INDOSOLAR LIMITED
Snapshot
What the business is, and whether it's a good one at a fair price.
Manufactures solar photovoltaic (PV) modules at a 1.3 GW facility in Greater Noida that began commercial operations in July 2024. FY26 module output reached 1,051 MW versus 589 MW the year before, and revenue from operations was Rs 679.85 crore, with EBITDA margin of 40.05%. The company sits inside the Waaree Group as a subsidiary of Waaree Energies Limited. Revenue mix has shifted: in Q1 FY27, revenue fell to Rs 68.36 crore (from Rs 194.68 crore a year earlier) because tolling contracts replaced prior-year trading sales, even as EBITDA margin jumped to 70.89% from 32.65%. The biggest cost line is materials at 52.1% of revenue, followed by other operating expenses (6.4%) and depreciation (5.4%). It also booked Rs 5.92 crore of subsidy income in Q1 FY27 under the UP Electronics Manufacturing Policy, against an approved subsidy of Rs 9.30 crore.
Scorecard
Measured from the filed financials, judged against its Heavy Electrical Equipment peers · as of FY26 — not investment advice
Strengths
Concerns
Charts
How has the market priced it — with filings on the timeline?
WAAREEINDO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Peers
How does it stack up on valuation, returns and growth?
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Financials
Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.
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Ownership
Who owns it — and is the promoter stake clean?
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Common questions
Answered from INDOSOLAR LIMITED's filed financials and exchange disclosures
What does INDOSOLAR LIMITED do?
INDOSOLAR LIMITED is a Electrical Equipment company listed on NSE and BSE, trading under the symbol WAAREEINDO.
Is INDOSOLAR LIMITED profitable?
Yes. Over the trailing twelve months INDOSOLAR LIMITED reported a net profit of ₹166 Cr on revenue of ₹554 Cr.
Does INDOSOLAR LIMITED pay a dividend?
Not in the latest reported year — INDOSOLAR LIMITED's dividend payout for FY26 was nil.
Is INDOSOLAR LIMITED debt-free?
Yes. It reported no borrowings on its 31 Mar 2026 balance sheet, and ₹1.09 Cr of cash.
Is INDOSOLAR LIMITED expensive compared with its peers?
On trailing P/E, INDOSOLAR LIMITED ranks 1 of 34 in Heavy Electrical Equipment — cheaper than 100% of them, against an industry median of 36.5×. This is a position, not a valuation judgement.
How much does the INDOSOLAR LIMITED share price move in a day?
On a typical session INDOSOLAR LIMITED moves 2.69% — that is the median absolute close-to-close move across its last 235 trading days. MarketPing measures each filing's price reaction against it.
Where can I track INDOSOLAR LIMITED's announcements?
Every NSE and BSE filing by INDOSOLAR LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.
Figures are as last reported and may lag the latest filing. Not investment advice.