminars, and industry visits, preparing students for professional landscapes with facilities including libraries, labs, and sports. The institution emphasizes student development through co-curricular activities and placements.

  • Headquarters Kolkata, India
  • Employees 1,454
  • Stage Public
  • Sectors
    Education
    Technology
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website tha.edu.in
  • Social LinkedIn X Facebook YouTube
  • Legal Name Vikram Solar Private Limited
  • Date of Incorporation 02 Dec, 2005
  • Jurisdiction Kolkata, West Bengal, India
Key Metrics
  • Market Cap
    ₹5,103 Cr

    VIKRAMSOLR · NSE

  • Share Price
    ₹140.83

    -2.20% today

  • Revenue
    ₹4,803 Cr

    FY 2025-26 · +40.6% YoY

  • EBITDA
    ₹910 Cr

    Margin 18.9%

  • Net Profit
    ₹473 Cr

    FY 2025-26 · +240.4% YoY

  • P/E (TTM)
    14.5x

    P/B 1.6x

  • ROE
    21.2%

    ROCE 29.9%

  • Debt / Equity
    0.20

    Interest cover 21.4x

  • Employee Count
    1,454

Products & Services of The Heritage Academy

The Heritage Academy offers a comprehensive portfolio of products and services, including Bachelor of Business Administration, Bachelor of Computer Applications, B.Sc. Media Science, B.Sc. in Cyber Security, and M.Sc. Media Science.

Bachelor of Business Administration
Business Course

Undergraduate program focusing on business management and skills.

Bachelor of Computer Applications
IT Course

Program for computer applications and technology development.

B.Sc. Media Science
Media Course

Degree in media studies and communication techniques.

B.Sc. in Cyber Security
Technology Course

Course on cyber security and digital protection strategies.

M.Sc. Media Science
Advanced Media Course

Postgraduate program in advanced media and science applications.

Apps and channels of The Heritage Academy

its YouTube channel The Heritage Group of Institutions has 2.86K subscribers and 30 videos.

The Heritage Group of Institutions
YouTube 2.86K subscribers 30 videos Science & Technology
Open channel

Videos from The Heritage Academy

The most watched videos on The Heritage Academy's YouTube channel, The Heritage Group of Institutions (2.86K subscribers). Click a video to play it here.

Design your Destiny with Daaji
3.1K views
Hackathon ’24@ Heritage Institute of Technology
231 views
The Chinmaya Indic Fest 2025 | Heritage Group of Institutions
194 views
HackHeritage 3.0 | 36-Hour Offline Hackathon
167 views

More on The Heritage Group of Institutions.

Board of directors of Vikram Solar Limited (The Heritage Academy)

Vikram Solar Limited is the primary company behind The Heritage Academy. The board of Vikram Solar Limited currently have 8 directors; the longest-serving is Gyanesh Chaudhary, appointed in 2008. 21 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Gyanesh Chaudhary
DIN 00060387
Managing Director14 Jul 200818 yrs 3 moVikram Solar Limited
Krishna Kumar Maskara
DIN 01677008
Whole-time director01 Jan 200917 yrs 9 moVikram Solar Limited
Ratnabali Kakkar
DIN 09167547
Director12 Dec 20214 yrs 10 moVikram Solar Limited
Subramanya Krishnappa
DIN 00730656
Director15 Feb 20233 yrs 8 moVikram Solar Limited
Sumit Binani
DIN 01113411
Director27 Sep 20242 yrsVikram Solar Limited
Joginder Pal Dua
DIN 02374358
Director01 Dec 202510 moVikram Solar Limited
Suresh Gopinathan Menon
DIN 09721950
Director01 Dec 202510 moVikram Solar Limited
Sameer Nagpal
DIN 06599230
Whole-time director07 May 20265 moVikram Solar Limited

IPO & Listings of The Heritage Academy

The Heritage Academy is a publicly listed company on the NSE with ticker symbol VIKRAMSOLR in India, operating in the Capital Goods - Electrical Equipment sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: VIKRAMSOLR
  • Listed entityVikram Solar Limited
  • Exchange sectorCapital Goods - Electrical Equipment

