Indosolar Ltd

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

Indosolar Ltd

₹ 311 -4.99%
10 Aug - close price
indosolar.co.in BSE: 533257 NSE: WAAREEINDO
About

Incorporated in 2005, Indosolar Ltd manufactures PV solar modules.[1]

Key Points

Business Overview[1]
Indosolar Limited, a subsidiary of Waaree Energies Limited, operates as a solar PV module manufacturer.

Website BSE NSE
  • Market Cap ₹ 1,295 Cr.
  • Current Price ₹ 311
  • High / Low ₹ 725 / 283
  • Stock P/E 7.78
  • Book Value ₹ 69.0
  • Dividend Yield 0.00 %
  • ROCE 124 %
  • ROE 151 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 101% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Debtor days have increased from 58.9 to 113 days.
  • Working capital days have increased from 28.1 days to 106 days

* 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

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
0 0 0 0 0 28 103 192 195 203 200 83 68
0 0 2 1 1 7 80 142 131 132 129 19 20
Operating Profit -0 -0 -2 -1 -1 22 23 50 64 71 71 64 48
OPM % 77% 23% 26% 33% 35% 36% 77% 71%
0 0 0 1 0 0 1 1 1 0 0 1 8
Interest 1 2 2 3 3 4 5 2 1 0 0 0 0
Depreciation 1 1 1 1 1 8 9 9 9 9 9 9 9
Profit before tax -2 -3 -5 -5 -5 9 10 40 55 61 62 56 47
Tax % 0% 0% 0% 0% 0% 0% 0% 0% -112% 24% 33% 25% 23%
-2 -3 -5 -5 -5 9 10 40 117 46 41 42 37
EPS in Rs -0.57 -0.77 -1.21 -1.16 -1.20 2.28 2.46 9.62 28.07 11.14 9.97 10.10 8.80
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
296 258 442 314 13 0 0 0 0 0 324 680 554
248 248 368 336 38 2 1 8 2 1 229 409 299
Operating Profit 48 10 75 -21 -25 -2 -1 -8 -2 -1 95 271 255
OPM % 16% 3.8% 17% -7% -186% -4,068% 29% 40% 46%
4 2 3 -60 -425 1 1 -107 1,089 -2 1 2 10
Interest 103 126 106 54 51 0 0 0 1 8 14 1 1
Depreciation 27 27 29 28 24 7 7 7 4 5 27 37 37
Profit before tax -78 -141 -58 -163 -525 -8 -8 -122 1,081 -15 55 234 227
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -5%
-78 -141 -58 -163 -525 -8 -8 -122 1,081 -15 55 247 166
EPS in Rs -2.18 -3.94 -1.62 -4.38 -14.11 -0.22 -0.21 -3.29 259.87 -3.71 13.17 59.27 40.01
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: %
3 Years: %
TTM: 7%
Compounded Profit Growth
10 Years: 14%
5 Years: 101%
3 Years: 231%
TTM: -6%
Stock Price CAGR
10 Years: 45%
5 Years: 161%
3 Years: %
1 Year: -18%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 151%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 358 358 358 372 372 372 372 372 42 42 42 42
Reserves -465 -606 -667 -829 -1,354 -1,362 -1,370 -1,492 -41 -56 -1 245
987 965 942 820 829 41 829 829 60 102 50 3
244 385 483 380 412 1,200 407 408 4 63 150 54
Total Liabilities 1,125 1,102 1,116 744 259 252 238 116 65 150 241 344
470 445 452 427 154 147 140 82 48 47 122 91
CWIP 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
81 60 101 60 21 21 14 7 13 9 118 253
Total Assets 1,125 1,102 1,116 744 259 252 238 116 65 150 241 344

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
79 16 55 29 32 -1 -1 -0 -14 18 85 78
-61 -2 -28 -8 -23 2 -1 0 -3 -56 -20 -24
-10 -24 -21 -25 -12 -0 0 1 18 38 -53 -66
Net Cash Flow 8 -9 6 -4 -2 1 -2 0 1 0 12 -12
Free Cash Flow 1 -1 32 17 9 -0 -1 -0 -14 -38 65 53
CFO/OP 165% 168% 73% -137% -132% 28% 41% 5% 721% -1,255% 90% 29%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 2 5 9 3 4 5 113
Inventory Days 41 50 45 35 112 138 21
Days Payable 21 82 34 82 1,787 153 20
Cash Conversion Cycle 22 -27 21 -43 -1,671 -10 114
Working Capital Days -714 -1,130 -1,110 -996 -33,663 -50 106
ROCE % 3% -2% 7% -9% -44% -7% 77% 124%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 Mar 2024 Mar 2025
Number of Permanent Employees
employees

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Installed Manufacturing Capacity
MW
Solar Cell Production Volume
MWp
Number of Customers Contributing >10% of Revenue
customers
Contract / Third Party Payroll Employees
employees
Related Party Sales Share (Holding Company - Waaree Energies)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 96.15% 95.00% 74.93% 74.93% 74.93% 74.93%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.53% 0.53% 0.55% 0.54%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.07% 0.06% 0.13% 0.06%
3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 3.86% 4.94% 24.46% 24.47% 24.38% 24.46%
No. of Shareholders 60,86860,86860,86860,86860,86860,86860,86873,14175,08472,83472,09372,841

* 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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