Indosolar Q2 FY27: revenue down 23%, PAT plunges 89% amid solar industry headwinds
WAAREEINDO · price
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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.4 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Indosolar Q2 FY27 revenue fell 23.19% YoY to Rs 155.59 crores, with PAT plunging 89.17% to Rs 5.02 crores. Operating EBITDA dropped 79% to Rs 14.82 crores, margin shrinking to 9.52% from 34.92%. H1 FY27 revenue declined 43.62% and PAT fell 74.48%. Module production dropped to 148 MW from 244 MW, and sales to 98 MW from 249 MW. Management cited regulatory changes, higher raw material costs, lower capacity use, and shift from tolling to owned manufacturing. Proposed merger with Waaree Energies remains a key milestone.
Sharp YoY decline in revenue, EBITDA, and PAT signals serious operational headwinds and may weigh on the stock. Long-term outlook tied to Waaree merger.