Financials of The Heritage Academy

Exchange-reported figures of Vikram Solar Limited, the listed company behind The Heritage Academy (NSE: VIKRAMSOLR).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹4,803 Cr
+40.6% YoY
EBITDA
₹910 Cr
+85.6% YoY
Profit After Tax
₹473 Cr
+240.4% YoY
Net Worth
₹3,173 Cr
+152.4% YoY
Total Assets
₹3,830 Cr
+144.7% YoY
Total Debt
₹617 Cr
+126.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue4,8033,4152,5112,0731,7301,6101,640
Revenue growth+40.6%+36.0%+21.1%+19.8%+7.5%-1.8%-
EBITDA91049138718658.68177140
EBITDA margin+19.0%+14.4%+15.4%+9.0%+3.4%+11.0%+8.5%
Profit before tax64621610718.86(79.43)56.2030.42
Net profit47313988.3415.30(62.93)38.3420.75
Net profit margin+9.9%+4.1%+3.5%+0.7%-3.6%+2.4%+1.3%
EPS (₹)12.954.393.080.56(2.43)16.238.06
Balance sheet
Total assets3,8301,5661,7741,7131,1941,129885
Net worth3,1731,257445365351414362
Total debt617272854792703672494
Cash & bank992180116104136101122
Net working capital1,6667511,175990576615465
Cash flow
Cash from operations66729015219520112.70227
Cash from investing(1,808)(175)(63.68)(110)(155)(39.61)(35.97)
Cash from financing1,120(92.33)(81.03)(102)(36.22)3.81(174)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,5631,4531,1061,1101,1341,1941,026573
Revenue growth (YoY)+37.9%+21.7%+7.8%+93.7%+79.7%---
Other income12.6218.2020.2315.904.207.5411.7910.52
EBITDA12623519923524222484.7272.13
EBITDA margin+8.1%+16.1%+18.0%+21.2%+21.4%+18.7%+8.3%+12.6%
Depreciation64.0157.1136.5234.8833.5042.2439.1337.33
Interest49.4056.5540.1731.5832.2648.1627.8133.88
Profit before tax25.2113914318418114129.5711.44
Tax5.4428.6344.6955.9747.2650.2410.554.08
Net profit19.7711098.1312813390.6219.027.36
EPS (₹)0.543.032.703.824.202.980.690.25
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue4,8033,4152,4412,0061,7001,5771,520
Revenue growth+40.6%+39.9%+21.7%+18.0%+7.9%+3.8%-
EBITDA91049138018253.13174117
EBITDA margin+19.0%+14.4%+15.6%+9.1%+3.1%+11.1%+7.7%
Profit before tax64621610014.61(84.84)53.779.52
Net profit47313974.5713.54(60.13)37.146.00
Net profit margin+9.9%+4.1%+3.1%+0.7%-3.5%+2.4%+0.4%
EPS (₹)12.954.392.580.49(2.32)15.782.16
Balance sheet
Total assets3,8301,5661,7881,7291,2091,153977
Net worth3,1731,257460388367424378
Total debt617272854788703672494
Cash & bank99218011590.1012280.73120
Net working capital1,6667511,188999566618535
Cash flow
Cash from operations66729017017320718.94231
Cash from investing(1,808)(175)(82.02)(88.70)(157)(50.76)(37.89)
Cash from financing1,120(92.33)(81.03)(100)(36.22)5.39(174)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,5361,4531,1061,1101,1351,1831,027574
Revenue growth (YoY)+35.3%+22.8%+7.7%+93.5%+79.7%---
Other income12.5418.3720.0615.764.244.7514.2810.24
Total expenses1,4111,218908876891972939496
EBITDA12523519823424421187.3577.68
EBITDA margin+8.1%+16.1%+17.9%+21.1%+21.5%+17.9%+8.5%+13.5%
Depreciation63.9957.1036.5134.8833.5042.2439.1337.32
Interest49.3456.4840.1331.5532.2545.2329.9933.79
Profit before tax24.2113914118418212932.5116.81
Tax5.4829.3344.7455.4947.8845.8911.595.99

