About Vikram Solar Limited
Data last updated: 06 March 2026
Vikram Solar Limited is a public limited company based in Kolkata, West Bengal, India. It specialises in bop and btg services, a part of the broader energy and power sector. Incorporated on 02 December 2005, the company has been in operation for over 21 years.
Registered with ROC Kolkata under CIN L18100WB2005PLC106448. Listed.
Capital: an authorised share capital of ₹400 Cr and a paid-up capital of ₹362.33 Cr. Formerly known as International Leather Clothiers Private Limited and Vikram Solar Private Limited. It is led by directors including Joginder Pal Dua and Ratnabali Kakkar.
Last AGM: 25 September 2025. Financial statements filed for year ended 31 March 2025. Office: Kolkata, West Bengal.
As per the financials filed for FY 2025, the company reported a revenue of ₹3,459.53 Cr, a growth of 37% compared to the previous year.
The company has a workforce of approximately 1,454 employees as per the latest available data.
The company is associated with 2 brands - The Heritage Academy, Vikram Solar. As per MCA filings, the company has open charges of ₹8,417.94 Cr and satisfied charges of ₹3,624.71 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vikramsolar.com.
-
Email**************
-
Telephone**************
-
Website**************
-
Social Media
-
Registered AddressBiowonder Unit No. 1102 11Th Floor 789 Anandapur Main Road, Eastern Metropolitan Bypass, Kolkata, West Bengal, India – 700107
-
IndustryEnergy and Power, BoP & BTG Services, Power EPC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Name History of Vikram Solar Limited
Vikram Solar Limited has undergone 3 name changes throughout its history. The company was previously known as International Leather Clothiers Private Limited, Vikram Solar Private Limited, and International Clothiers India Private Limited. The current legal name is Vikram Solar Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Vikram Solar Limited | Current |
| International Leather Clothiers Private Limited | Previous |
| Vikram Solar Private Limited | Previous |
| International Clothiers India Private Limited | Previous |
CIN History of Vikram Solar Limited
Vikram Solar Limited has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L18100WB2005PLC106448, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L18100WB2005PLC106448 | Current |
| U18100WB2005PLC106448 | Previous |
| U18100WB2005PTC106448 | Previous |
Associated Brands with Vikram Solar Limited
Vikram Solar Limited operates two associated brands: The Heritage Academy and Vikram Solar. These brands represent Vikram Solar Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Offers undergraduate and postgraduate courses in business, IT, and media science. | tha.edu.in | |
| Provider of solar photovoltaic modules and renewable energy solutions | vikramsolar.com |
Competitors & Alternatives of Vikram Solar Limited
Brands and companies operating in the same space as Vikram Solar Limited include Indian Institute Of Technology Kharagpur, Kyocera, IIIT-Delhi and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Indian Institute Of Technology Kharagpur
|
Academic programs in engineering, technology, and research are provided. | Kharagpur, India, India | 1951 |
Kyocera
|
Kyocera is engaged in providing technology solutions globally. | Horse Shoe, United States, United States | 1959 |
IIIT-Delhi
|
