Debut Plus

₹198.23

▼ -2.98 -1.48%

As of 23 Oct 2026 · delayed

NSE Listed

Indosolar Limited (WAAREEINDO)

Volume: 1,73,130Avg Vol 1W: 1,81,467.6Avg Vol 1M: 1,68,736.252W Range:₹192.01₹634.35
NSE BSE www.indosolar.co.in AI Report
Key Ratios
Checked 21h ago
Market Cap₹825 Cr
Current Price₹198.23
Previous Close₹201.21
High / Low (52w)₹634.35 / ₹192.01
Volume1,73,130
Avg Vol (1W)1,81,467.6
Avg Vol (1M)1,68,736.2
Stock P/E6.59
Book Value₹78.99
Dividend Yield0%
ROE38.07%
ROA25.9%
Revenue (TTM)₹325 Cr
Revenue Growth—
Profit Margin24.7%
Total Debt₹35 Cr
Shares Outstanding4 Cr
Face Value₹10
EPS (TTM)₹30.07
P/B2.5
Debt / Equity0.16
50 DMA₹247.34
200 DMA₹359.85
Day change-1.48%
Price Chart
₹198.23▼ 67.52% · 1Y
₹610₹1975.4L
2025-10-27
2026-10-23

20-day avg volume: 1.7L shares

Pros
  • Healthy return on equity of 38.1%.
  • Company is almost debt-free.
Cons
  • Revenue fell 83% YoY.
  • Company is loss-making at the latest annual result.
Quarterly Results
MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Revenue₹103 Cr₹192 Cr₹195 Cr₹203 Cr₹200 Cr₹83 Cr₹68 Cr₹156 Cr
EBITDA₹15 Cr₹42 Cr₹56 Cr₹62 Cr₹62 Cr₹56 Cr₹48 Cr₹7 Cr
Net Profit₹10 Cr₹40 Cr₹117 Cr₹46 Cr₹41 Cr₹42 Cr₹37 Cr₹5 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹445 Cr₹318 Cr₹16 Cr₹0 Cr₹1 Cr₹1 Cr₹325 Cr₹681 Cr
EBITDA₹48 Cr₹-45 Cr₹-46 Cr₹-15 Cr₹-5 Cr₹-8 Cr₹69 Cr₹236 Cr
Net Profit₹-58 Cr₹-163 Cr₹-525 Cr₹-122 Cr₹1,081 Cr₹-15 Cr₹55 Cr₹247 Cr
EPS-1.58-4.44-14.11-3.29178.36-3.7113.1759.27
Balance Sheet
MetricMar 2017Mar 2018Mar 2019Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹1,116 Cr₹744 Cr₹259 Cr₹116 Cr₹65 Cr₹150 Cr₹241 Cr₹344 Cr
Total Liabilities₹1,415 Cr₹1,200 Cr₹1,240 Cr₹1,236 Cr₹64 Cr₹164 Cr₹200 Cr₹57 Cr
Equity₹-299 Cr₹-457 Cr₹-981 Cr₹-1,120 Cr₹1 Cr₹-14 Cr₹40 Cr₹287 Cr
Total Debt————————
Cash Flow
MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹0 Cr₹-14 Cr₹18 Cr₹85 Cr₹79 Cr
Investing₹0 Cr₹-3 Cr₹-56 Cr₹-20 Cr₹-24 Cr
Financing₹1 Cr₹18 Cr₹38 Cr₹-53 Cr₹-66 Cr
Free Cash Flow₹0 Cr₹-14 Cr₹18 Cr₹85 Cr₹79 Cr
Shareholding
Promoter 74.93% Institutions 0.67% Public 24.4%
About Indosolar Limited

Technology · Solar

Indosolar Limited engages in the manufacturing and trading of solar photovoltaic modules in India, Europe, the United States, Middle East, and Asia. The company was incorporated in 2005 and is based in New Delhi, India. Indosolar Limited is a subsidiary of Waaree Energies Limited.

www.indosolar.co.in ↗
Efficiency & Working Capital
ROCE48.9%
Interest Coverage185.5
Dividend Payout—
Debtor Days—
Inventory Days—
Payable Days—
Cash Conversion Cycle—
Working Capital Days—
Shareholding Details

As of 2026-09-30

Promoter74.9%
FII0.6%
DII0.1%
Institutions0.7%
Public24.4%
Promoter Pledge0%
No. of Shareholders73,189
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters96.1%96.1%96.1%96.1%96.1%96.1%95%74.9%74.9%74.9%74.9%74.9%
FIIs0%0%0%0%0%0%0%0.5%0.5%0.6%0.5%0.6%
DIIs0%0%0%0%0%0%0%0.1%0.1%0.1%0.1%0.1%
Public3.9%3.9%3.9%3.9%3.9%3.9%4.9%24.5%24.5%24.4%24.5%24.4%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders60,86860,86860,86860,86860,86860,86873,14175,08472,83472,09372,84173,189
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Waaree Energies LimitedShareholding of Promoter and Promoter Group74.9%3.12 Cr
Zaveri And Co. Pvt. Ltd.Public Shareholding1.4%5,99,080
Board of Directors
NameDesignationYear
HITESH CHIMANLAL DOSHIChairman / Executive Director / Managing Director2026
VIREN CHIMANLAL DOSHINon-Exec & Non-Independent Dir2026
HITESH PRANJIVAN MEHTANon-Exec & Non-Independent Dir2026
JAYESH DHIRAJLAL SHAHIndependent Non Exe. Director2026
Anita JaiswalIndependent Non Exe. Director2026
Nilesh GandhiIndependent Non Exe. Director2026
Jignesh Devchandbhai RathodNon Independent Non Executive Director / CEO2026
Mahesh R ChhabriaIndependent Non Exe. Director2026
Akalpita Harnish PatelCompany Sec. & Compli. Officer2026
Segments — Product
SegmentRevenueShare
Manufacturing & Trading of Solar Ph₹0 Cr—
Segments — Geography
RegionRevenueShare
Within India₹12 Cr89.6%
Outside India₹1 Cr10.4%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹101,0004242
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-23Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202620000854
20262000069
20260000080
Substantial Acquisitions (SAST)

1 disclosure(s)

Offer For Sale18/09/2025 - 19/09/2025 · 61,00,000
Company Information
Incorporated2005
ChairmanHITESH CHIMANLAL DOSHI
AuditorSGCO & Co LLP
Investor Email[email protected], [email protected]
🌐 www.indosolar.co.in ↗

📍 C-12 Friends Colony (East), New Delhi, New Delhi, 110065

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