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 20 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,5631,4531,1061,1101,1341,1941,026573
Revenue growth (YoY)+37.9%+21.7%+7.8%+93.7%+79.7%---
Other income12.6218.2020.2315.904.207.5411.7910.52
EBITDA12623519923524222484.7272.13
EBITDA margin+8.1%+16.1%+18.0%+21.2%+21.4%+18.7%+8.3%+12.6%
Depreciation64.0157.1136.5234.8833.5042.2439.1337.33
Interest49.4056.5540.1731.5832.2648.1627.8133.88
Profit before tax25.2113914318418114129.5711.44
Tax5.4428.6344.6955.9747.2650.2410.554.08
Net profit19.7711098.1312813390.6219.027.36
EPS (₹)0.543.032.703.824.202.980.690.25
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue4,8033,4152,5112,0731,7301,6101,640
Revenue growth+40.6%+36.0%+21.1%+19.8%+7.5%-1.8%-
Other income58.4336.2212.9718.6812.7417.4622.29
Total expenses3,8932,9252,1241,8871,6721,4331,500
Employee cost15611796.2991.2110987.0792.46
EBITDA91049138718658.68177140
EBITDA margin+19.0%+14.4%+15.4%+9.0%+3.4%+11.0%+8.5%
Depreciation16215613863.9447.9838.8336.77
Interest16015515512210399.4894.97
Profit before tax64621610718.86(79.43)56.2030.42
Tax17777.0627.574.39(16.50)18.007.92
Net profit47313988.3415.30(62.93)38.3420.75
Net profit margin+9.9%+4.1%+3.5%+0.7%-3.6%+2.4%+1.3%
EPS (₹)12.954.393.080.56(2.43)16.238.06
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital36231725925925923.5327.93
Reserves & surplus2,81194118710692.46391334
Shareholders' funds (net worth)3,1731,257445365351414362
Minority interest0.000.000.000.000.000.000.00
Secured loans100231626599618536445
Unsecured loans51741.2722819384.8713649.41
Total debt617272854792703672494
Total liabilities3,8301,5661,7741,7131,1941,129885
Assets
Gross block1,7871,079899902748532465
Net block1,079534505644547381357
Capital work in progress18.9313.6627.8117.773.5766.5510.91
Investments7421190.000.000.000.000.00
Inventories815429393373265193227
Sundry debtors1,2141,2281,185959917736532
Cash & bank balances992180116104136101122
Loans & advances354145284317301236264
Total current assets3,3751,9821,9781,7531,6191,2661,144
Total current liabilities1,7091,2318047631,043650680
Net working capital1,6667511,175990576615465
Total assets3,8301,5661,7741,7131,1941,129885
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash30.678.451.6318.878.5931.6815.20
Net cash from operating activities66729015219520112.70227
Net cash from investing activities(1,808)(175)(63.68)(110)(155)(39.61)(35.97)
Net cash from financing activities1,120(92.33)(81.03)(102)(36.22)3.81(174)
Net change in cash(20.77)22.237.32(17.24)10.28(23.09)16.48
Closing cash992180116104136101122
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+40.6%+36.0%+21.1%+19.8%+7.5%-1.8%-
EBITDA growth+85.6%+26.8%+107.8%+217.3%-66.9%+26.6%-
PBT growth+199.1%+101.5%+468.7%+9998.0%-+84.8%+9997.0%
Net income growth+240.4%+57.4%+477.4%+124.3%-264.1%+84.8%-
Revenue CAGR (3Y)+32.3%+25.4%+16.0%+8.1%---
EBITDA CAGR (3Y)+69.7%+103.0%+29.8%+10.0%---
Profitability & leverage
Net income margin+9.8%+4.1%+3.2%+0.7%-3.6%+2.4%+1.4%
Return on capital employed+29.9%+22.2%+15.7%+9.7%+2.0%+15.5%+14.2%
Return on net worth+21.2%+16.3%+21.8%+4.0%-16.4%+9.8%+6.2%
Debt / equity0.200.662.032.091.801.501.37
Long-term debt / equity0.120.160.410.500.480.480.52
Interest cover21.4346.2362.1299.85961.4071.9792.11
Efficiency & per share
Fixed asset turnover3.353.452.792.512.703.233.53
Inventory turnover7.728.316.556.507.567.687.24
Debtors turnover3.932.832.342.212.092.543.08
EPS (₹)12.954.393.080.56(2.43)16.238.06
