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Indosolar share price & results

Indosolar Limited· Capital Goods· Industrials

Results to
Sept 2026
Ownership as of
Sept 2026

Noida-based solar PV module manufacturer and captive-manufacturing subsidiary of Waaree Energies.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue156 ₹ crore−23.2% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin9.5 %−25.4 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit5.0 ₹ crore−89.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity38.03 %+132.8 ptsFY Mar 2025 vs FY Mar 2022Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin7.81 %−12.2 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-26.82 %—Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Price

₹192.82 −2.73% · −₹5.41

Last close 26 Oct 2026 · NSE · INR · Source: Inve

Performance −70.0% 1Y

₹200₹300₹400₹500₹600Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26

1Y: ₹642.35 on 20 Oct 2025 → ₹192.82. High ₹642.35 (20 Oct 2025), low ₹192.82 (26 Oct 2026).

Previous close
₹198.23
Market cap
₹811 Cr
52-week range
₹192.82 – ₹610.25
One year
−68.40%
Price to earnings (TTM to Sept 2026)
6.48×
Return on equity (TTM to Sept 2026)
38.03%

Overview

Symbol
NSE:WAAREEINDO
Industry
Industrials
Exchange
NSE
Currency
INR

What Indosolar Limited does

Based on the company's own presentations, annual report and earnings calls.

Indosolar Limited (trading as WAAREEINDO) manufactures solar photovoltaic modules at its factory in Greater Noida, Uttar Pradesh. The company emerged from a corporate insolvency resolution process under the IBC, with an NCLT-approved resolution plan implemented in April 2022, and commenced commercial production of 1.3 GW of module-manufacturing capacity during FY25. It operates as a subsidiary of Waaree Energies Limited, which holds a 96.15% stake and is also its principal customer and raw-material/capital-goods supplier under related-party arrangements, effectively functioning as a captive manufacturing unit within the Waaree group.

Segments

  • Solar PV Module Manufacturing
Module manufacturing capacity commissioned (FY25)
1.3 GW
Manufacturing facility location
Greater Noida, Uttar Pradesh
Promoter / holding company
Waaree Energies Limited (96.15% stake, FY25)
Corporate history
Emerged from CIRP under IBC; NCLT-approved resolution plan implemented April 2022
Formerly known as
Indosolar Limited
Founded 2005Headquarters New Delhi, India Company website

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