Arthneeti

Vikram Thermo (India) Share Price & Earnings Call Analysis

₹373.25-3.64% today
Market cap
₹1,170 Cr
P/E
26.70
ROE
27.36%
PEG
0.86
Price to sales
8.11
Debt to equity
0.03
52W high / low
₹436 / ₹136
Sales growth (5Y)
12.75%
EBITDA margin
41.99%
Net profit margin
28.39%
Promoter holding
66.01%
Sales (last year)
₹144 Cr

Incorporated in 1985, Vikram Thermo Ltd manufactures and sells basic pharma co-polymers[1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Vikram Thermo rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹234 Cr3.0
240%+Flat₹3,888 Cr48.5
340%+Flat₹3,514 Cr4.3
440%+Flat₹180 Cr11.9
540%+Flat₹138 Cr15.1
620–40%Up 2%+₹1.70L Cr85.4

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Financials of Vikram Thermo

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Vikram Thermo

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +30.2921.7033.8424.3527.3931.1533.6634.3227.1128.6034.6434.0237.77
Expenses +24.0813.3621.7414.9319.9119.5921.1820.9720.4417.2919.1518.8925.81
Operating Profit6.218.3412.109.427.4811.5612.4813.356.6711.3115.4915.1311.96
OPM %20.50%38.43%35.76%38.69%27.31%37.11%37.08%38.90%24.60%39.55%44.72%44.47%31.67%
Other Income +0.380.340.220.23-0.26-23.62-0.08-0.501.040.170.220.460.93
Interest0.310.370.260.280.190.190.180.420.160.120.090.130.11
Depreciation0.800.590.870.620.620.620.640.640.630.700.740.760.76
Profit before tax5.487.7211.198.756.41-12.8711.5811.796.9210.6614.8814.7012.02
Tax %28.65%25.52%26.18%26.51%23.09%23.08%15.54%23.41%41.33%25.42%25.47%25.44%29.03%
Net Profit +3.915.768.256.444.93-15.839.799.024.077.9411.0810.968.52
EPS in Rs1.251.832.632.051.57-5.043.122.871.302.533.533.492.71

Financials of Vikram Thermo

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3738454958567493112101126134
Expenses +323137444944557885648280
Operating Profit5885912181526374554
OPM %15%20%19%10%15%21%25%16%23%37%35%40%
Other Income +0000000110-232
Interest000111111110
Depreciation111222233233
Profit before tax567369161223341852
Tax %34%34%35%25%28%23%25%26%27%25%56%26%
Net Profit +3452471291725838
EPS in Rs1.111.511.680.841.582.303.832.765.398.082.5812.26
Dividend Payout %13%20%20%12%19%13%8%2%9%9%39%10%

Financials of Vikram Thermo

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital6666666631313131
Reserves2327323337485967588290126
Borrowings +41612146101519765
Other Liabilities +88109913161619221826
Total Liabilities41415360667392104127143146188
Fixed Assets +101721303434325361614557
CWIP9174061800100
Investments00000110111115020
Other Assets +22222526323232405565101110
Total Assets41415360667392104127143146188

Financials of Vikram Thermo

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +226341315613232452
Cash from Investing Activity +-3-1-10-8-2-10-19-7-13-9-22-41
Cash from Financing Activity +1-4441-4331-14-4-5
Net Cash Flow-0-2-0-03-1-112-0-35
Free Cash Flow-21-5-4244-1017-1642
CFO/OP52%48%93%86%56%129%102%63%71%86%81%119%

Financials of Vikram Thermo

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1311391151391381299993109142128125
Inventory Days6464986053979474641377687
Days Payable8481102705210792626911974104
Cash Conversion Cycle111123111128139119101106104160130108
Working Capital Days841451198284102626861129122144
ROCE %16%20%19%8%14%17%24%15%25%31%35%36%
98out of 100

Momentum score · price trend

98 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+134.1%96%
Last 6 months+157.4%99%
Last 3 months+58.1%99%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Vikram Thermo: 0.4 × 96 + 0.4 × 99 + 0.2 × 99 = 98.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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