Indosolar Limited (WAAREEINDO)

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Indosolar Limited (WAAREEINDO) · mywealthgrid

Peers

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Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
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Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90
Suzlon Energy LimitedSUZLONSUZLON	₹53,473 Cr	₹53,737 Cr	₹17,429 Cr	₹3,019 Cr	18.1%	₹3,144 Cr	18.9%	31.7%	40.6%	117
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Schneider Electric Infrastructure LimitedSCHNEIDERSCHNEIDER	₹30,495 Cr	₹30,939 Cr	₹2,920 Cr	₹336 Cr	12.8%	₹184 Cr	7.4%	28.5%	31.8%	61
Azad Engineering LimitedAZADAZAD	₹18,481 Cr	₹18,938 Cr	₹638 Cr	₹240 Cr	37.4%	₹139 Cr	22.2%	12.4%	9.1%	1,720
Triveni Turbine LimitedTRITURBINETRITURBINE	₹16,849 Cr	₹16,849 Cr	₹2,253 Cr	₹428 Cr	20.7%	₹336 Cr	16%	35.7%	26.3%	8
Karamtara Engineering LimitedKARAMTARAKARAMTARA	₹13,225 Cr	₹14,255 Cr	₹4,312 Cr	₹498 Cr	11.6%	₹229 Cr	5.3%	27.2%	20.8%	—
Atlanta Electricals LimitedATLANTAELEATLANTAELE	₹13,200 Cr	₹13,247 Cr	₹2,001 Cr	₹367 Cr	18.6%	₹224 Cr	10.9%	34.8%	21.7%	74

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	257	442	314	13	0	0	0	0	324	680
COGS	-192	-297	-276	-18	0	0	0	0	197	360
Gross profit	—	—	—	—	—	—	—	—	127	320
	468	652	573	56	2	1	2	4	32	49
	-19	87	16	-25	-2	-1	-2	-4	95	271
OPM %	-7.4%	19.6%	5.2%	-186.5%	—	—	—	—	29.3%	39.8%
Depreciation	—	28	28	24	7	7	4	5	27	37
Interest	125	120	91	51	0	0	1	8	14	1
	3	4	4	3	1	1	1,089	1	1	2
Profit before tax	-141	-58	-163	-525	-8	-8	1,081	-15	55	234
Tax	—	—	—	—	0	0	0	0	0	-12
Tax %	—	—	—	—	0%	0%	0%	0%	0%	-5.3%
	-141	-58	-163	-525	-8	-8	1,081	-15	55	247
PAT margin %	-54.9%	-13.2%	-51.8%	—	—	—	—	—	16.9%	36.3%
EPS (₹)	—	—	-4.4	-14.1	-0.2	-0.2	178.4	-3.7	13.2	59.3
EPS adjusted (₹)	—	—	—	—	—	-0.2	259.9	-3.7	13.2	59.3
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	372	372	42	42	42	42
Reserves	-1,370	-1,370	-41	-56	-1	245
Minority interest	—	—	0	—	—	0
	41	828	60	99	47	0
	1,200	408	4	65	153	57
Total equity & liabilities	244	238	65	150	241	344
	140	118	48	32	107	76
CWIP	83	83	4	94	0	0
Investments	0	—	0	16	0	0
	21	37	13	9	134	269
Total assets	244	238	65	150	241	344

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	39.1%	47.1%
EBITDA margin %	5.2%	-186.5%	—	—	—	—	29.3%	39.8%
EBIT margin %	-3.7%	-369.1%	—	—	—	—	20.9%	34.4%
PAT margin %	-51.8%	-3,971.3%	—	—	—	—	16.9%	36.3%
Working capital
Receivable days	—	—	—	—	—	—	5	113
Inventory days	—	—	—	—	—	—	138	21
Payable days	—	—	—	—	—	—	154	20
NWC days	—	—	—	—	—	—	-10	114
Leverage
Current ratio	—	—	—	0.02	0.12	0.29	0.81	6.7
Debt to EBITDA	—	—	—	—	—	—	0.5	0
Debt to equity	—	—	—	-0.04	56.36	-6.9	1.16	0
Interest coverage	-0.1	-0.9	-207.5	—	-4.7	-1	5	185.5
Asset turnover	—	—	—	0	0	0	1.35	1.97
Return ratios
Return on assets %	—	—	—	-3.3%	1,654.9%	-10.3%	22.8%	71.6%
Return on capital employed %	—	—	—	0.8%	-45.1%	-11.5%	62.6%	116.2%
Return on equity %	—	—	—	0.8%	1,01,043.9%	107.4%	135.6%	85.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	96.15%	96.15%	96.15%	96.15%	96.15%	96.15%	96.15%	95%	74.93%	74.93%	74.93%	74.93%
	0%	0%	0%	0%	0%	0%	0%	0.01%	0.54%	0.54%	0.55%	0.55%
	0%	0%	0%	0%	0%	0%	0%	0.05%	0.07%	0.06%	0.12%	0.06%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	3.85%	3.85%	3.85%	3.85%	3.85%	3.85%	3.85%	4.94%	24.46%	24.47%	24.4%	24.46%
No. of shareholders	—	—	—	—	—	—	—	—	75,084	72,834	72,093	72,841