Degrees in information technology and computer science are offered. | Delhi, India, India | 2008 |
The Open University
|
Multiple courses and degrees are offered across diversified academic streams. | Milton Keynes, United Kingdom, United Kingdom | 1969 |
Symbiosis International
|
Multiple undergraduate and postgraduate courses are offered across diversified streams. | Pune, India, India | 1971 |
Amity University
|
University offering UG & PG courses across medical, IT, and other streams | Noida, India, India | 1995 |
Indian Institute of Technology Roorkee
|
College offering multiple courses and degrees | Roorkee, India, India | 1847 |
KIIT
|
Multiple undergraduate and postgraduate programs are offered in diverse fields. | Bhubaneswar, India, India | 1992 |
IFRI-SOL
|
Manufactures high-efficiency solar panels and supplies them globally through partnerships. | Tunisia | 2012 |
ARTsolar
|
Manufactures solar PV modules, assembles panels, and distributes solar products locally. | Pinetown, South Africa, South Africa | 2011 |
Business Activity of Vikram Solar Limited
Vikram Solar Limited is engaged in principal business activities including manufacturing and professional, scientific and technical, with detailed activities including electrical equipment, general purpose and special purpose machinery & equipment, transport equipment, architecture, engineering activities, technical testing and analysis activities. The company has 2 registered principal business activity segments, demonstrating its operational diversity and market reach.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | ********* |
| M | Professional, Scientific and Technical | M4 | Architecture, engineering activities, technical testing and analysis activities | ********* |
Board of Directors of Vikram Solar Limited
Vikram Solar Limited is currently managed by 10 directors, with 29 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Joginder Pal Dua | Additional Director | 01 Dec 2025 | 0 Years 7 Months | Current |
|
Ratnabali Kakkar
Also directs:
Vikram Solar Limited, Lux Industries Limited, Century Plyboards (India) Ltd. and 1 more
|
Director | 12 Dec 2021 | 4 Years 6 Months | Current |
|
Gyanesh Chaudhary
Also directs:
Club Belvedere Llp, Vikram Solar Limited, Vikram Capital Management Private Limited and 5 more
|
Managing Director | 14 Jul 2008 | 17 Years 11 Months | Current |
|
Neha Agrawal
Also directs:
Vikram Solar Limited, Vikram Solar Foundation, Vsl Powerhive Private Limited and 2 more
|
Whole-Time Director | 22 Mar 2021 | 5 Years 3 Months | Current |
|
Subramanya Krishnappa
Also directs:
Vikram Solar Limited
|
Director | 15 Feb 2023 | 3 Years 4 Months | Current |
|
Krishna Kumar Maskara
Also directs:
Vikram Solar Limited, Vsl Green Power Private Limited
|
Whole-Time Director | 01 Jan 2009 | 17 Years 6 Months | Current |
Financials of Vikram Solar Limited FY 2026 filings available
Vikram Solar Limited reported revenue of ₹4,802.25 Cr (up ) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | FY 2026 |
|---|---|
| Revenue from Operations | ₹4,802.25 Cr |
| Other Income | ₹58.53 Cr |
| Total Income | ₹4,860.78 Cr |
| Cost of Materials Consumed | ₹3,402.77 Cr |
| Purchases of Stock-in-Trade | ₹0 |
| Changes in Inventories | -₹68.56 Cr |
| Employee Benefit Expense | ₹161.94 Cr |
| Finance Costs | ₹160.56 Cr |
| Depreciation & Amortisation | ₹162.01 Cr |
| Other Expenses | ₹389.48 Cr |
| Total Expenses | ₹4,208.2 Cr |
