Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 28 | 103 | 192 | 195 | 203 | 200 | 83 | 68 |
| Expenses | 0 | 2 | 1 | 1 | 7 | 80 | 142 | 131 | 132 | 129 | 19 | 20 |
| Operating Profit | -0 | -2 | -1 | -1 | 22 | 23 | 50 | 64 | 71 | 71 | 64 | 48 |
| OPM % | 77% | 23% | 26% | 33% | 35% | 36% | 77% | 71% | ||||
| Other Income | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 8 |
| Interest | 2 | 2 | 3 | 3 | 4 | 5 | 2 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Profit before tax | -3 | -5 | -5 | -5 | 9 | 10 | 40 | 55 | 61 | 62 | 56 | 47 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -112% | 24% | 33% | 25% | 23% |
| Net Profit | -3 | -5 | -5 | -5 | 9 | 10 | 40 | 117 | 46 | 41 | 42 | 37 |
| EPS in Rs | -0.77 | -1.21 | -1.16 | -1.20 | 2.28 | 2.46 | 9.62 | 28.07 | 11.14 | 9.97 | 10.10 | 8.80 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 258 | 442 | 314 | 13 | 0 | 0 | 0 | 0 | 0 | 324 | 680 | 554 |
| Expenses | 248 | 368 | 336 | 38 | 2 | 1 | 8 | 2 | 1 | 229 | 409 | 299 |
| Operating Profit | 10 | 75 | -21 | -25 | -2 | -1 | -8 | -2 | -1 | 95 | 271 | 255 |
| OPM % | 3.8% | 17% | -7% | -186% | -4,068% | 29% | 40% | 46% | ||||
| Other Income | 2 | 3 | -60 | -425 | 1 | 1 | -107 | 1,089 | -2 | 1 | 2 | 10 |
| Interest | 126 | 106 | 54 | 51 | 0 | 0 | 0 | 1 | 8 | 14 | 1 | 1 |
| Depreciation | 27 | 29 | 28 | 24 | 7 | 7 | 7 | 4 | 5 | 27 | 37 | 37 |
| Profit before tax | -141 | -58 | -163 | -525 | -8 | -8 | -122 | 1,081 | -15 | 55 | 234 | 227 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -5% | |
| Net Profit | -141 | -58 | -163 | -525 | -8 | -8 | -122 | 1,081 | -15 | 55 | 247 | 166 |
| EPS in Rs | -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% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 10% | % | % | 7% | ||
| Compounded Profit Growth | 14% | 101% | 231% | -6% | ||
| Stock Price CAGR | 40% | 145% | % | -60% | ||
| Return on Equity | % | % | % | 151% |
| 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 |
| Borrowings | 987 | 965 | 942 | 820 | 829 | 41 | 829 | 829 | 60 | 102 | 50 | 3 |
| Other Liabilities | 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 |
| Fixed Assets | 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 |
| Other Assets | 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 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 79 | 16 | 55 | 29 | 32 | -1 | -1 | -0 | -14 | 18 | 85 | 78 |
| Cash from Investing Activity | -61 | -2 | -28 | -8 | -23 | 2 | -1 | 0 | -3 | -56 | -20 | -24 |
| Cash from Financing Activity | -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% |
| 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% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 96.15% | 96.15% | 96.15% | 96.15% | 96.15% | 96.15% | 96.15% | 95.00% | 74.93% | 74.93% | 74.93% | 74.93% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.53% | 0.53% | 0.55% | 0.54% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.07% | 0.06% | 0.13% | 0.06% |
| Public | 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 | 60,868 | 60,868 | 60,868 | 60,868 | 60,868 | 60,868 | 60,868 | 73,141 | 75,084 | 72,834 | 72,093 | 72,841 |
Fundamentals
Market Cap₹ 877 Cr.
Current Price₹ 211
Stock P/E5.27
Book Value₹ 69.0
ROCE124 %
ROE151 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)-6%
Standalone figures.
Valuation
Market capRs 846 Cr
Enterprise valueRs 843 Cr
P/E (TTM)5.08x
Price to book2.95x
Price to sales1.53x
EV / EBITDA3.19x
EV / EBIT3.71x
EV / sales1.52x
Price to cash flow10.80x
Earnings yield19.67%
P/E, 3-year average3.22x
P/B, 3-year average1.56x
P/E, 5-year average2.15x
P/B, 5-year average3.48x
Profitability
Operating margin (excl. other income)39.82%
Operating margin (incl. other income)40.05%
EBITDA margin47.73%
Pre-tax margin40.93%
Net profit margin30.07%
Net margin, latest quarter53.57%
ROE150.64%
ROCE123.80%
ROA84.28%
ROE, 3-year average267.85%
ROCE, 3-year average63.54%
ROA, 3-year average32.66%
ROE, 5-year average124.37%
ROCE, 5-year average63.54%
ROA, 5-year average244.23%
ROIC (approx.)84.15%
Tax rate-5.25%
Other income / net worth0.53%
Growth
Sales growth (latest year)109.89%
Profit growth (latest year)350.16%
Profit CAGR, 3 years-38.90%
Sales growth QoQ-17.74%
Profit growth QoQ-12.81%
Sales growth YoY (latest quarter)-64.89%
Profit growth YoY (latest quarter)-68.64%
Per share
EPS (TTM)Rs 40.00
EPS (latest year)Rs 59.27
EPS (latest quarter)Rs 8.80
EPS, 3-year averageRs 22.91
EPS, 5-year averageRs 65.06
Book value per shareRs 68.98
Sales per shareRs 133.05
Cash flow per shareRs 18.84
Free cash flow per shareRs 12.74
Efficiency
Asset turnover1.97x
Fixed asset turnover7.47x
Inventory turnover18.50x
Inventory days20 days
Debtor days113 days
Debtors turnover3.24x
Creditor days20 days