Promoter holding down 21.22 percentage points since Sep 2023.

2 deals · 7 Oct 2025 – 9 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
9 Oct 2025	VINOD KUMAR	Bulk	NSE	Sell	2,88,017	₹712.65	₹20.53 Cr
7 Oct 2025	EPITOME TRADING AND INVESTMENTS	Bulk	NSE	Sell	2,55,399	₹642.98	₹16.42 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Hitesh Chimanlal DoshiExecutive Director-Chairperson related to Promoter-MD
Mr. Viren Chimanlal DoshiNon-Executive - Non Independent Director
Mr. Hitesh Pranjivan MehtaNon-Executive - Non Independent Director
Mrs. Anita JaiswalNon-Executive - Independent Director
Mr. Jayesh Dhirajlal ShahNon-Executive - Independent Director
Mr. Mahesh Ramchand ChhabriaNon-Executive - Independent Director
Mr. Jignesh Devchandbhai RathodNon-Executive - Non Independent Director
Mr. Nilesh GandhiNon-Executive - Independent Director
Mr. Abhishek PareekChief Financial Officer
Ms. Akalpita PatelCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

4 announcementsExport CSV

28 Sept 2026, 11:32 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

1 Sept 2026, 5:19 pmAGM/EGM

Voting Results And Scrutiniser Report

AGM PDF

1 Sept 2026, 4:56 pmAGM/EGM

Voting Results And Scrutiniser Report

AGM PDF

1 Sept 2026, 4:50 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

Date	Category	Subject	Filing
28 Sept 2026, 11:32 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
1 Sept 2026, 5:19 pm	AGM/EGM AGM	Voting Results And Scrutiniser Report	PDF

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Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	39.1%	47.1%
EBITDA margin %	5.2%	-186.5%	—	—	—	—	29.3%	39.8%
EBIT margin %	-3.7%	-369.1%	—	—	—	—	20.9%	34.4%
PAT margin %	-51.8%	-3,971.3%	—	—	—	—	16.9%	36.3%
Working capital
Receivable days	—	—	—	—	—	—	5	113
Inventory days	—	—	—	—	—	—	138	21
Payable days	—	—	—	—	—	—	154	20
NWC days	—	—	—	—	—	—	-10	114
Leverage
Current ratio	—	—	—	0.02	0.12	0.29	0.81	6.7
Debt to EBITDA	—	—	—	—	—	—	0.5	0
Debt to equity	—	—	—	-0.04	56.36	-6.9	1.16	0
Interest coverage	-0.1	-0.9	-207.5	—	-4.7	-1	5	185.5
Asset turnover	—	—	—	0	0	0	1.35	1.97
Return ratios
Return on assets %	—	—	—	-3.3%	1,654.9%	-10.3%	22.8%	71.6%
Return on capital employed %	—	—	—	0.8%	-45.1%	-11.5%	62.6%	116.2%
Return on equity %	—	—	—	0.8%	1,01,043.9%	107.4%	135.6%	85.9%

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	-1	-1	-58	18	85	78
	2	-1	-1	-3	-56	-20	-24
	-1	-0	0	62	38	-53	-66
Net cash flow	1	-2	-2	1	0	12	-12
Free cash flow	0	-1	—	-62	-42	64	53
CFO / Operating profit %	—	—	—	—	—	89.5%	29%

Indosolar Limited

About

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Research score

Revenue & net profit

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Peers

Financials

Ratios

Shareholding

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Documents

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1

Announcements

Not in the F&O segment

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1

Announcements

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Compounded sales growth

Compounded profit growth

Return on equity

Indosolar Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Board meetings1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

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