Which companies are Vikram Solar's closest peers?

The cockpit's peer set: QD Laser (6613.T), Jiangsu Rijiu Optoelectronics Jointstock (003015.SZ), TFE (425420.KS), Suzhou Convert Semiconductor (688693.SS), Brite Semiconductor (Shanghai) (688691.SS), JinkoSolar Holding Co., Ltd. Sponsored ADR (JKS), Yingkou Jinchen Machinery (603396.SS), Black Sesame International (2533.HK).

Is Vikram Solar expensive compared with its peers?

On forward p/e it trades at 14.0× against a peer median of 18.2×, 2nd cheapest of 6 in its peer set.

How has Vikram Solar stock performed?

Over six months to 6 Nov 2026 the shares returned -36.8% against -42.6% for the median peer; over one year -56.8%.

← CockpitCompetitor Analysis › VIKRAMSOLR.NS Vikram Solar LimitedOpen in the cockpit ↗

Vikram Solar LimitedVIKRAMSOLR.NSCompetitor analysis, valuation and peers

India · INR·IT›Semiconductors

Momentum laggard 9

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$546M

US dollars, full cap

Free float

30%

of shares outstanding

$/day

$2.60M

20-day average traded

Fwd P/E

14.0×

forward earnings

ROIC−WACC

+4.5 pp

WACC 9.9%

Hurdle

n/a

no reverse DCF

Next earnings

26 days

2 Dec 2026

Close · INR₹142.39

1D+1.9%

1W+13.7%

1M-4.4%

3M-18.1%

6M-36.8%

YTD-40.2%

1Y-56.8%

ATR %4.0%

Beta1.21

52w lowhigh57.2% off high

What Vikram Solar does

Employees: 2,946

Vikram Solar at a glance

Size Vikram Solar (VIKRAMSOLR.NS) is an India Information Technology company (Semiconductors) with a market value of $546M, the 810th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹142.39 on 6 Nov 2026.

Performance Over six months the shares fell 36.8%, against -42.6% for the median peer and 0.0% for the India market (cap-weighted) — 9th highest of 21 in its peer set.

Growth Revenue grew 40.3% over the last twelve months (peer median +23.6%); the operating margin is 11.6% (peer median -2.9%).

Valuation It trades at 14.0× forward earnings against a peer median of 18.2× (2nd cheapest of 6).

Capital Return on invested capital runs 4.5 points above its cost of capital (9.9% WACC).

Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Vikram Solar against the median of its 20 peers (local-currency closes).

Vikram Solar financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹52.3B	₹48.0B	₹34.2B	₹25.1B	₹20.7B
Revenue growth	—	+40%	+36%	+21%	—
Gross profit	₹10.3B	₹10.4B	₹5.35B	₹5.35B	₹2.75B
EBITDA	₹8.00B	₹9.56B	₹4.98B	₹4.10B	₹2.09B
Net income	₹3.57B	₹4.70B	₹1.40B	₹797M	₹145M
Free cash flow	n/a	-₹2.01B	₹30.9M	-₹521M	-₹538M
Capital expenditure	n/a	₹7.22B	₹1.33B	₹716M	₹1.31B
Total debt	n/a	₹6.45B	₹2.72B	₹8.54B	₹7.92B

Quarterly statements and history in the cockpit →

Vikram Solar competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Vikram Solar is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Vikram Solar is the large dot.