Cash conversion cycle114 days
Working capital days106 days
Leverage
Total debtRs 3 Cr
Cash and bankRs 6 Cr
Net debtRs -3 Cr
Debt to equity0.01x
Net debt / EBITDA-0.01x
Interest coverage315.69x
Current ratio (filing 2026-03-31)6.70x
Quick ratio (filing 2026-03-31)6.11x
Trade payables (filing 2026-03-31)Rs 20 Cr
Owners' fund to total sources83.33%
Debt to assets0.89%
Cash flow
Cash from Operating Activity (latest year)Rs 78 Cr
Cash from Investing Activity (latest year)Rs -24 Cr
Cash from Financing Activity (latest year)Rs -66 Cr
Net Cash Flow (latest year)Rs -12 Cr
Free cash flow (latest year)Rs 53 Cr
FCFE (approx.: FCF + change in debt)Rs 6 Cr
Cash from ops / profit, 5 years0.13x
Sales to cash flow8.67x
Statement figures
Net sales (TTM)Rs 554 Cr
Net sales (latest year)Rs 680 Cr
Sales (latest quarter)Rs 68 Cr
Operating profit excl. other income (latest year)Rs 271 Cr
Operating profit (latest quarter)Rs 48 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 264 Cr
PBDT (TTM)Rs 263 Cr
Profit before tax (TTM)Rs 227 Cr
Tax (latest year)Rs -12 Cr
Net profit (TTM)Rs 166 Cr
Net profit (latest year)Rs 247 Cr
Net profit (latest quarter)Rs 37 Cr
Depreciation (TTM)Rs 37 Cr
Depreciation (latest quarter)Rs 9 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 390 Cr
Total expenditure (latest year)Rs 409 Cr
Total income (latest year)Rs 681 Cr
Share capitalRs 42 Cr
ReservesRs 245 Cr
Shareholders' fundsRs 287 Cr
Total assetsRs 344 Cr
Net blockRs 91 Cr
ReceivablesRs 210 Cr
InventoryRs 21 Cr
Other liabilitiesRs 54 Cr
Shares outstanding (crore)4.16
Ownership
Promoter holding74.93% (-20.07 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | WAAREEINDO | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -16.3% | -2.8% | -13.5 pts |
| 1 month | -24.1% | -6.8% | -17.3 pts |
| 3 months | -48.3% | -7.6% | -40.7 pts |
| 6 months | -44.5% | +0.4% | -44.9 pts |
| 1 year | +4630.0% | -9.9% | +4639.9 pts |
| 2 years | +11522.3% | -13.6% | +11535.8 pts |
| 3 years | +6063.3% | +14.2% | +6049.2 pts |
| 5 years | +8374.6% | +27.9% | +8346.7 pts |
Red flags
F-score 7 of 8| explain | High accruals Profit exceeded operating cash by 49% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 4398% vs sales +110% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹68 Cr -65.1% vs Jun 2025.
Net profit ₹37 Cr -68.4%.
Against our estimate for Jun 2026: sales -70.6%, profit -56.4% miss. Our estimate for Sep 2026: sales Rs 122 Cr, profit Rs 45 Cr (how).
Activity
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| GE Vernova T&D India Ltd | 108,554 | 80.4 | 77.4 % |
| Suzlon Energy Ltd | 53,862 | 17.1 | 34.2 % |
| Thermax Ltd | 39,214 | 71.2 | 13.9 % |
| Schneider Electric Infrastructure Ltd | 28,517 | 147 | 29.6 % |
| TD Power Systems Ltd | 24,386 | 88.7 | 34.0 % |
| Azad Engineering Ltd | 18,820 | 135 | 11.9 % |
| Triveni Turbine Ltd | 17,279 | 49.8 | 34.1 % |
| Atlanta Electricals Ltd | 12,566 | 57.6 | 45.3 % |
| Quality Power Electrical Equipments Ltd | 12,502 | 93.8 | 31.7 % |
| Inox Wind Ltd | 12,357 | 35.9 | 10.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2020-09-18 | Annual General Meeting | |
| 2018-09-19 | Annual General Meeting | |
| 2017-09-20 | Annual General Meeting | |
| 2016-09-22 | Annual General Meeting | |
| 2015-09-22 | Annual General Meeting | |
| 2014-09-19 | Annual General Meeting | |
| 2013-09-19 | Annual General Meeting | |
| 2012-09-13 | Annual General Meeting | |
| 2011-08-11 | Annual Book Closure |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
| Order date | Forum | Case |
|---|---|---|
| 2021-03-16 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
| 2020-12-01 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
| 2020-11-23 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
| 2020-10-27 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
| 2020-10-14 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
| 2020-03-11 | NCLT | Corporation Bank Vs Indosolar Pvt Ltd |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
High low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 200perc in previous 365 DaysHigh low price variation greater than 75perc in previous 3 months
Quick answers
What is the market cap of Indosolar Ltd?
Indosolar Ltd (WAAREEINDO) has a market capitalisation of Rs 877 Cr. at the 2026-10-01 close.
What is the P/E ratio of Indosolar Ltd?
Indosolar Ltd trades at a P/E of 5.27 on trailing twelve-month profit, at the 2026-10-01 close.
What were Indosolar Ltd's latest quarterly results?
In the Jun 2026 quarter, Indosolar Ltd sales was Rs 68 Cr (-65.1% vs Jun 2025) and net profit was Rs 37 Cr.
What is the 52-week high and low of Indosolar Ltd?
The 52-week high is Rs 725.00 and the 52-week low is Rs 205.55.