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Indosolar Limited

Indosolar Limited

INDOSOLAR.NS
Indosolar LimitedIN flagNational Stock Exchange of India
330.00
INR
- -
- -
14.03BMarket Cap
Indosolar Limited
INDOSOLAR.NS
(National Stock Exchange of India)

Recent

price

330.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
1,974.74
274.43
158.84
46.75
856.74
719.52
1,234.88
853.61
35.54
- -
- -
- -
- -
- -
77.87
- -
124.48
Revenue per Share
-208.74
-603.81
-369.66
-408.64
-226.27
-394.47
-161.76
-443.89
-1,411
-22
-21
-328.75
259.87
-3.71
13.17
- -
42.44
Basic EPS, GAAP
-607.63
-939.87
-312.31
-87.21
1.51
-5.85
89.8
46.83
24.37
-1.43
-1.64
-1.3
-3.45
4.4
20.45
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
717.57
-14.64
-355.95
-764.59
-902.8
-1,328.69
-1,490.77
-1,860.99
-3,245.57
981.3
982.81
1,000
10
10
10
- -
- -
Book Value per Share
1,498.13
626.32
285.08
-123.49
-280.84
-699.87
-861.67
-1,244.98
-2,638.14
-2,610.82
-2,635.73
-3,010.46
0.26
-3.46
9.71
- -
- -
Tangible Book Value per Share
3
3
3
3
3
4
4
4
4
4
4
4
42
42
42
- -
42
Basic Weighted Avg Shares
5,434
920
532
157
2,960
2,577
4,422
3,131
132
- -
- -
- -
- -
- -
3,239
6,798
5,178
Sales/Revenue/Turnover
-14.82
-160.28
-128.02
-374.16
7.09
-5.55
10.28
-15.33
-369.01
- -
- -
- -
- -
- -
20.91
34.42
23.78
Operating Margin (%)
518
342
391
302
270
266
291
281
241
71
71
71
43
46
273
367
357
Depreciation Expense
-574
-2,024
-1,239
-1,370
-782
-1,413
-579
-1,628
-5,250
-83
-80
-1,223
10,812
-154
548
2,466
1,766
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.02
- -
0.01
- -
0.04
Effective Tax Rate (%)
-10.57
-220.02
-232.73
-874.07
-26.41
-54.82
-13.1
-52
-3,970.27
- -
- -
- -
- -
- -
16.91
36.27
34.1
Profit Margin (%)
-599
-226
-713
-3,496
-5,546
-8,036
-13,349
-8,511
-12,145
-12,145
-12,154
-12,229
-476
-196
-270
2,028
- -
Working Capital
2,759
7,331
8,448
7,293
5,978
4,842
47
3,044
58
58
58
58
103
1,015
379
30
- -
LT Debt
4,123
2,100
956
-414
-970
-2,411
-2,990
-4,565
-9,815
-9,898
-9,978
-11,201
11
-144
404
2,870
- -
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5.51
- -
76.17
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
165.74
- -
58.36
- -
64.42
Return on Capital (%)
-28.31
- -
- -
- -
- -
- -
- -
- -
- -
- -
-2.14
-32.88
522.72
-37.12
131.68
592.73
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
121
- -
LT Borrowings
- -
350
- -
LT Finance Leases
- -
29
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
42
- -
Market Capitalization
- -
- -
- -

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
1,171
- -
Cash, Cash Equivalents & STI
- -
173
- -
Accounts Receivable, Net
- -
47
- -
Inventories
- -
744
- -
Total Current Liabilities
- -
1,441
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
121
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-110.1%
-258.88%
610.15%
Free Cash Flow
114.81%
593.8%
-7.86%
Net Income, GAAP
49.01%
49.73%
350.15%
Sales/Revenue/Turnover
- -
- -
109.89%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
281
1,030
1,920
3,239
2026
1,947
1,995
831
- -
6,798

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.58
-0.77
-1.21
- -
-3.71
2025
-1.2
2.28
2.46
9.63
13.17
2026
28.07
9.97
10.09
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Indosolar Limited operates as an Indian manufacturer of solar photovoltaic (PV) cells and modules, specializing in poly-crystalline and advanced N-Type crystalline silicon PV cells. The company manufactures high-quality solar modules using M10R and G12 formats with a manufacturing capacity of 1.3 gigawatts at its state-of-the-art facility in Noida, India. Its core product offerings include poly-crystalline solar PV cells primarily marketed under the Sona series, mono-crystalline solar PV cells under the Sapphire series, and premium N-Type solar modules designed for residential, commercial, and utility-scale solar power applications. Indosolar targets both domestic and international markets, distributing to module manufacturers, system integrators, and end users across India, Europe, Japan, Asia, Canada, and the USA. The company operates as a member of the Waaree Group, India’s largest solar module manufacturer, leveraging group synergies in solar manufacturing technology and innovation. Founded in 2005 and headquartered in Noida, Uttar Pradesh, Indosolar has undergone significant growth and strategic transformation recently. Notably, it was acquired by Waaree Energies, which integrated Indosolar into its solar manufacturing capacity expansion, leading to the launch of the 1.3 GW solar module manufacturing facility. In 2024 and 2025, Indosolar achieved profitability after this acquisition, supported by new leadership appointments including a CEO and CFO installed by Waaree Energies. The company is committed to technological advancement in N-Type solar module production, emphasizing reliability, affordability, and innovation. Indosolar's recent corporate developments also include changes in director appointments and governance strengthening measures while continuing to expand its vertical integration in solar PV manufacturing. This strategic direction aims to position Indosolar as a key player in the global energy transition toward clean and sustainable solar solutions.