| Profit Before Exceptional Items & Tax | ₹652.58 Cr |
| Exceptional Items | -₹5.62 Cr |
| Profit Before Tax | ₹646.96 Cr |
| Total Tax Expense | ₹176.54 Cr |
| Net Profit | ₹470.42 Cr |
| Other Comprehensive Income | ₹7.28 Cr |
| Total Comprehensive Income | ₹477.7 Cr |
| EBITDA (computed) | ₹975.15 Cr |
| Basic EPS | ₹13.68 |
| Diluted EPS | ₹13.60 |
| Metrics | FY 2026 |
|---|---|
| Total Assets | ₹5,728.48 Cr |
| Non-current Assets | ₹2,001.35 Cr |
| Current Assets | ₹3,727.13 Cr |
| Property, Plant & Equipment | ₹540.19 Cr |
| Inventories | ₹823.13 Cr |
| Trade Receivables | ₹1,214.35 Cr |
| Cash & Equivalents | ₹35.77 Cr |
| Equity (Net Worth) | ₹3,167.76 Cr |
| Equity Share Capital | ₹362.33 Cr |
| Borrowings (Non-current) | ₹0 |
| Borrowings (Current) | ₹100.07 Cr |
| Total Debt (computed) | ₹100.07 Cr |
| Current Liabilities | ₹1,977.55 Cr |
| Total Liabilities | ₹2,560.72 Cr |
| Metrics | FY 2026 |
|---|---|
| Operating Cash Flow | ₹629.55 Cr |
| Investing Cash Flow | -₹1,748.03 Cr |
| Financing Cash Flow | ₹1,114.83 Cr |
| Capital Expenditure | ₹722.09 Cr |
| Free Cash Flow (computed) | -₹92.55 Cr |
| Dividends Paid | ₹0 |
| Net Change in Cash | -₹3.38 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 |
|---|---|---|---|---|
| Revenue from Operations | ₹1,452.82 Cr | ₹1,105.95 Cr | ₹1,109.91 Cr | ₹1,133.58 Cr |
| Other Income | ₹18.2 Cr | ₹20.23 Cr | ₹15.9 Cr | ₹4.2 Cr |
| Total Income | ₹1,471.01 Cr | ₹1,126.18 Cr | ₹1,125.81 Cr | ₹1,137.78 Cr |
| Cost of Materials Consumed | ₹1,057.35 Cr | ₹798.82 Cr | ₹699.22 Cr | ₹847.38 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹8.23 Cr | -₹36.25 Cr | ₹45.53 Cr | -₹69.62 Cr |
| Employee Benefit Expense | ₹48.62 Cr | ₹37.09 Cr | ₹40.82 Cr | ₹35.41 Cr |
| Finance Costs | ₹56.55 Cr | ₹40.17 Cr | ₹31.58 Cr | ₹32.26 Cr |
| Depreciation & Amortisation | ₹57.11 Cr | ₹36.52 Cr | ₹34.88 Cr | ₹33.5 Cr |
| Other Expenses | ₹120.56 Cr | ₹101.39 Cr | ₹89.32 Cr | ₹78.22 Cr |
| Total Expenses | ₹1,331.96 Cr | ₹977.73 Cr | ₹941.35 Cr | ₹957.16 Cr |
| Profit Before Exceptional Items & Tax | ₹139.05 Cr | ₹148.45 Cr | ₹184.46 Cr | ₹180.62 Cr |
| Exceptional Items | ₹0 | -₹5.62 Cr | ₹0 | ₹0 |
| Profit Before Tax | ₹139.05 Cr | ₹142.83 Cr | ₹184.46 Cr | ₹180.62 Cr |
| Total Tax Expense | ₹28.63 Cr | ₹44.69 Cr | ₹55.97 Cr | ₹47.26 Cr |
| Net Profit | ₹110.42 Cr | ₹98.15 Cr | ₹128.49 Cr | ₹133.36 Cr |
| attributable to Owners | - | ₹97.97 Cr | ₹0 | - |
| attributable to NCI | - | - | ₹0 | - |
| Other Comprehensive Income | ₹2.53 Cr | -₹17.5 Lakh | ₹5.03 Cr | -₹9.8 Lakh |
| Total Comprehensive Income | ₹112.95 Cr | ₹97.97 Cr | ₹133.52 Cr | ₹133.27 Cr |
| EBITDA (computed) | ₹252.71 Cr | ₹225.13 Cr | ₹250.92 Cr | ₹246.39 Cr |
| Basic EPS | ₹3.05 | ₹2.71 | ₹3.83 | ₹4.21 |
| Diluted EPS | ₹3.03 | ₹2.70 | ₹3.82 | ₹4.20 |
| Metrics | FY 2026 |
|---|---|
| Revenue from Operations | ₹4,803.43 Cr |
| Other Income | ₹58.43 Cr |
| Total Income | ₹4,861.87 Cr |
| Cost of Materials Consumed | ₹3,395.98 Cr |
| Purchases of Stock-in-Trade | ₹0 |
| Changes in Inventories | -₹60.81 Cr |
| Employee Benefit Expense | ₹155.96 Cr |
| Finance Costs | ₹160.4 Cr |
| Depreciation & Amortisation | ₹161.99 Cr |
| Other Expenses | ₹396.24 Cr |
| Total Expenses | ₹4,209.76 Cr |
| Profit Before Exceptional Items & Tax | ₹652.11 Cr |
| Exceptional Items | -₹5.62 Cr |
| Profit Before Tax | ₹646.49 Cr |
| Total Tax Expense | ₹177.43 Cr |
| Net Profit | ₹469.06 Cr |
