Promoter holding
64.27%
VS
Vikram Solar Limited - Due diligence report
A 360° intelligence report on Vikram Solar: trust score, financial health, credit view, compliance, directors, growth and distress signals -…
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Vikram Solar — 360° Intelligence Report
Generated from MCA filings & public records83/100
Trust Score
Low Risk
Vikram Solar is assessed as Low Risk with a Trust Score of 83/100. Vikram Solar is an active public limited indian non-government company incorporated in 2005, operating in the Energy and Power sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and low financial risk profile.
Report generated on 14 Jul 2026 from the latest processed filings. Vikram Solar Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreLow Risk
83/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
62/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
90/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
80/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 80/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- Open charges exceed net worth - secured lenders rank ahead.
- Working-capital cover adequate.
- Profitable - internal accruals available.
- Externally credit-rated (BBB).
Charges position: 3 open (8,417.94 cr) · 30 satisfied (3,624.71 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Indian Bank | 5 | 48.0 cr |
| Sbicap Trustee Company Limited | 1 | 48.0 cr |
| Others | 11 | 48.0 cr |
| State Bank Of India | 2 | 48.0 cr |
| Punjab National Bank | 2 | 48.0 cr |
| Canara Bank | 3 | 48.0 cr |
Compliance Score: 62/100 Moderate
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Litigation present in 4 court forum(s).
- 5 auditor resignation(s) filed - latest: SINGHI & CO. on 2023-03-24.
- Delayed payments to MSME suppliers disclosed (127 disclosure(s)).
- 18 active GST registration(s).
Legal cases on record (4)
05
Director Intelligence
Stability score: 90/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| JOGINDER PAL DUA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RATNABALI KAKKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| GYANESH CHAUDHARY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NEHA AGRAWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUBRAMANYA KRISHNAPPA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KRISHNA KUMAR MASKARA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SURESH GOPINATHAN MENON | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUMIT BINANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ranjan Kumar Jindal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Sudipta Bhowal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 10 directors on the board.
- No disqualified or deactivated DINs.
- 2 director exit(s) in the last 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2025)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2025 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
6 allotment(s) · 4 transfer(s)
Promoters hold a majority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Vikram Solar Cleantech Private Limited | Subsidiary Company | 74.00% |
| Vikram Solar Gmbh | Subsidiary Company | 74.00% |
| Vikram Solar Pte. Limited | Subsidiary Company | 74.00% |
| Vikram Solar Us Inc. | Subsidiary Company | 74.00% |
| Vikram Solar Foundation | Subsidiary Company | 74.00% |
| Vsl Green Power Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: GYANESH CHAUDHARY (Managing Director) · NEHA AGRAWAL (Whole-time director) · KRISHNA KUMAR MASKARA (Whole-time director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 95 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Profit expanded 24% year-on-year.
Net margin improved to 0.86.
EPFO headcount growing - hiring signal.
Operating for 20+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
3 open charge(s) registered - assets are encumbered.
5 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 8.15 cr.
4 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence77/100
Favourable indicators
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- No distress signals on file.
- Financial filings available for verification.
Banker assessment78/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 3 open charge(s) of 8,417.94 cr already registered.
- Compliance gaps should be priced into terms.
Investor view90/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 5 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events11 Feb 2026
Charge created
Sbicap Trustee Company Limited - 3,200.00 cr
21 Jan 2026
Charge satisfied
Others
01 Dec 2025
Director appointed
JOGINDER PAL DUA (Additional Director)
Director appointed
SURESH GOPINATHAN MENON (Additional Director)
Charge satisfied
Indian Bank
16 Oct 2025
Charge satisfied
Canara Bank
15 Oct 2025
Charge satisfied
Others
30 Sep 2025
Charge satisfied
United Bank Of India
25 Sep 2025
Last AGM held
Annual general meeting
24 Sep 2025
Director ceased
SUMIT BINANI
31 Mar 2025
Latest balance sheet
Filed with ROC
29 Mar 2025
Director appointed
Ranjan Kumar Jindal (Cfo)
19 Mar 2025
Director ceased
NARAYAN LODHA
27 Sep 2024
Director appointed
SUMIT BINANI (Director)
05 Mar 2024
Charge created
Others - 26.50 cr
10
Key Observations
Auto-generated from the data aboveRevenue grew 61% over the last 4 financial year(s).
Net profit margin moved from 38% to 1.42.
Debt-to-equity stands at 2.1x - leverage worth monitoring.
Net worth is positive.
10 active director(s) / partner(s); board looks stable and experienced.
18 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of BBB from Icra.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority stake as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 6 security allotment(s) - amounts available in the full report.
5 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Shriram Pistons & Rings | L29112DL1963PLC004084 | New Delhi, Delhi, India |
| Metso India Private Limited | U74899DL1992FTC050834 | New Delhi, Delhi, India |
| Lumaxworld | L74899DL1981PLC012804 | New Delhi, Delhi, India |
| Action Construction Equipment | L74899HR1995PLC053860 | Palwal, Haryana, India |
| Te | U31909KA1993FTC015007 | Bangalore, Karnataka, India |
| Inox Wind | L31901HP2009PLC031083 | Village Basal, Himachal Pradesh, India |
| Ram Ratna Wires | L31300MH1992PLC067802 | Mumbai, Maharashtra, India |
| Loyal Equipments | L29190GJ2007PLC050607 | Dahegam, Gujarat, India |
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Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Vikram Solar before audits and certifications: compliance score 62/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Vikram Solar: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 80/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 95/100, margin trends, ownership structure and peer set for Vikram Solar - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Favourable indicators. Trust score 83/100, distress signals and MSME payment-delay disclosures - know whether Vikram Solar pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (4 case(s) on record), regulatory flags, charge documents trail and director networks for Vikram Solar - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Vikram Solar an active company?
Vikram Solar has MCA status “Active” with a compliance score of 62/100 (Moderate).
Is Vikram Solar financially healthy?
Vikram Solar has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.
Should I do business with Vikram Solar?
Its overall Trust Score is 83/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Vikram Solar?
Promoters hold a majority stake - exact percentages are in the full report. 10 active director(s) are on record.
Does Vikram Solar have loans or charges against its assets?
3 open charge(s) are registered against its assets, and 30 earlier charge(s) stand satisfied.
Is Vikram Solar up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 62/100 (Moderate).
Is it risky to lend to Vikram Solar?
Its Credit Risk Score is 80/100 (Low Risk). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
