Indosolar Q1 FY27: revenue drops 44% YoY to Rs 68 crore

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Heavy Electrical Equipment peers, median of 33sector+0.1%-5.7% vs sector

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AI summary

Indosolar Limited, a solar PV module maker, submitted Q1 FY27 results for the quarter ended June 30, 2026. Revenue from operations fell to Rs 68.36 crore from Rs 121.51 crore in Q1 FY26, a drop of about 44% year on year. The company recognised Rs 5.92 crore of subsidy income under the UP Electronics Manufacturing Policy, out of a total approved subsidy of Rs 9.30 crore. The board approved the results on July 23, 2026. Auditor SGCO and Co LLP gave an unqualified limited review report.

Likely market impact

Sharp revenue decline is a concern, though subsidy income cushions earnings. Watch for demand recovery in coming quarters.