Indosolar Ltd

Indosolar Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indosolar Ltd

₹ 425 2.88%
08 Apr 12:17 p.m.
indosolar.co.in BSE: 533257 NSE: WAAREEINDO
About

Incorporated in 2005, lndosolar Ltd manufactures solar photovoltaic cells[1]

Key Points

Operational Status:[1][2]
Their manufacturing facility is located in Greater Noida, Uttar Pradesh which is closed since
15 May 2018. The company is yet to commence operations and is proposing to set up module manufacturing line at its premises at Noida.

Website BSE NSE
  • Market Cap ₹ 1,754 Cr.
  • Current Price ₹ 425
  • High / Low ₹ 725 / 165
  • Stock P/E 7.17
  • Book Value ₹ 48.9
  • Dividend Yield 0.00 %
  • ROCE 77.0 %
  • ROE 420 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 53.6% CAGR over last 5 years

Cons

  • Stock is trading at 8.69 times its book value

* 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

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

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Quarterly Results

Figures in Rs. Crores

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
0 0 0 0 0 0 0 28 103 192 195 203 200
0 1 0 0 2 1 1 7 80 142 131 132 129
Operating Profit -0 -1 -0 -0 -2 -1 -1 22 23 50 64 71 71
OPM % 77% 23% 26% 33% 35% 36%
0 -4 0 0 0 1 0 0 1 1 1 0 0
Interest 0 1 1 2 2 3 3 4 5 2 1 0 0
Depreciation 0 3 1 1 1 1 1 8 9 9 9 9 9
Profit before tax -1 -8 -2 -3 -5 -5 -5 9 10 40 55 61 62
Tax % 0% 3% 0% 0% 0% 0% 0% 0% 0% 0% -112% 24% 33%
-1 -9 -2 -3 -5 -5 -5 9 10 40 117 46 41
EPS in Rs -0.01 -2.05 -0.57 -0.77 -1.21 -1.16 -1.20 2.28 2.46 9.62 28.07 11.14 9.97
Raw PDF

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 TTM
16 296 258 442 314 13 0 0 0 0 0 324 789
44 248 248 368 336 38 2 1 8 2 1 229 533
Operating Profit -28 48 10 75 -21 -25 -2 -1 -8 -2 -1 95 255
OPM % -182% 16% 4% 17% -7% -186% -4,068% 29% 32%
2 4 2 3 -60 -425 1 1 -107 1,089 -2 1 2
Interest 81 103 126 106 54 51 0 0 0 1 8 14 3
Depreciation 30 27 27 29 28 24 7 7 7 4 5 27 37
Profit before tax -137 -78 -141 -58 -163 -525 -8 -8 -122 1,081 -15 55 218
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 55 245
EPS in Rs -4.09 -2.18 -3.94 -1.62 -4.38 -14.11 -0.22 -0.21 -3.29 259.87 -3.71 13.17 58.80
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: 502%
Compounded Profit Growth
10 Years: 10%
5 Years: 54%
3 Years: 78%
TTM: 2366%
Stock Price CAGR
10 Years: 48%
5 Years: 189%
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 420%

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 Sep 2025
Equity Capital 335 358 358 358 372 372 372 372 372 42 42 42 42
Reserves -386 -465 -606 -667 -829 -1,354 -1,362 -1,370 -1,492 -41 -56 -1 162
1,013 987 965 942 820 829 41 829 829 60 102 50 3
198 244 385 483 380 412 1,200 407 408 4 63 150 129
Total Liabilities 1,161 1,125 1,102 1,116 744 259 252 238 116 65 150 241 336
492 470 445 452 427 154 147 140 82 48 47 122 105
CWIP 569 574 597 563 257 83 83 83 27 4 94 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
100 81 60 101 60 21 21 14 7 13 9 118 231
Total Assets 1,161 1,125 1,102 1,116 744 259 252 238 116 65 150 241 336

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
Free Cash Flow -29 1 -1 32 17 9 -0 -1 -0 -14 -38 65
CFO/OP 80% 165% 168% 73% -137% -132% 28% 41% 5% 721% -1,255% 90%

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 -8,194 -714 -1,130 -1,110 -996 -33,663 -50
ROCE % -6% 3% -2% 7% -9% -44% -7% 77%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2024 Mar 2025
Number of Full-time Employees
Count

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Solar Cell Production Volume
MWp
Solar Cell Manufacturing Capacity (Legacy Phase I & II)
MWp
Solar Manufacturing Capacity
GW

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 95.00% 74.93% 74.93%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.53% 0.53%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.07% 0.06%
3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 4.94% 24.46% 24.47%
No. of Shareholders 60,86860,86860,86860,86860,86860,86860,86860,86860,86873,14175,08472,834

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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