The Exchange had sought clarification from Indosolar Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results not signed by authorized signatory/ies -2. The company has not submitted declaration in case of unmodified opinion(s) The response of the Company is enclosed.
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Indosolar Limited has responded to NSE's clarification request regarding its March 2025 quarter financial results under Regulation 33 of SEBI LODR. The exchange had flagged three issues: results not signed by an authorized signatory, timing of submission, and a missing declaration of unmodified auditor opinion. The company clarified that the results were signed by an authorized director backed by a board resolution, filed within the prescribed timeline, and that the unmodified opinion declaration was inadvertently missed and has now been submitted with the CFO's signature. The filing also includes the full audited financial results for Q4 and FY25, showing a major turnaround. Revenue from operations for the full year stood at ₹32,390.62 lakhs with a net profit of ₹5,478.19 lakhs (EPS of ₹13.17), compared to a loss of ₹1,544.37 lakhs in FY24. The board also approved the appointment of Mr. Amit Paithankar as Additional Non-Executive Director and Mr. Mahesh Chhabria as Independent Director for a five-year term.
This is primarily a procedural compliance filing with no material negative impact, as the company addressed all of NSE's queries. Investors should note the strong business turnaround with the company swinging to a significant profit in FY25, driven by commencement of commercial operations at its Greater Noida solar module factory in July 2024. Trading in the stock remains suspended but the company has secured conditional listing approval from BSE and NSE in February 2025.