Indosolar
- Market cap
- ₹ 826 Cr.
- P/E
- 6.6x
- P/B
- 2.92x
- 52-week range
- 179.28 – 598.9
- ROE
- 151%
- ROCE
- 124%
- Dividend yield
- 0%
- Debt / equity
- 0.01
- Sector
- Electrical Equipment
- Industry
- Heavy Electrical Equipment
- Listed on
- NSE, BSE
About
Indosolar Limited is an India-based photovoltaic (PV) solar cell manufacturer, which is engaged in producing solar cell and modules. The Company provides PV modules for residential, commercial and utility-scale installations. The Company's super solar solutions include residential rooftop systems for home consumers; solar street lighting solutions; engineering, design and construction for grid- connected commercial and industrial solutions, and turnkey utility-scale installation services. Its PV module datasheets include IS - Datasheet Bi-55-520-550_00, IS-ELITE SERIES BiN-01-555-585 IS-EPD-555-585-108-BiN-HC-00, IS-ELITE SERIES BiN-02-615-650 IS-EPD-615-650-120-BiN-HC-00, IS-ELITE SERIES BiN-03-680-715 IS-EPD-680-715-132-BiN-HC-00, IS-ELITE SERIES BiN-05-415-445-IS-EPD-415-445-108-BiN-HC-00, IS-ELITE SERIES BiN-06-465-495 IS-EPD-465-495-120-BiN-HC-00, IS-ELITE SERIES BiN-07-515-545 IS-EPD-515-545-132-BiN-HC-00, IS-ELITE SERIES BiN-08-565-600-IS-EPD-565-600-144-BiN-HC-00, and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Heavy Electrical Equipment: 51 companies →Indosolar against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)6.6 against a typical 30.4: cheaper than most peers (1st = cheapest).2nd of 50
- Sales growth−23.2% against a typical +23.8% from a year earlier.38th of 41
- Profit growth−89.2% against a typical +24.6% from a year earlier.39th of 40
- Share price, 3 months−39.7% against a typical −8.7%.45th of 45
- Size₹ 826.4 Cr. market value against a typical ₹ 5,357.9 Cr. (1st = largest).34th of 47
Latest announcements
Exchange filings and their impact on the company.
- Q2 profit crashed 89% YoY on falling sales and surging costs, pointing to a much weaker next 12 months.
Indosolar reported weak Q2 FY27 results with revenue from operations of about Rs 155.6 crore versus Rs 202.5 crore a year ago and net profit of about Rs 5 crore versus Rs 46.3 crore. For the half year, revenue was about Rs 224 crore versus Rs 397 crore and net profit was about Rs 41.6 crore versus Rs 163.1 crore. The balance sheet turned inventory-heavy with inventories at Rs 222 crore and cash rising to Rs 81 crore, while the notes reiterate the September 23 board approval for amalgamation into Waaree Energies Limited.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 21 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 23 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 20 Apr 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 16 Jan 2026 | Financial Results | WAAREEINDO : 16-Jan-2026 : The Company has informed the Exchange that a Board meeting to be held on January 14, 2026 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on January 16, 2026, To consider and approve the financial results for the period ended December 31, 2025 |
| 14 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 10 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 28 | 103 | 192 | 195 | 203 | 200 | 83 | 68 | 156 |
| Expenses | 2 | 1 | 1 | 7 | 80 | 142 | 131 | 132 | 129 | 19 | 20 | 141 |
| Operating Profit | −2 | −1 | −1 | 22 | 23 | 50 | 64 | 71 | 71 | 64 | 48 | 15 |
| OPM % | — | — | — | 76.8% | 22.8% | 26.1% | 32.7% | 34.9% | 35.6% | 77.4% | 70.9% | 9.5% |
| Other Income | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 8 | 2 |
| Interest | 2 | 3 | 3 | 4 | 5 | 2 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 |
| Profit before tax | −5 | −5 | −5 | 9 | 10 | 40 | 55 | 61 | 62 | 56 | 47 | 7 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | −111.8% | 24.2% | 32.8% | 25.4% | 22.9% | 25.2% |
| Net Profit | −5 | −5 | −5 | 9 | 10 | 40 | 117 | 46 | 41 | 42 | 37 | 5 |
| EPS in Rs | −1.21 | −1.16 | −1.2 | 2.28 | 2.46 | 9.62 | 28.07 | 11.14 | 9.97 | 10.1 | 8.8 | 1.21 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 10%
- 5 Years
- —
- 3 Years
- —
- TTM
- −27%
- 10 Years
- 14%
- 5 Years
- 101%
- 3 Years
- 231%
- TTM
- −41%
- 10 Years
- 39%
- 5 Years
- 122%
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Indosolar | ₹ 187.60 | ₹ 826 Cr. | 6.6x | 2.9x | 151% | — |
| Premier Energies | ₹ 882.00 | ₹ 39,782 Cr. | 32.3x | 11.3x | 42.4% | 19.3% |
| Emmvee Photovoltaic Power | ₹ 237.80 | ₹ 16,430 Cr. | 20.1x | 6.5x | — | 22.8% |
| RRP Semiconductor | ₹ 8,044.35 | ₹ 10,960 Cr. | — | 1,378.8x | −59.8% | — |
| Vikram Solar | ₹ 127.85 | ₹ 4,633 Cr. | 14.1x | 2.2x | — | 9.8% |
| Saatvik Green Energy | ₹ 350.00 | ₹ 4,469 Cr. | 15.5x | 4.4x | 42.5% | 7.9% |
Management
- Bhushan Kumar Gupta
- Executive Chairman of the Board
- Jignesh Devchandbhai Rathod
- Chief Executive Officer, Director
- Abhishek Pareek
- Chief Financial Officer
- Akalpita Harnish Patel
- Compliance Officer, Company Secretary
- Hulas Rahul Gupta
- Managing Director, Executive Director
- Hitesh Chimanlal Doshi
- Managing Director
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