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×

vikram solar Limited

55.50
-0.89 %
Scrip Name
VIKRAM SOLAR
ISIN No.
INE078V01014
PAN No.
AABCI5168D
Face Value
10
No. of Outstanding Shares
258,830,000
Market Capitalization
1,436.51 Crore

VIKRAM SOLAR LIMITED PRE IPO/ UNLISTED SHARE   


Established on 02 December 2005 Vikram Solar Limited is a Public Limited Company and the company module manufacturing capacity annually of 2.5 GW. It is the second-largest solar energy company in India in terms of revenue. It is registered at the registrar of companies in Kolkata, West Bengal as a non-government company. Authorized equity share capital is Rs. 4,00,00,00,000 and its paid-up share capital is Rs. 2,58,83,00,000. It is involved in the business of manufacturing solar PV modules, but it also provides engineering, procurement, and construction services, as well as solar power plant operations and maintenance.


In addition to the United States, it supplied solar modules in Belgium, Bhutan, Canada, Denmark, Germany, Ghana, Nepal, the Netherlands, New Zealand, Poland, and Saudi Arabia in fiscal 2020-21.


INCORPORATION DETAILS

CIN

U18100WB2005PLC106448

Registration Date

02 December 2005

Company Name

VIKRAM SOLAR LIMITED

Email Address

secretarial@vikramsolar.com

Category/Sub-category of the Company

Company Limited by Shares/Non-Government Company

Class of Company

Public Company

Registration Number

106448

Address of the Registered office & contact details

‘The Chambers’, 8th Floor, 1865, Rajdanga Main Road, Kolkata- 700 107, West Bengal

Address and Contact details of Registrar Transfer Agent

Maheshwari Datamatics Private Limited 23, R. N. Mukherjee Road, 5th Floor, Kolkata- 700 001, West Bengal

Listing Status

Unlisted


PARTICULAR OF SUBSIDIARY COMPANIES

S. No.

Name of the Company

Subsidiary

% of shares held

1.

VP Utilities & Services Private Limited

Subsidiary

100%

2.

VSL Green Power Private Limited

Subsidiary

100%

3.

Vikram Solar RE Power Private Limited

Subsidiary

100%

4.

Vikram Solar Foundation

Subsidiary

100%

5.

Vikram Solar Cleantech (P) Ltd.

Subsidiary

100%

6.

Indriya Labs Pvt. Ltd.

Subsidiary

100%

7.

Vikram Solar GmbH

Subsidiary

100%

8.

Vikram Solar Pvt. Limited

Subsidiary

100%

9.

Vikram Solar Us Inc.

Subsidiary

100%


BOARD OF DIRECTORS

S. No.

Name of Directors

Category of Directors

1.

MR. H.K. CHAUDHARY

CHAIRMAN

2.

MR. J.P. DUA

INDEPENDENT DIRECTOR

3.

MR. PROBIR ROY

INDEPENDENT DIRECTOR

4.

MR. GYANESH CHAUDHARY

MANAGING DIRECTOR

5.

MR. VIKRAM SWARUP

INDEPENDENT DIRECTOR

6.

MR. K.K. MASKARA

WHOLE-TIME DIRECTOR

7.

MS. NEHA AGRAWAL

WHOLE-TIME DIRECTOR


Principal Business Activities of the Company

S. No.

Name & Description of main products/services

NIC Code of the Product /service

% to total turnover of the company

1

Sale of Solar PV Modules

35105

70.84%

2

Engineering, Procurement, and Construction (EPC)

42201

29.16%


TOTAL


100.00%

 

SHAREHOLDING PATTERN

(As on 31-03-2021)

S. No.

Shareholder’s Category

No. of Shares

% of total Shares of the company

1

Promoter and Promoters Group

2,40,91,92,500

93.08%

2

Public

6,91,90,000

2.67%

3

Non-Promoter Non-Public

10,99,17,500

4.25%

 

Total

2,58,83,00,000

100.00%

Industry Outlook

The Company Domestic demand was impacted by the general economic slowdown throughout the year. The unprecedented outbreak of COVID-19 and subsequent nationwide lockdown alleviated additional stress on the Company's business. Despite these challenges, the Company was able to post a healthy performance in Financial Year 2020-21.


The Company has installed and commissioned over 1358 MW of solar projects in India. It has an annual PV Module production capacity of 1.2 GW. In 2020, the Company received 5 awards for technical innovation and operational efficiencies at the 'PV Module Tech India 2020 Awards'.

In fiscal 2020-21, the Indian economy contracted by 7.3%. Services and industry were among the hardest hit by the pandemic, while agriculture grew by 3.6%. The Government of India and the Reserve Bank of India implemented a number of strategic measures to fortify the economy.


The Company has made significant strides in reducing climate change through the use of solar energy. It has worked tirelessly to reduce costs and meet customer demands in a rapidly changing environment.