Vikram Solar competitors and peer comparison

How Vikram Solar compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Vikram Solar against its 20 peers (data as of 6 Nov 2026)
Measure	VIKRAMSOLR.NS	Peer median	Rank in peer set
1-month return	-4.4%	-23.8%	4th highest of 21
6-month return	-36.8%	-42.6%	9th highest of 21
Distance from 52-week high	-57.2%	-56.5%	10th lowest of 21
Revenue growth (TTM)	+40.3%	+23.6%	7th highest of 21
Operating margin	11.6%	-2.9%	5th highest of 21
Forward P/E	14.0×	18.2×	2nd cheapest of 6
ROIC minus cost of capital	+4.5 pp	-8.2 pp	3rd highest of 21
EV / EBITDA	6.4×	17.7×	cheapest of 5
Net debt / EBITDA	-0.8×	-0.1×	3rd least indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Vikram Solar VIKRAMSOLR.NS	India	$546M	-37%	+40%	12%	14.0×	n/a	n/a
QD Laser 6613.T	Japan	$546M	+43%	+7%	-19%	184.9×	n/a	n/a
Jiangsu Rijiu Optoelectronics Jointstock 003015.SZ	China	$548M	-22%	+5%	12%	n/a	15.8%	+5.3%
TFE 425420.KS	South Korea	$544M	-8%	+54%	17%	n/a	7.4%	+15.5%
Suzhou Convert Semiconductor 688693.SS	China	$543M	-48%	+49%	-34%	n/a	n/a	n/a
Brite Semiconductor (Shanghai) 688691.SS	China	$542M	-59%	+27%	-18%	n/a	n/a	n/a
JinkoSolar Holding Co., Ltd. Sponsored ADR JKS	United States	$551M	-55%	-15%	-8%	n/a	n/a	n/a
Yingkou Jinchen Machinery 603396.SS	China	$555M	-24%	-5%	5%	n/a	21.1%	+21.8%
Black Sesame International 2533.HK	Hong Kong	$555M	-66%	+73%	-148%	n/a	n/a	n/a
Advanced Wireless Semiconductor 8086.TWO	Taiwan	$537M	-41%	+36%	23%	18.2×	6.3%	+3.0%
Hubei W-Olf Photoelectric Technology 002962.SZ	China	$534M	-25%	+3%	1%	n/a	24.2%	+15.0%
Shenzhen China Micro Semicon 688380.SS	China	$532M	-39%	+40%	21%	n/a	6.0%	+24.3%
Shenzhen EXC-LED Technology 300889.SZ	China	$562M	-29%	+20%	-7%	n/a	n/a	n/a
Kopin KOPN	United States	$564M	-44%	-7%	-35%	n/a	n/a	n/a
Jiangsu Transimage Technology 002866.SZ	China	$567M	-49%	-5%	3%	n/a	12.9%	+4.2%
Taiwan Microloops 6831.TW	Taiwan	$569M	-46%	+117%	12%	15.8×	n/a	n/a
Inner Mongolia OJing Science and Technology 001269.SZ	China	$523M	-16%	-2%	-51%	47.7×	n/a	n/a
Hana Materials 166090.KS	South Korea	$521M	-51%	+31%	24%	11.0×	-2.6%	+6.4%
Silex Systems SLX.AX	Australia	$574M	-49%	+89%	-33%	n/a	43.3%	+48.1%
Walton Advanced Engineering 8110.TW	Taiwan	$520M	-32%	+11%	-19%	n/a	n/a	n/a
NSING Technologies 2701.HK	Hong Kong	$517M	-54%	+55%	1%	n/a	n/a	n/a

Questions

Which companies are Vikram Solar's closest peers?: The cockpit's peer set: QD Laser (6613.T), Jiangsu Rijiu Optoelectronics Jointstock (003015.SZ), TFE (425420.KS), Suzhou Convert Semiconductor (688693.SS), Brite Semiconductor (Shanghai) (688691.SS), JinkoSolar Holding Co., Ltd. Sponsored ADR (JKS), Yingkou Jinchen Machinery (603396.SS), Black Sesame International (2533.HK).
Is Vikram Solar expensive compared with its peers?: On forward p/e it trades at 14.0× against a peer median of 18.2×, 2nd cheapest of 6 in its peer set.
How has Vikram Solar stock performed?: Over six months to 6 Nov 2026 the shares returned -36.8% against -42.6% for the median peer; over one year -56.8%.