Vikram Solar Ltd. benchmarking: Performance to industry peers

Financial

	Vikram Solar	Waaree Energies	Premier Energies
Operational Metrics
Renewable
Manufacturing Capacity - Solar Panels	4500.0 MW	15000.0 MW	5100.0 MW
Unclassified
Order Book - Solar/ Solar Panels	10340.82 MW	28200.0 MW	n/a
Financials
5 yr Average ROE	8.47 %	21.43 %	15.91 %
5yr average Equity Multiplier	5.11	3.54	4.16
5yr Average Asset Turnover Ratio	0.94	1.09	0.76
5yr Avg Net Profit Margin	1.34 %	7.19 %	4.45 %
Price to Book	2.82	8.69	12.54
P/E	59.43	30.55	32.54
5yr Avg Cash Conversion Cycle	145.91 Days	27.12 Days	16.65 Days
Inventory Days	50.32 Days	70.85 Days	74.11 Days
Days Receivable	128.68 Days	27.24 Days	39.47 Days
Days Payable	76.39 Days	68.44 Days	109.41 Days
5yr Average Interest Coverage Ratio	1.41	9.51	3.3
5yr Avg ROCE	17.07 %	23.79 %	16.49 %
5yr Avg Operating Profit Margin	10.72 %	10.75 %	11.92 %
5 yr average Debt to Equity	1.5	0.54	1.48
5yr CAGR Net Profit	29.64 %	109.21 %	109.04 %
5yr Average Return on Assets	1.58 %	6.81 %	4.21 %
Shareholdings
Promoter Holding	63.01 %	64.19 %	63.94 %
Share Pledged by Promoters	6.77 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.11 %	-0.11 %	-0.31 %
Change in Mutual Fund Holding (3 Yrs)	0.83 %	1.8 %	5.24 %

	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 Engineering and service fees 0 solar accessories and silicon wafers 0 Generation of electricity from renewal 0.23 0 EPC and O&M 0 Sale of services 2.42 Solar cells 0 Sale Engineering, Procurement and Construction 10.5 Solar power products 86.38 Solar Modules Sales 0 Others 0.47	Product Wise Break-Up Engineering and service fees 0.11 solar accessories and silicon wafers 0.78 Generation of electricity from renewal 0 Construction and project related activity 3.28 EPC and O&M 0 Sale of services 0 Solar cells 25.87 0 Solar power products 0 Solar Modules Sales 0 Others 69.96
Location Wise Break-Up	Location Wise Break-Up India 84.0 US 16.0 Outside India 0	Location Wise Break-Up US 0 Outside India 16.72 India 83.28	Location Wise Break-Up US 0 Outside India 0.1 India 99.9
Customer Segment	Customer Segment Others 100	-	-