Vikram Solar Ltd.

Financial

	Vikram Solar	Waaree Energies	Premier Energies
Operational Metrics
Financials
5 yr Average ROE	4.89 %	20.29 %	14.56 %
5yr average Equity Multiplier	5.11	3.76	4.16
5yr Average Asset Turnover Ratio	0.94	1.37	0.76
5yr Avg Net Profit Margin	1.34 %	5.03 %	4.45 %
Price to Book	n/a	9.55	16.12
P/E	n/a	40.8	43.46
5yr Avg Cash Conversion Cycle	145.91 Days	44.77 Days	16.65 Days
Inventory Days	50.32 Days	63.79 Days	74.11 Days
Days Receivable	128.68 Days	20.56 Days	39.47 Days
Days Payable	76.39 Days	68.69 Days	109.41 Days
5yr Average Interest Coverage Ratio	1.41	6.47	3.3
5yr Avg ROCE	17.07 %	22.68 %	16.49 %
5yr Avg Operating Profit Margin	10.94 %	7.91 %	11.92 %
5 yr average Debt to Equity	1.5	0.6	1.48
5yr CAGR Net Profit	29.64 %	96.99 %	109.04 %
5yr Average Return on Assets	1.58 %	5.8 %	4.21 %
Shareholdings
Promoter Holding	n/a	64.3 %	64.25 %
Share Pledged by Promoters	n/a	0.0	0.0
Change in Promoter Holding (3 Yrs)	n/a	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	n/a	0.24 %	4.06 %

Business

	Vikram Solar	Waaree Energies	Premier Energies
Product Wise Break-Up	Product Wise Break-Up Solar Modules Sales 98.23 EPC and O&M 1.77 Solar power products 0 Sale of services 0 Generation of electricity from renewal 0 0 Engineering and service fees 0 0 solar accessories and silicon wafers 0 Solar cells 0	Product Wise Break-Up Generation of electricity from renewal 0.33 Engineering and service fees 0 Solar cells 0 Sale of services 3.63 Solar power products 89.39 0 Solar Modules Sales 0 Sale Engineering, Procurement and Construction 6.65 solar accessories and silicon wafers 0 EPC and O&M 0	Product Wise Break-Up Generation of electricity from renewal 0 Engineering and service fees 0.11 Solar cells 25.87 Sale of services 0 Solar power products 0 Construction and project related activity 3.28 Solar Modules Sales 0 0 solar accessories and silicon wafers 0.78 EPC and O&M 0 Others 69.96