| Other Comprehensive Income | -₹1.44 Cr |
| Total Comprehensive Income | ₹467.62 Cr |
| EBITDA (computed) | ₹974.5 Cr |
| Basic EPS | ₹13.65 |
| Diluted EPS | ₹13.56 |
| Metrics | FY 2026 |
|---|---|
| Total Assets | ₹5,635.77 Cr |
| Non-current Assets | ₹2,260.57 Cr |
| Current Assets | ₹3,375.2 Cr |
| Property, Plant & Equipment | ₹539.88 Cr |
| Inventories | ₹815.27 Cr |
| Trade Receivables | ₹1,214.01 Cr |
| Cash & Equivalents | ₹9.91 Cr |
| Equity (Net Worth) | ₹3,172.93 Cr |
| Equity Share Capital | ₹362.33 Cr |
| Borrowings (Non-current) | ₹0 |
| Borrowings (Current) | ₹100.07 Cr |
| Total Debt (computed) | ₹100.07 Cr |
| Current Liabilities | ₹1,902.1 Cr |
| Total Liabilities | ₹2,462.84 Cr |
| Metrics | FY 2026 |
|---|---|
| Operating Cash Flow | ₹666.94 Cr |
| Investing Cash Flow | -₹1,807.76 Cr |
| Financing Cash Flow | ₹1,120.05 Cr |
| Capital Expenditure | ₹283.09 Cr |
| Free Cash Flow (computed) | ₹383.85 Cr |
| Dividends Paid | ₹0 |
| Net Change in Cash | -₹20.77 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 |
|---|---|---|---|---|
| Revenue from Operations | ₹1,452.6 Cr | ₹1,105.77 Cr | ₹1,109.91 Cr | ₹1,135.16 Cr |
| Other Income | ₹18.37 Cr | ₹20.06 Cr | ₹15.76 Cr | ₹4.24 Cr |
| Total Income | ₹1,470.97 Cr | ₹1,125.83 Cr | ₹1,125.67 Cr | ₹1,139.4 Cr |
| Cost of Materials Consumed | ₹1,050.74 Cr | ₹798.64 Cr | ₹699.22 Cr | ₹847.38 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹2.07 Cr | -₹36.25 Cr | ₹45.53 Cr | -₹68.03 Cr |
| Employee Benefit Expense | ₹46.8 Cr | ₹35.34 Cr | ₹39.31 Cr | ₹34.5 Cr |
| Finance Costs | ₹56.48 Cr | ₹40.13 Cr | ₹31.55 Cr | ₹32.25 Cr |
| Depreciation & Amortisation | ₹57.1 Cr | ₹36.51 Cr | ₹34.88 Cr | ₹33.5 Cr |
| Other Expenses | ₹122.61 Cr | ₹104.67 Cr | ₹91.45 Cr | ₹77.51 Cr |
| Total Expenses | ₹1,331.67 Cr | ₹979.04 Cr | ₹941.94 Cr | ₹957.11 Cr |
| Profit Before Exceptional Items & Tax | ₹139.3 Cr | ₹146.79 Cr | ₹183.73 Cr | ₹182.3 Cr |
| Exceptional Items | ₹0 | -₹5.62 Cr | ₹0 | ₹0 |
| Profit Before Tax | ₹139.3 Cr | ₹141.17 Cr | ₹183.73 Cr | ₹182.3 Cr |
| Total Tax Expense | ₹29.33 Cr | ₹44.74 Cr | ₹55.49 Cr | ₹47.88 Cr |
| Net Profit | ₹109.97 Cr | ₹96.44 Cr | ₹128.24 Cr | ₹134.42 Cr |
| Other Comprehensive Income | -₹1.51 Cr | ₹36.2 Lakh | ₹1.05 Cr | -₹1.34 Cr |
| Total Comprehensive Income | ₹108.46 Cr | ₹96.8 Cr | ₹129.29 Cr | ₹133.07 Cr |
| EBITDA (computed) | ₹252.88 Cr | ₹223.43 Cr | ₹250.16 Cr | ₹248.04 Cr |
| Basic EPS | ₹3.04 | ₹2.66 | ₹3.83 | ₹4.24 |
| Diluted EPS | ₹3.02 | ₹2.66 | ₹3.81 | ₹4.23 |
Board & Governance of Vikram Solar Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Vikram Solar Limited has 8 directors - 4 independent and 3 executive. The board is chaired by Gyanesh Chaudhary.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| Gyanesh Chaudhary | Executive Director · MD · Chairperson | 2008-07-14 | 1 |
| Krishna Kumar Maskara | Executive Director | 2009-01-01 | 1 |
| Neha Agrawal | Executive Director | 2021-03-22 | 1 |
| Subramanya Krishanappa | Non-Executive - Independent Director | 2023-02-15 | 1 |
| Ratnabali Kakkar | Non-Executive - Independent Director | 2021-12-12 | 3 |
| Sumit Binani | Non-Executive - Independent Director | 2024-09-27 | 1 |
| Joginder Pal Dua | Non-Executive - Independent Director | 2025-12-01 | 3 |
| Suresh Gopinathan Menon | Non-Executive - Non Independent Director | 2025-12-01 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | Subramanya Krishanappa (Chairperson), Sumit Binani, Krishna Kumar Maskara |
