Indosolar Ltd
lndosolar Limited was incorporated in 2005. The company is a manufacturer of solar photovoltaic cells. The Company had shut down its production facilities and the company is under Corporate insolvency Resolution Process under insolvency and Bankruptcy Code. The registered office of the company is in New Delhi.[1][2]
- Market Cap ₹ 123 Cr.
- Current Price ₹ 3.30
- High / Low ₹ /
- Stock P/E 2.24
- Book Value ₹ 0.98
- Dividend Yield 0.00 %
- ROCE 78.3 %
- ROE 421 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 53.7% CAGR over last 5 years
Cons
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
16 | 296 | 258 | 442 | 314 | 13 | 0 | 0 | 0 | 0 | 0 | 324 | |
44 | 248 | 248 | 368 | 336 | 38 | 2 | 1 | 8 | 2 | 4 | 229 | |
Operating Profit | -28 | 48 | 10 | 75 | -21 | -25 | -2 | -1 | -8 | -2 | -4 | 95 |
OPM % | -182% | 16% | 4% | 17% | -7% | -186% | -4,068% | 29% | ||||
2 | 4 | 2 | 3 | -60 | -425 | 1 | 1 | -107 | 1,089 | 1 | 1 | |
Interest | 81 | 103 | 126 | 106 | 54 | 51 | 0 | 0 | 0 | 1 | 8 | 14 |
Depreciation | 30 | 27 | 27 | 29 | 28 | 24 | 7 | 7 | 7 | 4 | 5 | 27 |
Profit before tax | -137 | -78 | -141 | -58 | -163 | -525 | -8 | -8 | -122 | 1,081 | -15 | 55 |
Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
-137 | -78 | -141 | -58 | -163 | -525 | -8 | -8 | -122 | 1,081 | -15 | 55 | |
EPS in Rs | -4.09 | -2.18 | -3.94 | -1.62 | -4.38 | -14.11 | -0.22 | -0.21 | -3.29 | 26.24 | -0.37 | 1.33 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 1% |
5 Years: | % |
3 Years: | % |
TTM: | % |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | 54% |
3 Years: | 79% |
TTM: | 453% |
Stock Price CAGR | |
---|---|
10 Years: | -14% |
5 Years: | 38% |
3 Years: | -3% |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
Last Year: | 421% |
Balance Sheet
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 335 | 358 | 358 | 358 | 372 | 372 | 372 | 372 | 372 | 42 | 42 | 42 |
Reserves | -386 | -465 | -606 | -667 | -829 | -1,354 | -1,362 | -1,370 | -1,492 | -41 | -56 | -1 |
1,013 | 987 | 965 | 942 | 820 | 829 | 41 | 829 | 829 | 60 | 99 | 50 | |
198 | 244 | 385 | 483 | 380 | 412 | 1,200 | 407 | 408 | 4 | 65 | 150 | |
Total Liabilities | 1,161 | 1,125 | 1,102 | 1,116 | 744 | 259 | 252 | 238 | 116 | 65 | 150 | 241 |
492 | 470 | 445 | 452 | 427 | 154 | 147 | 140 | 82 | 48 | 47 | 122 | |
CWIP | 569 | 574 | 597 | 563 | 257 | 83 | 83 | 83 | 27 | 4 | 94 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
100 | 81 | 60 | 101 | 60 | 21 | 21 | 14 | 7 | 13 | 9 | 118 | |
Total Assets | 1,161 | 1,125 | 1,102 | 1,116 | 744 | 259 | 252 | 238 | 116 | 65 | 150 | 241 |
Cash Flows
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-23 | 79 | 16 | 55 | 29 | 32 | -1 | -1 | -0 | -14 | 18 | 85 | |
-4 | -61 | -2 | -28 | -8 | -23 | 2 | -1 | 0 | -3 | -56 | -20 | |
28 | -10 | -24 | -21 | -25 | -12 | -0 | 0 | 1 | 18 | 38 | -53 | |
Net Cash Flow | 2 | 8 | -9 | 6 | -4 | -2 | 1 | -2 | 0 | 1 | 0 | 12 |
Ratios
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 77 | 2 | 5 | 9 | 3 | 4 | 5 | |||||
Inventory Days | 1,080 | 41 | 50 | 45 | 35 | 112 | 138 | |||||
Days Payable | 415 | 21 | 82 | 34 | 82 | 1,787 | 154 | |||||
Cash Conversion Cycle | 742 | 22 | -27 | 21 | -43 | -1,671 | -10 | |||||
Working Capital Days | -6,507 | -606 | -1,032 | -1,062 | -955 | -32,681 | -36 | |||||
ROCE % | -6% | 3% | -2% | 7% | -9% | -44% | -11% | 78% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
13 May - Indosolar appoints Hitesh Doshi as MD and multiple directors effective 2022-2024, approved in May 2025 AGM.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
13 May - Indosolar appoints S.G.C.O. & Co LLP as statutory auditor for FY2023-27 replacing resigned auditor.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
13 May - Indosolar AGM passed 16 resolutions including appointment of Managing and Independent Directors post CIRP.
-
Shareholder Meeting / Postal Ballot-Outcome of AGM
9 May - Indosolar held 15th AGM post-CIRP; approved directors, financials FY22-24, borrowing limits, and loan-to-equity conversion.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
5 May - Newspaper Publication of Public Notice of 2nd Corrigendum to the notice of 15th AGM post CIRP
Annual reports
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2013
from nse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
Products & Services
Cells:
The company offers multi-crystalline silicon cells under its Sona series, and the company offers mono-crystalline silicon cells under its Sapphire series.
Photovoltaic Modules:
The company provides PV modules for residential, commercial and utility-scale installations..
Solar Solutions:
The company offers reliable and innovative super solar solutions like Residential Rooftop Systems for Home, Solar Street Lightning, etc.[1][2][3]