PROFIT & LOSS STATEMENT OF VIKRAM SOLAR LIMITED

(Rs. in Million) 

(As of 31-03-2019 to 31-03-2021)

Particular

2021

2020

2019

INCOME




Revenue from operations

16,100.90

16,396.83

19,562.87

Other income

174.53

222.91

144.57

Total income

16,275.43

16,619.74

19,707.44

EXPENSES




Cost of material and services consumed

12,163.06

12,244.54

15,835.22

Changes in inventories of finished goods and work-in-progress

5.37

351.54

(224.78)

Employee benefits expense

870.64

924.58

841.16

Finance costs

994.70

949.65

914.16

Depreciation and amortization expense

388.26

367.75

279.65

Other expenses

1,290.73

1,477.46

1,471.70

Total expenses

15,712.76

16,315.52

19,117.11

Profit before tax

562.67

304.22

590.33

Income tax expense




Current tax

109.34

61.62

120.63

Deferred tax (net of MAT credit entitlement)

71.82

17.56

58.23

Total income tax expense

181.16

79.18

178.86

Profit for the year

381.51

225.04

411.47

Other comprehensive income




Items that will be reclassified to profit or loss and its related 

income tax effects:




Exchange difference on foreign operations

46.01

(63.46)

(36.63)

Re-measurement of gain / (losses) on defined benefit plans

1.81

0.38

(0.53)

Income tax effect

(0.60)

(0.14)

0.19

Total Other Comprehensive income, net of taxes

47.22

(63.22)

(36.97)

Total comprehensive income for the year

428.73

161.82

374.5

Earnings per share:




       Earnings per share (Basic)

16.70

8.06

14.73

       Earnings per share (Diluted)

16.70

8.06

14.73

 

BALANCE SHEET OF VIKRAM SOLAR LIMITED (Rs. in Million) 

(As of 31-03-2019 to 31-03-2021)

PARTICULARS

2021

2020

2019

ASSETS




Non-Current Assets




Property, plant, and equipment

3,203.39

3,328.84

3,228.31

right-of-use assets

469.56

77.44

-

Capital work-in-progress

660.59

109.12

99.18

Intangible assets

139.70

160.06

125.93

Intangible assets under development

4.88

-

19.25

Financial assets:




        Investments

-

-

1.72

        Loans

28.11

21.59

15.62

        Other financial assets

699.40

678.92

493.88

        Deferred tax asset (net)

2.11

1.91

1.84

        Other non-current assets

114.52

66.97

52.86

Total non-current assets

5,322.26

4,444.85

4,038.59

Current assets




Inventories

1,930.07

2,265.63

2,071.30

Financial assets:




         Trade receivables

6,433.08

5,318.53

5,388.72

        Cash and cash equivalents

85.87

316.78

151.96

        Bank balances other than above Cash and cash

equivalents

778.29

781.70

870.34

       Loans

197.49

54.14

23.17

       Other financial assets

1,969.90

1,806.93

1,138.05

Current tax assets (net)

7.92

198.77

161.02

Other current assets

537.00

576.56

494.18

Total current assets

11,939.62

11,319.04

10,298.74

TOTAL ASSETS

17,261.88

15,763.89

14,337.33

EQUITY AND LIABILITIES




Equity




Equity share capital

235.30

279.25

279.25

Other equity

3,908.42

3,339.05

3,198.36

Total equity

4,143.72

3,618.30

3,477.61

Liabilities




Non-current liabilities




Financial liabilities




        Borrowings

2,296.29

1,870.98

2,035.73

        Trade Payable

85.28

-

-

        Other financial liabilities

107.20

-

-

        Lease Liabilities

423.21

69.85

-

Provisions

70.40

56.40

48.12

Deferred tax liabilities (net)

183.71

110.93

104.52

Deferred income from grant

170.57

166.49

180.86

Other non-current liabilities

-

-

242.89

Total non-current liabilities

3,336.66

2,274.65

2,612.12

Current liabilities




Financial liabilities:




         Borrowings

3,327.50

3,072.90

3,555.97

         Lease Liabilities

84.67

39.26

-

         Trade payables:




- Total outstanding dues of micro-enterprises and small

enterprises

365.10

299.86

95.82

- Total outstanding dues of creditors other than micro-enterprises and small enterprises

4,605.33

4,652.24

3,861.96

         Other financial liabilities

1,034.70

425.60

465.72

Provisions

5.74

3.14

2.77

Current tax liabilities

-

21.10

5.05

Deferred income from grant

14.37

14.37

14.37

Other current liabilities

344.09

1,342.47

245.94

Total current liabilities

9,781.50

9,870.94

8,247.60

Total liabilities

13,118.16

12,145.59

10,859.72

Total equity and liabilities

17,261.88

15,763.89

14,337.33


DIVIDEND AND RETAINED EARNINGS

(As of 31-03-2019 to 31-03-2021)

Particulars

2021

2020

2019

Dividend

Nil

Nil

Nil

Retained Earnings (Rs. In Million)

3,185.92

2,866.93

2,827.34


PERFORMANCE OF THE COMPANY

Revenue from operations decreased from Rs. 16,396.83 Million in FY 2020 to Rs. 16,100.90 Million in FY 2021, showing a decline of 1.80% as compared to the previous financial year.


Finance Cost has increased from Rs. 949.65 Million in FY 2020 to Rs. 994.70 Million in FY 2021 showing a growth of 4.74% as compared to the previous financial year.


In FY 2021, Company’s Net profit stood at Rs. 381.51 Million, 69.52% higher than the net profit of Rs. 225.04 million in FY 2020 as compared to the previous financial year.


The current Ratio of the company as of 31st March 2021 was 1.22.

 

The debt to equity ratio of the company as of 31st March 2021 was 3.16.


In the Financial Year 2020-21, the company has not paid dividends.

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Annual Reports

2020-21

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2019-20

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2018-19

Download

Corporate Actions

March 23, 2022 VIKRAM SOLAR LIMITED DRHP

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