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)87.5739.7217.2114.1113.57176.12129.57
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,5361,4531,1061,1101,1351,1831,027574
Revenue growth (YoY)+35.3%+22.8%+7.7%+93.5%+79.7%---
Other income12.5418.3720.0615.764.244.7514.2810.24
Total expenses1,4111,218908876891972939496
EBITDA12523519823424421187.3577.68
EBITDA margin+8.1%+16.1%+17.9%+21.1%+21.5%+17.9%+8.5%+13.5%
Depreciation63.9957.1036.5134.8833.5042.2439.1337.32
Interest49.3456.4840.1331.5532.2545.2329.9933.79
Profit before tax24.2113914118418212932.5116.81
Tax5.4829.3344.7455.4947.8845.8911.595.99
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue4,8033,4152,4412,0061,7001,5771,520
Revenue growth+40.6%+39.9%+21.7%+18.0%+7.9%+3.8%-
Other income58.4336.2215.2620.1312.8217.6924.58
Total expenses3,8932,9252,0611,8251,6471,4021,403
Employee cost15611790.0783.6696.9475.8178.83
EBITDA91049138018253.13174117
EBITDA margin+19.0%+14.4%+15.6%+9.1%+3.1%+11.1%+7.7%
Depreciation16215613863.9247.9238.7536.72
Interest16015515712310399.4594.89
Profit before tax64621610014.61(84.84)53.779.52
Tax17777.0633.431.92(24.71)16.633.48
Net profit47313974.5713.54(60.13)37.146.00
Net profit margin+9.9%+4.1%+3.1%+0.7%-3.5%+2.4%+0.4%
EPS (₹)12.954.392.580.49(2.32)15.782.16
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital36231725925925923.5327.93
Reserves & surplus2,811941202129108401350
Shareholders' funds (net worth)3,1731,257460388367424378
Secured loans100231626599618536445
Unsecured loans51741.2722818984.8713649.41
Total debt617272854788703672494
Total liabilities3,8301,5661,7881,7291,2091,153977
Assets
Gross block1,7871,079882881739528464
Net block1,079534493627542381356
Capital work in progress18.9313.6612.678.033.5766.5510.91
Investments74211943.6134.9430.9727.6428.20
Inventories815429388339260192226
Sundry debtors1,2141,2281,181959899727517
Cash & bank balances99218011590.1012280.73120
Loans & advances354145296327299234256
Total current assets3,3751,9821,9801,7151,5791,2341,119
Total current liabilities1,7091,2317927161,014616584
Net working capital1,6667511,188999566618535
Total assets3,8301,5661,7881,7291,2091,153977
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash30.678.451.0116.823.0729.5010.76
Net cash from operating activities66729017017320718.94231
Net cash from investing activities(1,808)(175)(82.02)(88.70)(157)(50.76)(37.89)
Net cash from financing activities1,120(92.33)(81.03)(100)(36.22)5.39(174)
Net change in cash(20.77)22.237.44(15.82)13.75(26.43)18.74
Closing cash99218011590.1012280.73120
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+40.6%+39.9%+21.7%+18.0%+7.9%+3.8%-
EBITDA growth+85.6%+29.1%+109.1%+242.3%-69.5%+49.5%-
PBT growth+199.1%+115.6%+586.0%+9998.0%-+464.8%+9997.0%
Net income growth+240.4%+86.5%+450.7%+122.5%-261.9%+519.0%-
Revenue CAGR (3Y)+33.8%+26.2%+15.7%+9.7%---
EBITDA CAGR (3Y)+71.1%+109.8%+29.7%+16.0%---
Profitability & leverage
Net income margin+9.8%+4.1%+2.7%+0.6%-3.5%+2.4%+0.4%
Return on capital employed+29.9%+22.1%+15.3%+9.4%+1.5%+14.4%+10.8%
Return on net worth+21.2%+16.2%+17.6%+3.4%-15.2%+9.3%+1.7%
Debt / equity0.200.661.941.981.741.451.44
Long-term debt / equity0.120.150.380.580.570.470.53
Interest cover21.4346.2364.91104.681,974.4773.38118.87
Efficiency & per share
Fixed asset turnover3.353.482.772.482.683.183.49
Inventory turnover7.728.366.716.707.547.567.04
Debtors turnover3.932.832.282.162.092.542.87
EPS (₹)12.954.392.580.49(2.32)15.782.16
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)87.5739.7217.7914.9714.17180.35135.29

