| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 156 | 203 | −23.2% |
| EBITDA | 14.8 | 70.7 | −79.0% |
| EBITDA margin | 9.5% | 34.9% | −25.4 pts |
| Profit before tax | 6.7 | 61.1 | −89.0% |
| Net profit | 5.0 | 46.3 | −89.2% |
| EPS | ₹1.20 | ₹11.14 | −89.2% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 |
|---|
| 814 | — | — | — | — | |
| 81.2 | 1.1 | 13.0 | 0.9 | 0.9 | |
| 0.0 | 0.0 | 47.1 | 99.1 | 60.3 | |
| 732 | — | — | — | — | |
| 507 | 680 | 324 | 0.0 | 0.0 | |
| — | +109.9% | — | — | — | |
| 199 | 271 | 95.0 | −3.9 | −2.0 | |
| 39.2% | 39.8% | 29.3% | — | — | |
| 161 | 234 | 67.7 | −8.5 | −6.2 | |
| 125 | 247 | 54.8 | −15.4 | 1,081 | |
| 24.7% | 36.3% | 16.9% | — | — | |
| ₹30.07 | ₹59.27 | ₹13.17 | −₹3.71 | ₹259.87 | |
| — | +350.1% | +454.7% | −101.4% | — | |
| — | 78.4 | 85.1 | 18.3 | −58.2 | |
| — | −24.9 | −20.6 | −60.0 | −3.7 | |
| 53.5 | 53.5 | 64.5 | −41.7 | −61.9 | |
From the company's filings with NSE and BSE (Ind-AS), standalone. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 813.5 | |
| - Cash, Equiv & ST Investments | 0.9 | 0.9 | 13.0 | 1.1 | 81.2 | |
| + Total Debt | 60.3 | 99.1 | 47.1 | 0.0 | 0.0 | |
| Enterprise Value | — | — | — | — | 732.4 | |
| Revenue | 0.0 | 0.0 | 323.9 | 679.8 | 506.6 | |
| Growth %, YoY | — | — | — | +109.9 | — | |
| EBITDA | -2.0 | -3.9 | 95.0 | 270.7 | 198.6 | |
| Margin % | — | — | 29.34 | 39.82 | 39.21 | |
| EBIT | -6.2 | -8.5 | 67.7 | 234.0 | 161.3 | |
| Net Income | 1,081.2 | -15.4 | 54.8 | 246.6 | 125.1 | |
| Margin % | — | — | 16.91 | 36.27 | 24.70 | |
| EPS, Adj (current shares) | 259.87 | -3.71 | 13.17 | 59.27 | 30.07 | |
| Growth %, YoY | — | -101.4 | +454.7 | +350.1 | — | |
| Cash from Operations | -58.2 | 18.3 | 85.1 | 78.4 | — | |
| Capital Expenditures | -3.7 | -60.0 | -20.6 | -24.9 | — | |
| Free Cash Flow | -61.9 | -41.7 | 64.5 | 53.5 | 53.5 | |
Prices at the previous close · figures from the company's filings with NSE
Indosolar (NSE: WAAREEINDO) had a market capitalisation of ₹814 crore at the previous close (₹195.54 a share), a PE ratio of 6.5 on the last four quarters' profit and a price-to-book ratio of 2.48. In FY26 its consolidated net profit was ₹247 crore on revenue of ₹680 crore; in Q2 FY27 (July–September 2026) it was ₹5 crore, down 89.2% year on year. It had no borrowings on 30 September 2026. Promoters held 74.93% of the shares on 30 September 2026.
Indosolar's PE ratio is 6.5 at the previous close (₹195.54 a share): a market capitalisation of ₹814 crore divided by consolidated net profit of ₹125 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit (₹247 crore) it is 3.3.
Indosolar's net worth — shareholders' equity in its consolidated balance sheet — was ₹329 crore on 30 September 2026, up 61.4% from ₹204 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹814 crore at the previous close.
Indosolar's book value per share was ₹78.99 on 30 September 2026: shareholders' equity of ₹329 crore divided by the 4.16 crore shares in issue, up 61.4% from ₹48.93 a year earlier. The share price at the previous close was ₹195.54.
Indosolar's price-to-book (PB) ratio is 2.48 at the previous close: a market capitalisation of ₹814 crore divided by shareholders' equity (book value) of ₹329 crore on 30 September 2026. That is a book value of ₹78.99 per share against a share price of ₹195.54.
In FY26, Indosolar's return on equity (ROE) was 150.6% and its return on capital employed (ROCE) was 115.4%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities).
On 30 September 2026, Indosolar's shares were held by promoters 74.93%, foreign portfolio investors (FII/FPI) 0.61%, domestic institutions (DII) 0.06% and retail and other non-institutional investors 24.40%. Over the year, FII holding was up 0.07 percentage points from 0.54% and DII holding was down 0.01 percentage points from 0.07%.
Indosolar's market capitalisation was ₹814 crore at the previous close: 4.16 crore shares at ₹195.54 each.
Yes. Indosolar had no borrowings on 30 September 2026 (consolidated balance sheet), and it held ₹85.4 crore of cash, bank balances and current investments.
Indosolar's debt-to-equity ratio was 0.00 on 30 September 2026: no borrowings against total equity of ₹329 crore. A year earlier, on 30 September 2025, it was 0.00.
Indosolar's basic earnings per share (EPS) were ₹59.27 in FY26, against ₹13.17 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹30.06.
Promoters held 74.93% of Indosolar on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
Indosolar has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
In FY26, Indosolar generated ₹78.4 crore of cash from operations and spent ₹24.9 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹53.5 crore. In FY25 it was ₹64.5 crore.
Indosolar's latest results are for Q2 FY27 (July–September 2026), filed on 21 October 2026: consolidated net profit ₹5 crore, down 89.2% from ₹46.3 crore in Q2 FY26; revenue from operations ₹156 crore, down 23.2% year on year.
In FY26 (April 2025–March 2026), Indosolar's consolidated net profit was ₹247 crore, up 350.1% from ₹54.8 crore in FY25, on revenue from operations of ₹680 crore (up 109.9%). Over three years, from FY23, net profit was down 77.2%.
On FY26 consolidated figures, against Jyoti Structures, Swelect Energy Systems and Bajel Projects: Indosolar's operating margin of 34.4% is the highest of the four (Jyoti Structures 4.8%, Swelect Energy Systems 15.6%, Bajel Projects 2.8%; peer average 7.7%); its return on equity of 150.6% is the highest of the four (Jyoti Structures 10.8%, Swelect Energy Systems 6.2%, Bajel Projects 2.9%; peer average 6.6%).
In FY26, Indosolar earned net profit of ₹247 crore on revenue of ₹680 crore, against ₹56 crore on ₹751 crore for Jyoti Structures. Indosolar's operating margin was 34.4% (Jyoti Structures 4.8%) and its return on equity 150.6% (Jyoti Structures 10.8%).
From Indosolar's own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.