| Nomination and remuneration committee | Ratnabali Kakkar (Chairperson), Subramanya Krishanappa, Joginder Pal Dua, Suresh Gopinathan Menon |
| Stakeholders Relationship Committee | Sumit Binani (Chairperson), Gyanesh Chaudhary, Krishna Kumar Maskara |
| Risk Management Committee | Gyanesh Chaudhary (Chairperson), Krishna Kumar Maskara, Joginder Pal Dua, Suresh Gopinathan Menon |
| Corporate Social Responsibility Committee | Subramanya Krishanappa (Chairperson), Ratnabali Kakkar, Gyanesh Chaudhary, Neha Agrawal |
Charges & Borrowings of Vikram Solar Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 11 Feb 2026 | Sbicap Trustee Company Limited | ₹3,200 Cr | Open |
| 17 Feb 2017 | Indian Bank | ₹2,617.94 Cr | Open |
| 11 Mar 2011 | Indian Bank | ₹2,600 Cr | Open |
| 05 Mar 2024 | Others | ₹26.5 Cr | Satisfied |
| 27 Mar 2022 | Others | ₹50 Cr | Satisfied |
Total charge records: 33 View all charges
Employees and EPFO Compliance at Vikram Solar Limited
View historical data on people associated with Vikram Solar Limited, including employment history and EPFO contributions.
Employee Count & EPFO Data of Vikram Solar Limited
Access employee headcount trends, monthly PF payment records, EPFO establishment details, and compliance data.
GST Compliance of Vikram Solar Limited
GSTIN & GST Filing Data of Vikram Solar Limited
Access GSTIN registrations, state-wise filing compliance, HSN/SAC codes, and detailed goods & services data.
Credit Ratings, Litigation & Regulatory Alerts for Vikram Solar Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Vikram Solar Limited
Access complete credit rating history, litigation records, regulatory alerts, and compliance data.
MSME Payment Delays by Vikram Solar Limited
MSME Payment Delays by Vikram Solar Limited
Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.
Subsidiaries & Group Companies of Vikram Solar Limited
Subsidiaries & Group Companies of Vikram Solar Limited
See the full corporate group - holding company, subsidiaries, associates and joint ventures of Vikram Solar Limited with ownership details.
MCA Filings & Documents of Vikram Solar Limited
MCA Filings & Documents of Vikram Solar Limited
Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.
Recent Activity on Vikram Solar Limited
Recent News on Vikram Solar Limited
Frequently Asked Questions about Vikram Solar Limited
Vikram Solar Limited is an active public limited company in the energy and power sector based in Kolkata, West Bengal, India. It was incorporated on 02 December 2005 (21+ years old) and is registered under CIN L18100WB2005PLC106448. The company has 1,454 employees.
Vikram Solar Limited reported revenue of ₹3,459.53 Cr for FY 2025 (up 37.00% YoY).
The current directors of Vikram Solar Limited are:
- Joginder Pal Dua
- Ratnabali Kakkar
- Gyanesh Chaudhary
- Neha Agrawal
- Subramanya Krishnappa
- Krishna Kumar Maskara
- Suresh Gopinathan Menon
- Sumit Binani
- Ranjan Kumar Jindal
- Sudipta Bhowal
The primary industry of Vikram Solar Limited is energy and power. The company specifically operates in bop and btg services. The company is currently active in this sector.
Yes, Vikram Solar Limited is a listed company.
Vikram Solar Limited can be reached at the registered office: Biowonder Unit No. 1102 11Th Floor 789 Anandapur Main Road, Eastern Metropolitan Bypass, Kolkata, West Bengal, India – 700107, or through the website vikramsolar.com.