Competitors of The Heritage Academy

The Heritage Academy has 7 listed competitors in our database. They include Indian Institute Of Technology Kharagpur, KIIT, The Open University, IIIT-Delhi and Indian Institute of Technology Roorkee, among others.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
iitkgp.ac.in1951Kharagpur, India–59
Academic programs in engineering, technology, and research are provided.
kiit.ac.in1992Bhubaneswar, India–429
Multiple undergraduate and postgraduate programs are offered in diverse fields.
open.ac.uk1969Milton Keynes, United Kingdom––
Multiple courses and degrees are offered across diversified academic streams.
iiitd.ac.in2008Delhi, India––
Degrees in information technology and computer science are offered.
iitr.ac.in1847Roorkee, India–21
College offering multiple courses and degrees
siu.edu.in1971Pune, India––
Multiple undergraduate and postgraduate courses are offered across diversified streams.
amity.edu1995Noida, India–223
University offering UG & PG courses across medical, IT, and other streams
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Web traffic of The Heritage Academy

The website of The Heritage Academy (tha.edu.in) receives about 680.7K visits a month.

  • Monthly visits
    680.7K

    ▼ 6.7% vs previous month

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Top companies in Higher & Specialized Education

10 companies that operate in the same segment as The Heritage Academy (Higher & Specialized Education), ranked by their profile score on The Company Check.

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Lives are transformed through education by Laureate Education globally.
1998Baltimore, Maryland, United StatesUSD 150 MUSD 1.7 B31,800
MIT is recognized as a leading institution for education and research.
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Various courses and degrees are offered across multiple academic streams.
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Undergraduate, graduate, and professional programs are offered in diverse fields.
1865United States––13,969
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Multiple courses and degrees are offered across diversified streams.
2013Delhi, Delhi, IndiaUSD 62.53 MUSD 43.95 M210
University offering multiple UG & PG programs in engineering, business, science, and humanities stream
1991Singapore, Singapore–––
Educational support for abroad college selection and preparation is offered.
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Multiple courses and degrees are offered across diversified academic streams.
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University offering degrees in medicine, dentistry & foundation in science
2001Bengaluru, Karnataka, IndiaUSD 379.89 MUSD 79 M366
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Related news about The Heritage Academy

Vikram Solar: Gets 187 MW Module Order For Solar Projects In Karnataka And Tamil Nadu.
Exchange Update • 5 days ago
Vikram Solar: Company Gets 400 MW Order for N-Type Topcon Modules from Major EPC Player for Solar Projects in Maharashtra
Exchange Update • 22 days ago
Vikram Solar: Signs 1 GW Solar Cell Supply Deal With Avaada Electro For N-Type Topcon Cells
Exchange Update • 1 month ago
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Frequently Asked Questions about The Heritage Academy

The Heritage Academy was founded in 2007.

The Heritage Academy is headquartered in Kolkata, India. It is registered at Kolkata, West Bengal, India.

The Heritage Academy has 1,454 employees.

The primary company behind The Heritage Academy, Vikram Solar Limited, reported revenue of ₹4,861 Cr for FY 2026, up 41% year on year.

The Heritage Academy, established in 2007 by the Kalyan Bharati Trust, delivers higher education through innovative teaching in fields like business administration, computer applications, media science, and cyber security. Located in Kolkata, India, it focuses on practical skills via workshops, seminars, and industry visits, preparing students for professional landscapes with facilities including libraries, labs, and sports. The institution emphasizes student development through co-curricular activities and placements.

The Heritage Academy's top competitors include Indian Institute Of Technology Kharagpur, IIIT-Delhi and The Open University.

The Heritage Academy offers Bachelor of Business Administration, Bachelor of Computer Applications, B.Sc. Media Science, B.Sc. in Cyber Security, and M.Sc. Media Science.

Yes, The Heritage Academy is publicly traded on NSE under the ticker symbol VIKRAMSOLR.

The Heritage Academy operates through Vikram Solar Limited.

The legal entities of The Heritage Academy currently have 10 directors, including Krishna Kumar Maskara, Joginder Pal Dua, Ratnabali Kakkar and others.

The website of The Heritage Academy receives about 681 thousand visits a month.

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